German VC firm Planet A secured $172M (€160M)
in capital commitments toward its debut fund that aims to back startups
working on mitigating climate change, reducing waste, saving available
resources, and protecting biodiversity.
The fund was oversubscribed and crossed its initial target of $107M (€100M).
- Planet
A held the first close of its fund in October 2021 and has already
backed startups such as digital twin startup Makersite, green ethanol
firm C1, and carbon sequestration company 44.01.
- The
firm typically prefers to back software firms at pre-Seed and Seed
rounds and hardware-focused firms in Series A and beyond stages.
- Individual ticket sizes will range from €500,000 ($536,500) to €3M ($3.2M).
- Planet A will invest across Europe, the U.K., and Israel.
- Limited partners that contributed to the fund include BMW, KfW Capital, REWE, and Vaekstfonden/EIFO.
