Course Corrected Closes €80M Climate Tech Fund Backed by EIF and Pension Investors

Swedish venture capital firm Course Corrected (CC.VC) has closed its second fund at €80 million to invest in early-stage European companies developing technologies for the energy and resource transition. Announced on 11 November 2026, the fund secured €35 million from the European Investment Fund (EIF), alongside commitments from Swedish state-backed investor Saminvest, SEB Life & Pension, SEB-Stiftelsen, a Swedish foundation and private investors. The fund aims to direct European institutional capital towards businesses developing clean energy, electrification and resource-efficient industrial technologies.

Fund II plans to invest in 20 to 30 European companies across four areas: energy systems, industrial optimisation and automation, electrification, and resource-smart solutions. The firm will invest from pre-seed to Series A, with initial investments ranging from €500,000 to €2.5 million. The fund has already made seven investments, including Tavion, which develops battery energy storage projects; Renasens, a textile recycling company; eComID; and Skye, which focuses on industrial energy management. The fund will invest exclusively in European businesses.

 

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The fund's close comes amid efforts to increase European institutional investment in domestic technology companies. According to Dealroom's 2026 report, From Savings to Sovereignty, Europe holds approximately $15 trillion in pension and insurance assets, but allocated only $15.5 billion to venture capital between 2016 and 2025. European Central Bank data cited by Course Corrected also indicates that pension funds accounted for 10% of venture capital fund commitments by EU-based investors between 2015 and 2025, compared with 36% among US-based investors.

Christine Ahlstrand, Founding Partner at Course Corrected, said, "Europe has the research, the technology, the founders and the markets. But who will own the next generation of industry if we do not finance the companies building it?" Pontus Bergekrans, Chief Investment Officer at SEB Life & Pension AB, said the investment reflects confidence in Europe's potential to lead the energy transition through commercially scalable technologies.

Founded in 2021 by Christine Ahlstrand, Kerstin Cooley and Katja Bergman, Course Corrected previously launched a fund focused exclusively on climate technology. Its second fund broadens the investment strategy to energy and resource efficiency while maintaining a focus on financial returns and environmental impact. The participation of pension investors and the EIF provides additional institutional backing for European companies seeking to commercialise technologies that could support industrial decarbonisation and the transition to cleaner energy systems.

 

Source: Course Corrected (CC.VC)