15 July, 2026 - Activate Capital III has reached its final closing, bringing additional capital to support growth-stage companies that are accelerating the transition towards a decarbonised, digitised, and resilient industrial economy. The fund invests in businesses developing technologies and infrastructure that help reduce CO2 emissions, generate renewable energy, and strengthen the systems needed for a more sustainable future.
From innovation to scale
While climate and industrial transition technologies are increasingly reaching commercial maturity, many still struggle to access the growth capital needed to scale. This funding gap can slow the deployment of solutions that are essential for achieving net-zero goals and building a more resilient economy. Activate Capital addresses this challenge by supporting businesses from Series B through to pre-IPO, helping proven technologies expand their reach and maximise their impact.
By providing growth capital at a critical stage, Activate Capital helps bridge a market gap that can delay or constrain the scale-up of proven climate solutions. This additional capital enables technologies to accelerate deployment, expand their reach, and realise their intended environmental impact.
How Activate Capital complements our strategy
The fund aligns closely with VP Capital’s net-zero solution and our focus on later-stage investment opportunities. It also provides exposure to sectors that are expected to play an increasingly important role in the future economy, including energy infrastructure. While these sectors are not yet strongly represented in our portfolio, we believe they will be instrumental in shaping a more sustainable and resilient economy, as the transition to net zero depends not only on innovation, but also on the capital and infrastructure required to scale proven solutions.
What particularly attracted us is Activate Capital’s combination of a long-standing track record and deep sector expertise. The team has been active in the energy transition for more than 25 years and has built a strong reputation supporting companies through their growth phase. Having successfully scaled the platform across multiple fund vintages, we believe Fund III represents the company’s strongest offering to date.
“The technologies needed to accelerate the climate transition increasingly exist today. The challenge is no longer proving that they work, but ensuring they reach the scale required to transform entire sectors. Activate Capital plays a critical role in bridging that gap by providing growth capital to companies whose solutions can drive meaningful reductions in emissions and strengthen the resilience of our industrial systems.”
– Thijn van Doorne, Senior Investment Manager Funds, VP Capital
Looking beyond individual technologies
Another aspect that makes Activate Capital stand out is its systems-level perspective. The transition to a low-carbon economy requires more than individual breakthrough technologies; it depends on the infrastructure, supply chains, and enabling systems that allow these solutions to scale. By investing across this wider ecosystem, Activate contributes to accelerating structural change rather than isolated outcomes.
