Based in Paris, 360 Capital announced the first closing of the 360 Life II fund, which aims to finance innovative climate technology projects.

The fund will be managed by a team of partners from A2A, including Cesare Maifredi, Alexandre Mordacq, Alessandro Zaccaria, and Thomas Nivard.

To enhance deal sourcing, 360 Capital plans to leverage corporate expertise from strategic partners A2A and De Nora.

Investment areas for the fund include renewable energy, energy storage, hydrogen, waste reduction, and smart infrastructure, with initial investment tickets ranging from 2 to 10 million euros.

The fund is designed to support up to 20 startups, with A2A committing 40 million euros and De Nora contributing 10 million euros.

CDP Venture Capital is the anchor investor with a commitment of 44 million euros, joined by De Nora and Bpifrance as institutional partners.

360 Life II will focus on investing in Series A and B startups across Europe, particularly in energy transition, circular economy, and urban sustainability.

The fund is classified as an Article 9 fund, emphasizing its commitment to sustainability and is backed by A2A and De Nora.

This new fund builds on the success of a previous 25 million euro climate tech fund launched in 2020, which supported eight startups across Europe.

Established in 1997, 360 Capital has a strong track record in deep tech and climate tech, with over 60 companies in its portfolio and 28 successful exits since 2018.

The final target of 360 Life II is set at 200 million euros, significantly increasing its investment capacity compared to the previous fund.

360 Capital has successfully raised 140 million euros for its new climate tech investment vehicle, 360 Life II, with a goal of reaching a total of 200 million euros by 2025.