Antwerp-based Junction Growth Investors launched in 2022 to help Europe’s budding climate tech startup ecosystem access growth capital while supporting the continent’s low-carbon energy transition. It has raised €115 million ($119 million) from the European Investment Fund, BNP Paribas, the Belgian Growth Fund, as well as a number of family offices and entrepreneurs. The firm says it surpassed its €100 million target – no small feat for a first-time fund manager in a difficult fundraising environment.
EU countries are under pressure to slash consumption of natural gas, much of which is imported from outside of the economic bloc.
“The energy transition is not solely about combating climate change,” said Junction’s Dirk Dewals, reflecting a new narrative favored by many cleantech investors. “It also presents a pivotal opportunity for Europe to reduce its dependence on geopolitically sensitive carbon fuels and to build a couple of European technology leaders with global reach.”
Junction led a Series C round for Belgian high-voltage grid monitoring software company Ampacimon, and for Portuguese low-voltage grid software provider Eneida. Belgium-based Solara installs commercial and industrial solar and battery storage systems in Northern Europe.
Junction invests up to €15 million per deal, and has closed seven deals so far for its fund.
