It seems that the environment and society remain relevant, whatever you can hear in some other quarters. At least this is a conclusion to be drawn from the news that the European Specialist VC Upset It has closed a € 100m fund ($ 109 million) II to invest in newly established “Planetary and Social Health” businesses.
Started in Berlin in 2021 by Otto Birnbaum and Lauren Lentz, the revelation of the Revent was (and remains) that the most ambitious entrepreneurs want to build companies that lead to social progress and this could therefore become extremely valuable. High thinking.
Of course, geopolitics have moved in such a way as to suggest that “progress” may seem quite different from the views of 2021.
These include the German retail giant The Otto Group, Goldbeck, Wepa, Oetker, Beiersdorf and Hymer, as well as a number of European founders of technology. The European Investment Fund also increased its commitment to the second Revent Fund.
Lentz told TechCrunch that the Fund is looking for newly formed businesses in transitioning to energy, industrial savings, health care, climate, economic empowerment and renewal, among others.
Since the start, it has invested in 26 companies. “Many in climate technology, some in health technology, some in empowerment and overall, things have gone very well, we had several companies that had received from general capital,” he said.
Lentz said the fund has always tried to be placed in the third category: “As a fund focusing on performance, investing in planetary and social health, in terms of long -term value creation. Value by investing in long -term basic transitions.”
The LPs of Revent is very long -term orientation, he said. “I think they are not afraid of what is happening in the US at the moment, I think, in fact, they believe that it is important to continue investing in these sites, despite what is happening in the US and I think there is this idea of Europe, the attitude and perforation and understanding of the values it represents and invests in them.
He sees more chapters towards the so -called renovation, European sovereignty and defense and “will not be surprised” if there is now a proliferation of new emerging capital. “I think Europe now needs to understand what it means … technology and innovation as part of it, and I think capital will somehow flow in this direction.”
The team is now divided into Berlin, London, Paris and now has a business risk partner in San Francisco.
