In 2021 was launched revent, a new European Venture Capital seed with the aim of launching a €50 million fund focused on investments in climate technology, health, wellness, and economic empowerment, supporting start-ups with “purpose and utility”.
The final closing was capped at €60m with fundraising it describes as "heavily oversubscribed".
In a statement, Otto Birnbaum, founding partner of revent, he said: “Today's immense climate and societal challenges will not be solved without the efforts of the world's best founders harnessing technology and building scalable commercial businesses that deliver sustainable and significant impact. We are convinced that purpose and profit feed off each other and that the best financial returns will be generated precisely because companies seek a significant and positive impact on society and the planet.”
“We are convinced that Europe is in a unique position to lead the way towards greater technology-driven positive impact for the planet and society,” added Dr. Lauren Lentz, founding partner of revent.
Partners include multinational skin care company Beiersdorf (NIVEA, Eucerin); institutional investors such as the European Investment Fund (EIF), which committed €20 million to the fund; the NRW BANK; and the LfA Forderbank Bayern. In addition, members of German entrepreneurial families such as Heraeus, Hymer and Wepa support revent. Finally, several high-profile tech founders and investors such as Verena Pausder (Fox & Sheep), Sascha Konietzke (Contentful), Florian Heinemann (Project A), and Luis Hanemann (Headline) have invested in the fund.
revent has invested in nine companies so far, including Sylvera (UK) (carbon offset scheme ratings); Net Purpose (UK) (impact assessment for investment portfolios); and Avelios (D) (a modular hospital software platform).
In addition to Birnbaum and Lentz; the partner team includes Emily Brooke MBE, founder of Beryl, and Henrik Grosse Hokamp, who previously worked for Partech's late-stage fund.
