For climate-tech founders.
We back companies where decarbonisation is how they win.
Across New Zealand, Australia, and the Pacific. Pre-seed to Series B. Climate Fund 2 is a closed-end fund with an 8 to 10 year term. We partner with founders toward an exit within that horizon, in whatever form fits the company best.
What we fund.
If your company wins on commercial terms, and reduces emissions because of how it wins, we want to talk.
We look for
- Founders with technical depth and commercial ambition.
- Companies with measurable, scalable emissions reduction tied to commercial output.
- Solutions that win on cost, performance, or scalability. Not on green premiums or regulatory loopholes.
- New Zealand-domiciled (priority); Australian or Pacific-domiciled (in scope).
- Pre-seed to Series B.
- Sectors: energy, water, waste & circular, agri-food, industrial process, marine.
We do not invest in
- Companies whose climate value depends on regulatory subsidy alone.
- Pure software / SaaS without a measurable physical-decarbonisation tie.
- Carbon-credit traders or pure-offset businesses.
- Companies outside Australasia or the Pacific (with rare exceptions).
- Late-stage growth (we do not lead beyond Series B).
- Companies whose impact thesis has not passed our IRIS+-based Committee review.
What good looks like.
Our portfolio.
If your company looks like one of these, in trajectory, not necessarily sector, you are in the right place.
Industrial · CVCF 1 + 2
Liquium
Catalysts that transform Haber-Bosch ammonia synthesis, addressing 2% of global emissions.
Dramatically increasing catalyst productivity vs commercial incumbents. CVCF 2 first investment, February 2026.
Energy storage · CVCF 1
MGA Thermal
Patented miscibility-gap-alloy thermal storage, making 24/7 renewables a reality.
Series A complete; demonstration plant operational.
Water · CVCF 1 + 2
NovoLabs
World-first Supercritical UV Disinfection System, treating wastewater with UVT below 1%.
NZ Hi-Tech Awards 2024, Most Awarded Hi-Tech Company.
Waste & circular · CVCF 1
Cleanery
Patented household and personal care products in powdered form, replacing single-use bottles.
Sold in supermarkets across Australasia and the USA.
How we work.
A closed-end climate fund with operational depth.
8 to 10 year horizon
Climate Fund 2 is a closed-end fund. We target exits within the 8 to 10 year term. Exits can take many forms: trade sale, secondary, IPO. We partner with founders toward an outcome that maximises both commercial and impact returns.
Operational support
2040 Ventures has 10+ years of NZ tech-investment operations through Punakaiki Fund. Climate Fund brings board seats, customer introductions, and follow-on capital alongside the investment.
Network
Co-investors, government innovation grants, customer pilots, international partners. The Liquium and MGA Thermal investments connected to multiple international validation partners through Climate Fund.
Who you will work with.
The team.
Pitch your company.
Tell us about your business.
We respond within five working days. Yes, no, not now, or "let's talk further". No black box.
If you are early-stage and unsure whether you fit, send the pitch anyway. We would rather see something that does not quite fit than miss something that does.