E588 | EUVC Summit 2025 | Natalie Tydemann, Kinnevik: The Path to Large-Scale Climate Impact

Europe’s tech playbook has evolved — from mastering consumer internet and telecoms to now confronting the most ambitious challenge yet: the green transition. In a compelling Summit address, Natalie Tydeman of Kinnevik framed climate tech not just as a hot trend, but as the defining commercial and industrial transformation of our time.Despite political headwinds and shifting corporate rhetoric in some markets, Europe’s climate policy support remains strong. More importantly, we’re finally witnessing a turning point: climate tech is no longer about sacrificing economics for sustainability. As Natalie put it, the new breed of green solutions are both commercially viable and environmentally necessary.What’s needed from founders and investors alike? Patience, resilience, adaptability, and creativity. The capital profiles of these companies often look very different from classical tech — they’re more capital intensive, and success often depends on building coalitions of aligned investors.Natalie emphasized two core themes where Kinnevik is most focused:Green Supply ChainsEnergy TransitionThese areas are where the visibility of future revenue streams is strongest — crucial for unlocking project financing and credit facilities. Joint development agreements, government-backed low-cost financing, and project equity play a far bigger role than in SaaS or consumer models.Europe might lag in some tech metrics, but in climate it’s starting to pull ahead:~50% of EU energy is now renewable vs. under 20% in the US84% of consumers express a desire to shop more sustainablyGovernment and blended finance are now key backers of green venturesThis ecosystem makes it possible to build large, climate-positive businesses in Europe without sacrificing scale or returns.Natalie closed by reaffirming Kinnevik’s conviction: the green transition isn’t just a moral imperative — it’s a multi-decade economic opportunity. The fund is staying highly selective, but deeply committed to supporting the few ventures that can deliver climate impact and venture-scale returns in tandem.“We’re not looking for the most startups — we’re looking for the ones that will matter most.”Investing in Climate Requires Patience — and CreativityFinancial Ecosystems & Policy: Europe Has a TailwindThe Takeaway: Selective but Bold

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