Paris-based venture capital firm, Wind, has secured a €30 million investment from the European Investment Fund (EIF) for its new early-stage Article 9 fund, Wind II. This commitment follows the first closing of Wind II at €90 million and will support the growth of European Deeptech solutions in essential services and infrastructure industries.
Wind II focuses on key sectors related to human well-being and environmental sustainability, such as food and air quality, energy, mobility, construction, and security. The fund targets early-stage French and European tech startups whose innovations address challenges posed by climate change while adhering to environmental standards.
EIF Chief Executive, Marjut Falksteadt, emphasized the importance of investing in technologies that promote a greener, more sustainable future, stating, “It is vital that we intensify our support for innovations that help industry and society transition to a greener future.” The EIF’s participation in Wind II reflects its commitment to backing companies developing sustainable, cutting-edge solutions.
Wind’s founding partner, Thierry Vandewalle, expressed excitement about the EIF’s endorsement of the fund’s investment thesis. He highlighted the partnership’s role in advancing both sustainable and commercially viable technologies. Xavier Gury, also a founding partner, noted the promising business potential, citing recent data showing that industrial startups tend to exit faster and at higher valuations than traditional SaaS models.
Wind II aims to invest in around 30 startups, with individual investments ranging from €500,000 to €5 million. The fund has already invested in three pioneering companies: Eclipse (energy storage), Sopht (green IT), and Entroview (battery diagnostics for gigafactories and automotive industries).
Wind II is aligned with the European Union’s Taxonomy for climate mitigation and adaptation, positioning the fund as a contributor to the EU Green Deal and the EIF’s climate targets. The final closing is expected in 2025, with opportunities for new investors to join.
This new round of funding positions Wind II to play a pivotal role in the development of technologies crucial for addressing climate challenges while driving long-term growth.