New Wave.

This week, we sit down with Desirée Petterson, Head of Impact at Satgana, to dive deep into climate investing in Africa, a region often overlooked by mainstream VC but holding the key to many climate challenges.***Thank you to DealMaker for sponsoring this episode. 💚 Big raises. No gatekeepers. DealMaker helps cleantech companies bypass traditional funding barriers and raise millions on their own terms, by going directly to investors online. Ready to fuel your vision? Visit DealMaker.tech to learn more.***⌛TIMESTAMPS 00:00 Introduction3:12 Journey to Satgana 7:54 Climate Realities in Kenya 9:56 Africa’s Venture Capital Landscape 18:14 Leveraging Africa’s Unique Strengths 21:32 Rethinking VC: A New Playbook 27:41 Why Bottom-Up Investments Work in Africa 32:04 Not Investing in Africa Is the Bigger Risk 34:24 Rapid Fire Round ***📚 STARTUPS AND FUNDSRevivo - Refurbished electronics marketplace in KenyaKubik - Turning hard-to-recycle plastics into low-carbon building materialsSirona - Direct air capture startup utilizing Kenya’s geothermal energySatgana - Climate and frontier market-focused VC fundGrounded Investment Company - Fund innovating in agri-value chains***💚 LEAVE A REVIEW Apple Podcasts - https://shorturl.at/HIDcg Spotify - https://shorturl.at/yDTfR This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit newwavenewsletter.substack.com

In this episode, we dive into one of Europe’s greatest climate venture studios: Marble.Ben Tincq, founding partner at Marble, joins us to discuss how they build companies from scratch that aim to solve the hardest climate problems.Here’s what we cover:- Finding hard climate problems and solutions- Recruiting great deep tech founders- Going from “minus one to one”- Trading market risk for technical risk… and more!Watch the full conversation on YouTube 👇***Thank you to DealMaker for sponsoring this episode. 💚 Big raises. No gatekeepers. DealMaker helps cleantech companies bypass traditional funding barriers and raise millions on their own terms, by going directly to investors online. Ready to fuel your vision? Visit DealMaker.tech to learn more.***⌛TIMESTAMPS0:00 Introduction02:09 The Genesis of Marble07:54 Building the Right Team11:41 Picking Climate Problems17:51 Creating Startups Systematically23:22 Balancing Ambition and Returns26:42 Clean Energy Abundance30:33 Traits of Great Founders37:43 Rapid Fire Questions📚 STARTUPS MENTIONEDRenaissance Fusion: Fusion energy startupVema: Geologic HydrogenStealth methane-reduction company from Marble🤝 SPONSOR THIS PODCASTFill in this form: Become a sponsor of the podcast💚 LEAVE A REVIEWApple Podcasts - https://shorturl.at/HIDcgSpotify - https://shorturl.at/yDTfR This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit newwavenewsletter.substack.com

From COVID-19 to the war in Ukraine, recent shocks have exposed a hard truth, Europe isn’t resilient yet. With the climate crisis accelerating, can we upgrade our infrastructure, economy, and innovation systems in time? To explore this topic, today we’re joined by Craig Douglas, founding partner at World Fund, one of Europe’s largest climate-tech VC. ⌛TIMESTAMPS 0:00 Introduction1:05 Craig’s VC Path 4:17 What Is Resilience? 10:20 Europe’s Weak Spots 19:19 VC Lens on Resilience 24:40 Case Study: Cylib 31:06 The European Bottleneck 39:52 Predictions for Europe's Resilience 42:14 Fast Fire Round 📚 REFERENCESSTARTUPSCylib – battery recyclingInstaGrids – portable power unitsFUNDSWorld FundScottish Equity PartnersSet VenturesNATO Innovation FundEIB (European Investment Bank)PROGRAMS AND POLICIESEuropean Commission energy policyIRA (Inflation Reduction Act) – U.S.SFDR Article 9Germany’s “Debt Brake” removalDOE Loan Program (US)🤝 SPONSOR THIS PODCASTFill in this form: Become a sponsor of the podcast💚 LEAVE A REVIEW Apple Podcasts - https://shorturl.at/HIDcg Spotify - https://shorturl.at/yDTfR This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit newwavenewsletter.substack.com

From improving food security to decarbonizing heavy industries and even transforming human health, microbes are emerging as a powerful tool in the fight against climate change.But could they also be the next multi-billion-dollar opportunity? And can generalist VCs understand the space well enough to back the right teams?In this episode, I’m joined by Olivier Mougenot, partner at Wind, a French deep-tech climate VC firm. Olivier is not a scientist. He’s not a biologist either. But he’s convinced that microorganisms will reshape our industries for the better and that biotech is now a business-first game where traditional VCs can support startups.We discuss:- What VCs can learn from SaaS to back the next generation of biotech startups- How to evaluate microorganisms projects (hint: performance, price, scale)- What AI can’t do yet in synthetic biology (but might soon)- How the best biotech startups de-risk their business- … and more!⌛TIMESTAMPS0:00 Introduction2:59 Wind: A Deep Tech VC Firm6:34 Microorganisms & Sustainability12:37 Biotech Beyond Scientists16:46 Ethics of Microorganisms21:23 Why Impact Funds Fit Biotech27:00 Wind’s Investment Thesis34:27 AI in Biotech37:45 Biotech Predictions41:54 Advice for Founders & VCs🤝 SPONSOR THIS PODCASTFill in this form: Become a sponsor of the podcast💚 LEAVE A REVIEWApple Podcasts - https://shorturl.at/HIDcgSpotify - https://shorturl.at/yDTfR This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit newwavenewsletter.substack.com

Listen now on Apple, Spotify, and YouTube.In this episode, I’m joined by Lauri Reuter, founding partner at Nordic FoodTech VC. We go deep into the mechanics of food tech. Not the kind you see on supermarket shelves, but the kind powering the supply chain, transforming ingredients, and reshaping global agriculture.We talk about:* Investing when consumers don’t care about sustainability* The underestimated complexity of food innovation* Case studies in ingredient and input replacement* How biotech is redesigning egg whites, chocolate, and aroma compounds* The food tech trends to ignore, and the ones to back* … and more!Watch this episode on YouTube. 👇⌛TIMESTAMPS * 0:00 Introduction* 01:35 Why Food Tech?* 05:22 Understanding the Food Tech Opportunity* 09:51 Investing When There's No Appetite for Sustainability* 15:59 Building Conviction in Food Tech* 25:20 Investing in Deep Tech Startups* 33:28 Nordic Innovation in Food Tech* 37:15 Rapid Fire Questions with Lauri Reuter📚 REFERENCES* Endless Food (cocoa alternative)* Evodia (aroma from engineered yeast)* Chromologics (natural food colors through fermentation)* Onego Bio (egg white via fermentation)🤝 SPONSOR THIS PODCAST* Fill in this form: Become a sponsor of the podcast💚 LEAVE A REVIEW * Apple Podcasts - https://shorturl.at/HIDcg * Spotify - https://shorturl.at/yDTfR This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit newwavenewsletter.substack.com

Listen now on Apple, Spotify, and YouTube.From underwater data cables to aging transformers, the infrastructure powering our world is under pressure, and increasingly, under threat. But could national security, not just decarbonization, be the force that finally accelerates the energy transition?In this episode, I’m joined by Austin Wood, Investment Manager at SET Ventures, to unpack why security is becoming a central force behind the energy transition and how their latest investment in OPTICS11 plays at the intersection of deeptech, defense, and critical infrastructure.We explore:* Why energy systems are now national security issues* The mechanics and strategy behind their investments in OPTICS11* How fiber optic sensing can detect failures before they happen* The overlap between climate, security, and infrastructure* The economics of partial discharge monitoring (and why you should care)* … and more!Watch this episode on YouTube. 👇⌛TIMESTAMPS * 00:00 Introduction to the episode* 02:00 Austin's Story* 03:10 SET Ventures Investment Strategy* 08:05 Optics 11: Security as a Driver of the Energy Transition* 17:20 Explaining Partial Discharge* 19:50 What Convinced SET to Invest?* 28:09 Investment Mechanics* 30:01 Security as a New Driver for Energy Transition* 36:50 LP Appetite for Climate-Tech* 38:51 Rapid Fire Questions📚 REFERENCES* Optics 11 – Fiber optic sensing for infrastructure and subsea monitoring* Wallbox Chargers – EV chargers and energy management software* Partial Discharge Monitoring – Detecting early failure signs in transformers* Royal Smitt – Transformer OEM + servicing partner* Dutch Navy – Early adopter and signal of defense relevance* SET Ventures – Digital energy VC based in Amsterdam* Join Capital – Dual-use and defense-focused VC syndicate partner🤝 SPONSOR THIS PODCAST* Fill in this form: Become a sponsor of the podcast💚 LEAVE A REVIEW * Apple Podcasts - https://shorturl.at/HIDcg * Spotify - https://shorturl.at/yDTfR This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit newwavenewsletter.substack.com

Listen now on Apple, Spotify, and YouTube.Thank you to BioEsol for sponsoring this episode. 💚BioEsol is an AI-powered energy company bringing Energy-as-a-Service (EaaS) to industrial and SME clients, enabling energy autonomy, cost savings, and sustainability - with no upfront investment. In April, the company will open its Series A round to accelerate its expansion in France & Europe.This week, we’re joined by Andrew Shebbeare, co-founder of Counteract, to unpack the state of carbon removal in 2025, what's broken, what's working, and what needs to change. From LP dynamics to resilient startup models, we cover it all. In this episode, we discuss:* Why raising capital for CDR is harder in 2025* The shift from hype to fundamentals in CDR* Carbon credits vs. carbon-negative business models* Advice for both investors and founders in the carbon space* Why MRV and ecosystem enablers matter more than ever* … and more! Watch this episode on YouTube. 👇⌛TIMESTAMPS * 00:00 Introduction to the episode* 03:45 A sci-fi take on the current political/economic moment* 08:30 What founders are experiencing on the ground in 2025* 11:09 The carbon credit myth: what startups really sell* 14:35 Business models from the Counteract portfolio* 21:00 Has the hype died? What Hello Tomorrow 2025 revealed* 25:19 Headwinds vs tailwinds for carbon removal* 29:52 How much CO₂ has Counteract catalyzed so far?* 33:40 What LPs are now looking for in climate funds* 39:03 How to identify resilient carbon removal startups* 42:24 The role (and limits) of storytelling in CDR* 45:11 🔥 Fire Questions📚 STARTUPS MENTIONED* Chloris Geospatial (trees from space)* Seqana (soil MRV)* AgriCarbon (robotic soil sampling)* Adaptavate (carbon-negative wallboards)* Concrete4Change (CO₂ in concrete)* Crew Carbon (alkaline wastewater)🤝 SPONSOR THIS PODCAST* Fill in this form: Become a sponsor of the VCo2 Podcast💚 LEAVE A REVIEW * Apple Podcasts - https://shorturl.at/HIDcg * Spotify - https://shorturl.at/yDTfR This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit newwavenewsletter.substack.com

Listen now on Apple, Spotify, and YouTube.Thank you to BioEsol for sponsoring this episode. 💚BioEsol is an AI-powered energy company bringing Energy-as-a-Service (EaaS) to industrial and SME clients, enabling energy autonomy, cost savings, and sustainability - with no upfront investment. In April, the company will open its Series A round to accelerate its expansion in France & Europe.This week, we’re joined by Dr. Hendrik Brandis, co-founder and partner at Earlybird Venture Capital, to explore the surprising role space technology can play in fighting climate change.We discuss:* How satellite imagery helps monitor earth activities* Why space-based solar farms could be a game-changer * The economic & environmental impact of launching satellites* The opportunities and risks of "sun shields" to combat global warming* Why venture capital needs to think bigger about climate tech scalability.* … and more! If you’re passionate about climate innovation and frontier technologies, this episode is for you. 👇⌛TIMESTAMPS * 00:00 Introduction to the episode* 02:06 The Role of Space Technology in Climate Solutions * 09:47 The Debate on Space Pollution * 14:47 Personal Motivation Behind Climate Action * 19:21 Investment Opportunities in Space Technology * 25:01 Net Zero Space Launch * 26:31 Investment opportunities in space tech * 33:14 Investment Strategies in Deep Tech * 40:46 Synergies Between Space Tech and Climate Tech * 43:13 Rapid Fire Questions ▶️ CONNECT WITH HENDRIK* Dr. Hendrik Brandis - https://www.linkedin.com/in/dbrandis/🤝 SPONSOR THIS PODCAST* Fill in this form: Become a sponsor of VCo2 Podcast💚 LEAVE A REVIEW * Apple Podcasts - https://shorturl.at/HIDcg * Spotify - https://shorturl.at/yDTfR This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit newwavenewsletter.substack.com

Listen now on Apple, Spotify, and YouTube.***This week, we’re joined by Annick Verween, Head of Biotope at VIB, where she backs early-stage biotech startups working to improve planetary health. With Biotope recently named one of Europe's leading startup hubs by the Financial Times, it's the perfect time to dig into what’s really going on in early-stage biotech.In this episode, we explore:* Why investors are hesitant to back early biotech startups* How incubators like Biotope bridge the pre-seed funding gap* The “valley of death” in biotech, and how to survive it* What makes a startup fundable at the seed stage* How scientists can become founders and sellers* The growing opportunity in biotech x AI* … and more! If you’re a founder raising capital, an investor exploring biotech, or just curious about what’s next for the sector, this is a must-listen. 👇***⌛TIMESTAMPS * 00:00 Introduction to the episode* 03:12 Early Stage Biotech Startups* 05:35 Understanding the Funding Gap in Biotech* 07:24 Supporting Early Stage BioTech* 09:45 How Biotope Impacts Startups* 11:49 What Makes a Biotech Startup Fundable?* 15:13 Navigating the Valley of Death* 18:50 Trends in Early Stage Biotech Investment* 26:00 Approaching Investors for Funding* 29:32 Investment Timelines in Biotech* 30:51 Scientific Validation and Funding* 32:17 Opportunities in Biotech Startups* 38:18 The Role of Advisors in Biotech* 40:51 Rapid Fire Questions on Biotech******▶️ CONNECT WITH ANNICK* Annick Verween (Head of Biotope at VIB) – LinkedIn***📚 REFERENCES AND MENTIONS* Technology Readiness Levels (TRL)* “Valley of Death” in startup financing* Pre-seed to seed funding gap* VIB (Flemish Institute for Biotechnology)* Biotope (early-stage investment and incubation arm)*** 🎙️PAST EPISODES YOU’LL LOVE* How to Exit a Deep Tech Startup - Matt Jones (Syensqo)* USA vs Europe: Who Wins In Climate? - Matthew Blain (Voyager Ventures)* Founders Should Operate Like Athletes – Romain Vidal (Teampact Ventures)* Climate Change Is a Social Issue - Alina Klarner (Impact Shakers)***💚 LEAVE A REVIEW * Apple Podcasts - https://shorturl.at/HIDcg * Spotify - https://shorturl.at/yDTfR This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit newwavenewsletter.substack.com

Matthew Blain, Principal at Voyager Ventures and a climate tech enthusiast, shares insights on the contrasting climates of investment between Europe and the US. He discusses how Europe's software climate startups are excelling and delves into the deep tech commercialization gap. The conversation highlights the advantages of European research universities and the pivotal role of government support. Blain emphasizes the need for a global mindset among founders and explores collaboration opportunities between US and European investors to drive meaningful climate innovation.