Venture capital firm
Lowercarbon Capital portfolio
lowercarbon.comLowercarbon Capital is a venture capital firm based in Maastricht, Netherlands, founded in 2015. It has invested in 110 venture-backed companies across 153 funding rounds on VCMC, and led 50 of those rounds. 25 of them were in the last 12 months.
110
Venture-backed companies
in its portfolio on VCMC
153
Funding rounds
led 50
25
Last 12 months
rounds, Oct 2025 to Sep 2026
18
With a disclosed valuation
of 110 companies
$121.0B
Combined value of its private companies
the whole companies, not what Lowercarbon Capital owns
110 private companies Lowercarbon Capital has backed have a VCMC valuation; together they are worth $121.0B. That is the value of the whole companies, not what Lowercarbon Capital owns. Crusoe is 26% of the total. How VCMC values companies.
Values cover private companies only; public companies are not included.
Portfolio
Lowercarbon Capital's most valuable portfolio companies
The 10 most valuable private companies Lowercarbon Capital has backed, by VCMC's valuation. Values cover private companies only; public companies are not included.
- 1 Crusoe Hosting & Cloud Infrastructure Providers, Denver $31.7B range $26.9B – $46.2B Joined at Series C, 2022
- 2 Base Power Utility companies, Austin $13.8B range $11.3B – $19.4B Joined at Series C, 2025
- 3 Solar Energy Company, London $13.8B range $11.3B – $19.4B Joined at Series C, 2025
- 4 Pacific Fusion Renewable energy companies, Fremont $12.7B range $5.5B – $19.3B Joined at Series A, 2024
- 5 Commonwealth Fusion Systems Electric Supplies & Power Generation, Harvard $9.8B range $6.5B – $16.9B Joined at Series B, 2025
- 6 Antora Batteries, Sunnyvale $2.6B range $2.1B – $3.7B Led at Series A, 2022
- 7 Tech Companies, Los Angeles $2.2B range $593M – $2.6B Joined at Series A, 2016
- 8 Scrap Metals, Boulder $2.0B range $725M – $2.8B Joined at Series B, 2025
- 9 Automattic Tech Companies, San Francisco $1.8B range $757M – $5.1B Joined at Series C, 2014
- 10 Research Institutes, Everett $1.7B range $598M – $2.8B Led at Series A, 2020
Portfolio
Full Lowercarbon Capital portfolio (110 companies)
110 companies. Load more shows the rest.
| # | Last round | History | Range | Trend | Grade | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Crusoe Hosting & Cloud Infrastructure Providers · since Series C, 2022 | Series F Sep 2026 $3.90B | $31.7B | $26.9B – $46.2B | $40.2B (+27%) | $4.4B | 0% | 1,720 | growing | A | |
| 2 | Base Power Utility companies · since Series C, 2025 | Series D Aug 2026 $1.00B | $13.8B | $11.3B – $19.4B | $16.9B (+23%) | $1.9B | 0% | 486 | growing | A | |
| 3 | Commonwealth Fusion Systems Electric Supplies & Power Generation · since Series B, 2025 | Series C Jul 2026 $1.00B | $9.8B | $6.5B – $16.9B | $11.9B (+22%) | $1.3B | 0% | 1,114 | flat | B | |
| 4 | Pacific Fusion Renewable energy companies · since Series A, 2024 | Series A Oct 2024 $900M | $12.7B | $5.5B – $19.3B | $12.7B (0%) | $1.8B | 0% | 225 | growing | C | |
| 5 | Solugen Chemicals · led at Series D, 2022 | Growth Equity Mar 2026 $50M | $584M | $369M – $917M | $570M (-2%) | $55.5M | 26% | 136 | flat | B | |
| 6 | Automattic Tech Companies · since Series C, 2014 | Series E Feb 2021 $288M | $1.8B | $757M – $5.1B | $1.7B (-6%) | $1.2B | 97% | 2,168 | shrinking | C | |
| 7 | Antora Batteries · led at Series A, 2022 | Series C Jul 2026 $550M | $2.6B | $2.1B – $3.7B | $3.2B (+23%) | $355M | 0% | 273 | growing | A | |
| 8 | AppDirect Tech Companies · since Series D, 2015 | Debt Jan 2021 $43M | $1.5B | $193M – $2.1B | $1.5B (-5%) | $251M | 7% | 1,186 | up | D | |
| 9 | Lilac Chemicals · led at Series A, 2020 | Grant Aug 2026 $100M | $464M | $285M – $832M | $541M (+17%) | $62.1M | 12% | 209 | flat | B | |
| 10 | ChiperOS Tech Companies · since Series A, 2020 | Series A Oct 2020 $12M | $44.6M | $5.58M – $165M | $43.7M (-2%) | $21.4M | 58% | 392 | flat | D | |
| 11 | Milvus Chemicals · since Seed, 2025 | Seed Oct 2025 $6.9M | $88.7M | $29.1M – $135M | $88.7M (0%) | $17.4M | 0% | 15 | growing | C | |
| 12 | Utility companies · led at Growth, 2025 | Series B Jun 2026 $29M | $223M | $125M – $435M | $286M (+28%) | $34.2M | 0% | – | unknown | C | |
| 13 | Tech Companies · led at Seed, 2023 | Series B Nov 2025 $55M | $589M | $286M – $865M | $609M (+4%) | $67.0M | 0% | 221 | growing | B | |
| 14 | Edible oils manufacturing & distribution · led at Series A, 2022 | Series A Feb 2022 $37M | $189M | $20.3M – $491M | $183M (-3%) | $51.8M | 30% | 22 | up | D | |
| 15 | Insurance - Agents, Carriers & Brokers · since Series A, 2021 | Series A Nov 2021 $25M | $92.9M | $7.67M – $227M | $88.7M (-5%) | $27.4M | 30% | 23 | flat | D | |
| 16 | Tech Companies · since Series B, 2025 | Series B May 2025 $21M | $107M | $63.3M – $201M | $67.5M (-37%) | $22.9M | 97% | 49 | shrinking | B | |
| 17 | Tree Services · since Series A, 2023 | Series A Jan 2023 $21M | $65.9M | $12.8M – $250M | $51.5M (-22%) | $29.2M | 59% | 38 | flat | D | |
| 18 | Tech Companies · since Series A, 2023 | Series A Nov 2023 $20M | $106M | $25.8M – $327M | $73.2M (-31%) | $34.0M | 60% | 87 | down | D | |
| 19 | Chemicals · led at Series A, 2023 | Series A Jul 2023 $17M | $136M | $17.7M – $277M | $131M (-3%) | $28.0M | 0% | 44 | up | D | |
| 20 | Tech Companies · since Seed, 2021 | Series A May 2023 $10M | $19.8M | $6.49M – $86.3M | $14.3M (-28%) | $12.3M | 81% | 14 | down | D | |
| 21 | Tech Companies · since Series A, 2021 | Other Aug 2022 $10M | $17.8M | $1.67M – $156M | $16.5M (-7%) | $6.41M | 97% | 48 | down | D | |
| 22 | Chemicals · led at Seed, 2025 | Seed Aug 2025 $12M | $153M | $45.8M – $233M | $153M (0%) | $27.6M | 0% | 17 | unknown | C | |
| 23 | Chemicals · since Seed, 2023 | Seed Jun 2023 $9.0M | $87.4M | $7.75M – $142M | $81.9M (-6%) | $18.4M | 0% | 13 | flat | D | |
| 24 | Chemicals · since Series A, 2023 | Series A Apr 2023 $11M | $231M | $20.6M – $351M | $228M (-1%) | $25.7M | 0% | 195 | up | D | |
| 25 | Insurance - Agents, Carriers & Brokers · led at Seed, 2025 | Seed Aug 2025 $10M | $135M | $41.8M – $205M | $135M (0%) | $24.2M | 0% | 22 | up | C | |
| 26 | Tech Companies · since Seed, 2025 | Seed May 2025 $8.0M | $119M | $40.2M – $182M | $119M (0%) | $21.5M | 0% | 20 | growing | C | |
| 27 | Industrial Machinery & Supplies · led at Seed, 2022 | Grant Feb 2026 $1.8M | $12.7M | $1.78M – $49.6M | $11.1M (-12%) | $8.80M | 54% | 25 | flat | D | |
| 28 | Tech Companies · since Seed, 2021 | Seed Oct 2021 $4.5M | $21.5M | $1.67M – $55.7M | $21.3M (-1%) | $8.55M | 34% | 26 | flat | D | |
| 29 | Tech Companies · led at Seed, 2025 | Seed Sep 2025 $7.2M | $99.4M | $31.7M – $151M | $99.4M (0%) | $17.9M | 0% | 41 | up | C | |
| 30 | Tech Companies · led at Seed, 2024 | Seed Feb 2024 $6.8M | $89.9M | $13.3M – $143M | $85.6M (-5%) | $17.6M | 6% | 21 | up | D | |
| 31 | Batteries · led at Seed, 2024 | Seed Oct 2024 $5.5M | $36.6M | $12.4M – $72.7M | $23.6M (-35%) | $13.2M | 54% | 18 | up | C | |
| 32 | Food Production · since Seed, 2021 | Seed Aug 2021 $4.5M | $3.53M | $1.64M – $11.7M | $3.86M (+9%) | $9.00M | 97% | 3 | unknown | C | |
| 33 | Tech Companies · since Seed, 2022 | Seed May 2022 $4.1M | $37.1M | $1.52M – $69.3M | $37.1M (0%) | $8.20M | 0% | 5 | unknown | D | |
| 34 | Tech Companies · since Seed, 2023 | Seed Nov 2023 $3.0M | $36.6M | $3.76M – $55.7M | $30.6M (-16%) | $6.59M | 0% | 4 | unknown | D | |
| 35 | Asphalt & Paving Products · since Seed, 2022 | Seed Jan 2022 | $14.1M | $0.98M – $55.9M | $13.2M (-7%) | $7.46M | 39% | 17 | down | D | |
| 36 | Solar Energy Company · since Series C, 2025 | Series D Aug 2026 $1.00B | $13.8B | $11.3B – $19.4B | $16.9B (+23%) | $2.0B | 0% | 21 | up | A | |
| 37 | Tech Companies · since Series B, 2026 | Series B Oct 2026 $200M | $1.5B | $1.1B – $3.2B | $2.3B (+47%) | $248M | 0% | 235 | growing | B | |
| 38 | Health Care Services · since Series B, 2014 | Growth Equity Sep 2020 $175M | $813M | $127M – $1.9B | $803M (-1%) | $178M | 43% | 1,734 | flat | D | |
| 39 | Research Institutes · led at Series A, 2020 | Series D Oct 2024 $130M | $1.7B | $598M – $2.8B | $1.1B (-39%) | $227M | 30% | 151 | flat | C | |
| 40 | Tech Companies · since Series C, 2019 | Series D May 2021 $220M | $537M | $126M – $1.7B | $480M (-10%) | $185M | 46% | 626 | up | D | |
| 41 | Scrap Metals · since Series B, 2025 | Debt Mar 2026 $30M | $2.0B | $725M – $2.8B | $2.0B (0%) | $220M | 0% | 191 | flat | C | |
| 42 | Tech Companies · since Series A, 2016 | Series E Apr 2024 $100M | $2.2B | $593M – $2.6B | $1.9B (-16%) | $246M | 0% | 870 | flat | C | |
| 43 | Meat Production & Processing · led at Growth, 2024 | Bridge Dec 2025 $18M | $303M | $133M – $419M | $226M (-26%) | $45.8M | 39% | 118 | flat | B | |
| 44 | Tech Companies · led at Seed, 2025 | Series A Aug 2026 $150M | $1.2B | $913M – $2.2B | $1.9B (+64%) | $266M | 0% | 57 | growing | B | |
| 45 | Building Material Manufacturers · led at Series A, 2023 | Growth Equity Sep 2024 $75M | $478M | $299M – $890M | $274M (-43%) | $80.4M | 97% | 63 | shrinking | B | |
| 46 | Chemicals · led at Series A, 2022 | Series B Dec 2024 $150M | $698M | $408M – $1.5B | $434M (-38%) | $163M | 97% | 138 | shrinking | C | |
| 47 | Wind Energy Equipment & Services · since Series A, 2024 | Series B May 2026 $140M | $1.1B | $659M – $2.0B | $1.4B (+27%) | $154M | 0% | 139 | growing | B | |
| 48 | Renewable energy companies · led at Series A, 2022 | Debt Apr 2026 $40M | $1.3B | $736M – $2.2B | $1.5B (+8%) | $160M | 0% | 118 | growing | B | |
| 49 | Boats services & dealers · since Series A, 2021 | Series C Mar 2026 $50M | $540M | $306M – $922M | $605M (+12%) | $66.6M | 0% | 1,966 | growing | B | |
| 50 | Aerospace and Defence · since Series A, 2021 | Series B Feb 2024 $107M | $292M | $154M – $805M | $137M (-53%) | $102M | 97% | 87 | shrinking | C |
Valuation: VCMC's valuation with its range, from a low to a high scenario; a company with no valuation shows a dash, one acquired after its last round its last value as a private company.
Activity
How Lowercarbon Capital invests: stages, industries and countries
Most of its rounds are Series A (39%). Its companies span 45 industries, most in Tech Companies, Chemicals and Renewable energy companies, across 13 countries.
Rounds by stage
- Seed 44
- Series A 59
- Series B 25
- Series C and later 25
Investments by industry
- Tech Companies 23
- Chemicals 16
- Renewable energy companies 6
- Industrial Machinery & Supplies 4
- Insurance - Agents, Carriers & Brokers 4
- Biotechnology 3
- Electric Supplies & Power Generation 3
- Industrial Air Solutions 3
Investments by country
- United States 76
- United Kingdom 12
- France 7
- Australia 2
- Brazil 2
- India 2
Recent rounds
Lowercarbon Capital's latest investments
Lowercarbon Capital's most recent funding rounds, newest first. 25 rounds in the last 12 months.
- Series C $70M 15 Oct 2026
- Series B $200M 6 Oct 2026
- Series A $150M 25 Aug 2026
- Antora Series C $550M 30 Jul 2026
- Seed $585K 22 Jul 2026
- Series B, led $65M 15 Jul 2026
- Series A $40M 22 Jun 2026
- Series C $53M 16 Jun 2026
- Series B, led $29M 4 Jun 2026
- Series B $100M 27 May 2026
Co-investors
Lowercarbon Capital's top co-investors
The investors that most often join the same rounds as Lowercarbon Capital. Breakthrough Energy leads, with 24 rounds together.
- Breakthrough Energy 24 rounds together
- 16 rounds together
- Founders Fund 13 rounds together
- Andreessen Horowitz 12 rounds together
- Energy Impact Partners 12 rounds together
- 11 rounds together
- Valor 11 rounds together
- Union Square Ventures 8 rounds together
- DCVC 7 rounds together
- 7 rounds together
About
About Lowercarbon Capital
Lowercarbon Capital, LLC is a Dutch venture capital firm engaged in investing in companies that develop solutions to reduce CO2 emissions, capture carbon, and support clean energy initiatives. The firm focuses on sectors such as energy, transportation, industrial materials, and agriculture, and operates in the Netherlands and the United States. Lowercarbon Capital also provides financial support to startups and established companies working on climate-focused projects.
Description from Veridion's company data.
- Founded
- 2015
- Based in
- Maastricht, Netherlands
- Team
- 32 people, +0% in a year
- Type
- Venture capital firm
Focus markets
- Energy
- Transportation
- Industrial Materials
- Agriculture
What Lowercarbon Capital offers
- Climate Venture Capital Investment
- Clean Energy Startup Funding
- Carbon Reduction Technology Investment
- Climate-Science Integration Consulting
- Sustainable Materials Company Investment
- Zero-Emission Agriculture Company Investment
- Carbon Capture Platform Development Support
- Emissions Reporting Platform Growth Support
Questions
Lowercarbon Capital: frequently asked questions
How many companies has Lowercarbon Capital invested in?
110 venture-backed companies on VCMC, across 153 funding rounds.
What are Lowercarbon Capital's most valuable private companies?
Crusoe ($31.7B), Base Power ($13.8B), BasePower ($13.8B), by VCMC's valuation.
What was Lowercarbon Capital's latest investment?
Stand Insurance, a Series C round in Oct 2026 of $70M.
Which stages does Lowercarbon Capital invest in?
Lowercarbon Capital invests most often at Series A (59 rounds), followed by seed (44) and Series B (25). It has also joined 25 Series C and later rounds.
What is Lowercarbon Capital's portfolio worth?
Its private companies with a VCMC valuation are worth $121.0B together. That is the sum of the companies' values, not what Lowercarbon Capital owns.
Who does Lowercarbon Capital invest alongside?
Breakthrough Energy (24 rounds), MCJ Collective (16 rounds), Founders Fund (13 rounds).