French climate investor SlateVC raises €132 million first close for inaugural growth fund

Core Insights - Slate Venture Capital has successfully closed its inaugural growth fund at €132 million, focusing on energy transition and circular economy investments [1][8] - The fund aims to support European B2B companies where environmental performance enhances economic returns, particularly in energy transition and low-carbon industrial processes [2][8] - The fundraising environment reflects a broader trend of institutional interest in scalable, climate-focused business models, with approximately €900 million to €1 billion committed to similar strategies across Europe [7] Fund Details - SlateVC plans to invest in 15 to 20 companies with strong commercial momentum, targeting international expansion [11] - The fund has already made two cornerstone investments, including Fairmat, which develops recycled carbon-fiber composite materials, and Resourcify, an AI-powered SaaS platform for optimizing circularity programs [12] Market Context - The fundraising activity in 2025 and early 2026 indicates ongoing capital formation in European climate and energy transition strategies, providing a favorable backdrop for SlateVC's first close [3] - Other notable funds in the region include Footprint Fund I (€76 million), Ananda Impact Ventures (€73 million), 2150 Fund II (€210 million), and SC Net Zero Ventures I (€210 million), all targeting climate-related investments [4][5][6] Company Background - Founded in 2023, SlateVC is an independent pan-European investment firm regulated by the French financial markets authority, focusing on technologies that contribute to climate transition [8][9] - The founding team has extensive experience in entrepreneurship, venture capital, and industrial strategy, having completed over 150 venture investments collectively [9][10]