Europe’s Revent hits $68M onerous cap on its local weather, well being & impact-focused fund – TechCrunch
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Europe’s Revent hits $68M onerous cap on its local weather, well being & impact-focused fund – TechCrunch


Final yr I lined the launch of Berlin-HQ’d Revent — a brand new European early-stage with an “affect” focus — it was aimed to launch a €50 million ($60 million) fund to give attention to local weather tech, well being, and well-being, and financial empowerment, backing startups with each “function and revenue”.

It’s now saying the ultimate shut of €60m ($68m) onerous cap in a fundraise it describes as “highly-oversubscribed”.

In an announcement Otto Birnbaum, Founding Accomplice at Revent stated: “Right now’s immense local weather and societal challenges won’t be solved with out the efforts of the world’s greatest founders harnessing expertise and constructing scalable, business companies that drive sustainable and important affect. We’re satisfied that function and revenue gas each other and that high monetary returns shall be generated exactly as a result of firms are concentrating on important, constructive affect on society and the planet.”

“We’re satisfied that Europe is uniquely positioned to prepared the ground for extra technology-driven constructive affect for the planet and society”, added Dr. Lauren Lentz, Founding Accomplice at Revent.

LPs within the fund embody globally-active retail and providers firm Otto Group.

Benjamin Otto is a member of the influential German Otto household, founders of the Otto Group.

Different LPs embody multinational skincare firm Beiersdorf (NIVEA, Eucerin); institutional buyers such because the European Funding Fund (EIF), which dedicated 20 million Euro to the fund; the NRW.BANK; and the LfA Förderbank Bayern. Moreover, members of German-entrepreneurial households equivalent to Heraeus, Hymer, and Wepa households are backing Revent. Lastly, numerous high-profile tech founders and buyers equivalent to Verena Pausder (Fox & Sheep), Sascha Konietzke (Contentful), Florian Heinemann (Venture A), and Luis Hanemann (Headline) have invested within the fund.

Revent has invested in 9 firms to this point, together with Sylvera (UK) (scores carbon offset schemes); Internet Objective (UK) (affect evaluation for funding portfolios); and Avelios (D) (a modular hospital software program platform).

In addition to Birnbaum and Lentz; the companion workforce contains Emily Brooke MBE, founding father of Beryl and Henrik Grosse Hokamp, who labored beforehand for Partech’s late-stage fund.

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