Buyer landscape

Likely buyers · ClimateTech.

Prepared 2026-08-28 with GP Intel · deterministic scoring, published weights: gp-intel.com/methodology/league-tables

How companies like this sold · 419 verified exits: 27% to sponsors, 68% to corporates and platforms, 4% via IPO, 1% other routes. Route shift since 2020: sponsors 27% (was 28%), corporates and platforms 69% (was 66%), IPO 4% (was 6%).

The list: 25 Tier 1 · 0 Tier 2 of 120 matched buyers. A first round of the Tier 1 names plus the expansion buyers covers the demonstrated demand.

Financial buyers · 25

Tier 1 · Very High · score 70+

1. Ring Capital SponsorVery High90

11 platform investments in Energy & Climate · 32 deals 2024–26

AUM €470M · Ring Altitude II · 2025 vintage · deploying · check €4-33M

17 platform investments since the 2025 vintage · largely deployed vs its usual 13 per fund.

Backed Enerin, 2026 · ClimateTech, Norway

2. EQT SponsorVery High84

29 platform investments in Energy & Climate · 51 deals 2024–26

AUM €291.0B · EQT X · 2023 vintage · deploying · check €440M-3.3B

53 platform investments since the 2023 vintage · largely deployed vs its usual 11 per fund.

Bought Waga Energy from SWEN CAPITAL PARTNERS, 2025 · ClimateTech, France

3. KGAL SponsorVery High83

17 platform investments in Energy & Climate · 7 deals 2024–26

AUM €15.0B · KGAL ESPF 6 · 2023 vintage · deploying · check €5-38M

9 platform investments since the 2023 vintage · largely deployed vs its usual 6 per fund.

Backed Grevesmuehlen Battery Storage, 2026 · ClimateTech, Germany

4. Finorpa Gestion SponsorVery High81

6 platform investments in Energy & Climate · 27 deals 2024–26

Hauts-de-France Avenir TPE PME · 2026 vintage · deploying

8 platform investments since the 2026 vintage · early in deployment vs its usual 28 per fund.

Backed Reempro, 2026 · ClimateTech, France

5. Eiffel Investment Group, Mirova SponsorVery High81

23 platform investments in Energy & Climate · 15 deals 2024–26

AUM €7.0B · Eiffel Energy Transition III · 2025 vintage · deploying · check €24-180M

8 platform investments since the 2025 vintage · largely deployed vs its usual 7 per fund.

Backed Reforest'Action, 2024 · ClimateTech, France

6. Swanlaab Venture Factory SponsorVery High81

6 platform investments in Energy & Climate · 18 deals 2024–26

Swanlaab Innvierte Agrifood Tech · 2024 vintage · deploying

Accelerating: 15 deals in the last 2 years vs 1.3/yr before.

Backed Pack2Earth, 2025 · ClimateTech, Spain

7. Just Climate SponsorVery High81

9 platform investments in Energy & Climate · 11 deals 2024–26

AUM €1.7B · Natural Climate Solutions Strategy · 2024 vintage · deploying · check €7-52M

Accelerating: 9 deals in the last 2 years vs 1.5/yr before.

Backed NatureMetrics, 2025 · ClimateTech, UK

8. TiLT Capital Partners SponsorVery High81

11 platform investments in Energy & Climate · 8 deals 2024–26

AUM €340M · TiLT Capital Fund 1 · 2024 vintage · deploying · check €6-48M

Backed ENDENA, 2025 · ClimateTech, Spain

9. Idia SponsorVery High80

53 platform investments in Energy & Climate · 27 deals 2024–26

AUM €2.4B · Crédit Agricole Assurances Avenir et Territoires · 2026 vintage · deploying · check €2-15M

5 platform investments since the 2026 vintage · early in deployment vs its usual 25 per fund.

Backed GROUPE VALOREM, 2025 · ClimateTech, France

10. Ardian SponsorVery High79

53 platform investments in Energy & Climate · 51 deals 2024–26

AUM €196.0B · Ardian Expansion Fund VI · 2025 vintage · deploying · check €64-480M

13 platform investments since the 2025 vintage · mid-deployment vs its usual 15 per fund.

Bought Akuo from ICG, 2025 · ClimateTech, France

11. UI Investissement SponsorVery High79

5 platform investments in Energy & Climate · 11 deals 2024–26

AUM €1.7B · Cap Autrement · 2023 vintage · deploying

13 platform investments since the 2023 vintage · largely deployed vs its usual 10 per fund.