Axeleo Capital (AXC), an independent French venture capital firm, has announced the first closing of its new €125 million Green Tech Industry I fund (GTI I).

Axeleo Capital said: “Supported by prominent investors: the Révolution Environnementale et Solidaire fund, backed by Crédit Mutuel Alliance Fédérale’s societal dividend, Bpifrance and the Fonds National de Venture Industriel (FNVI) managed by Bpifrance on behalf of the French government as part of the Plan France 2030, and the Veolia group. ”

Founded in 2017 and with nearly €300 million in assets under management, AXC said it is taking a new step forward “by giving itself the capacity to become one of the major players in Europe in the financing of industrial innovation” and is pursuing its VC strategy of developing thematic funds.

With a final target of €250 million, GTI I is aiming to make 15 to 20 investments across Europe with lead tickets ranging from €3 million to €10 million in sectors such as energy (new renewable energies, storage), chemicals and materials (biomaterials, plastics recycling), agriculture and food (bio-based fertilizers and pesticides) and mobility (electric motors, decarbonization of air and sea transport).

“Following the success of our Software B2B strategies, the launch of GTI marks a significant step in our growth,” said Eric Burdier and Mathieu Viallard, co-founders of Axeleo Capital.

“In line with our values and our entrepreneurial DNA of supporting founders, this fund allows us to address a field of major innovations around decarbonization, green technologies and the renewal of industrial sectors in Europe.”