Lithuania’s Contrarian Ventures launches new €100M fund

The Lithuania-based climate tech firm Contrarian Ventures has launched its second fund targeting €100 million. The fund will support climate tech startups, while mobilizing the resources needed for climate action, Tech.eu reports.

• Founded in 2017 by ex-investment bankers Rokas Peciulaitis and Tomas Kemtys, Contrarian Ventures utilises a collaborative, founders-first approach to support future climate-oriented founders.

“We must focus on the world in 2050, not just in 2030. Climate tech is going to be one of the most lucrative and important investment opportunities for the next 30 years but entrepreneurs in Europe are still heavily underfunded and underrepresented at the seed stage,”

Contrarian Ventures co-founder Rokas Peciulatis says.

• The fund will focus specifically on seed stage investments, hoping to back pioneers building innovative technologies that will support the infrastructure of tomorrow.
• Contrarian Ventures is also expanding across Europe. The firm is opening new offices in London and Berlin, as well as adding Molten Ventures and the Grantham Foundation to its LP base.

Although the startup scene is rapidly growing in the Baltics, the climate sector is still vastly underfunded. Read more about the current CEE startup scene trends here.