Berlin-based venture capital firm Revent has closed its second fund at €100 million. Doubling down on startups working at the intersection of climate, health, and a broad category the firm calls “empowerment.” This umbrella includes fintech, edtech, govtech, workforce upskilling, data governance, and digital rights.
Revent, an early backer of companies like Avelios Medical, an AI-powered hospital platform, and Sylvera. A carbon credits analytics startup, says it will deploy the fund into 34 startups at pre-seed and seed stages, with initial investments ranging from €500,000 to €3 million. Notably, the firm has earmarked half of the fund for follow-on rounds.
The fund is backed exclusively by European LPs, including the European Investment Fund. Entrepreneur Benjamin Otto (of the Otto Group family), Dr. Oetker, Hymer, and founders of startups like Signavio, Amboss, Oviva, and Urban Sports Club.
Fundraising Amid Headwinds
Founding partner Lauren Lentz acknowledged that raising a new fund wasn’t easy. In a tight fundraising environment, marked by investor caution and political uncertainty, particularly around climate policy. Revent approached the process with what Lentz described as “trepidation.”
She cited the U.S. policy shift on climate under Donald Trump as one source of volatility affecting the global climate tech landscape. Despite these challenges, Revent was able to close the fund in just six months.
“In the early days, LPs questioned our broader scope,” Lentz said. “But in today’s climate, many are relieved to invest in a fund that supports climate. But also has the flexibility to back startups in healthcare, education, and data rights.”
She noted that AI is also creating fresh momentum in sectors like education and workforce upskilling, areas Revent categorizes under the empowerment theme.
Revent Still Bullish on Climate Tech
While the overall volume of new climate startups has slowed, Revent remains firmly committed to the sector.
“Trump’s swift rollback of climate regulations created massive uncertainty for founders and investors alike,” Lentz said, explaining that some entrepreneurs have shifted toward sectors like European reindustrialization, sovereignty, and defense — areas currently attracting significant investor interest.
Yet Revent sees a silver lining: higher quality climate founders.
“Those still building in climate tech know what they’re up against. They have conviction, and the deals we’re seeing now tend to be less inflated and more thoughtfully constructed,” Lentz noted.
One area the firm is particularly excited about is the “planning and logistics of industrial decarbonisation.” Lentz believes this emerging sector will give rise to entirely new infrastructure needs — from tracking and transporting captured carbon to managing compliance and transparency across industrial operations.
“There’s a whole new industry forming around how we decarbonise heavy industry,” she said. “And we want to be early in that market.”
As the European venture ecosystem continues to evolve, Revent’s multi-theme strategy could prove to be a timely approach, especially as founders look to tackle the most pressing systemic challenges with tech-enabled solutions.
