London Firm Lightrock Raises $834 Million for New Climate Tech Fund
Lightrock secures €860 million to back startups in clean energy, decarbonization, and sustainable agriculture across Europe and North America.
London-based investment firm Lightrock secures approximately $834 million for a new fund dedicated entirely to climate technology. The firm plans to invest this capital into startups that focus on critical environmental areas such as clean energy, decarbonization, and sustainable agriculture. With this new fund, Lightrock writes checks ranging from $10 million to $39 million to support sustainability-focused companies operating in Europe and North America.
The firm sources this massive financial backing from a diverse group of prominent investors, including the Grantham Foundation and Temasek, which is a holding company owned by Singapore. Lightrock operates as a subsidiary of LGT, a private wealth management firm that makes investments for wealthy individuals and institutions. LGT ultimately belongs to the royal family of Liechtenstein, a family that actively increases its focus on environmental and social impact investments.
Despite the strict climate focus of this new fund, Lightrock and its parent company LGT maintain complex ties to the traditional energy industry. LGT continues to invest in oil and gas producers as long as these companies show a strong commitment to the energy transition and limit their fossil fuel revenues. Similarly, Temasek, one of the key backers of the climate fund, still holds significant gas and oil assets within its broader investment portfolio.