Extantia Research
Investment Thesis
Extantia Capital is a Berlin-based climate tech venture capital firm founded in 2020 on the belief that "capital is the greatest asset in our fight against climate change." The firm backs pioneers building software and hardware solutions that re-engineer entire industries around a simple standard: faster, cheaper, more resilient, and green. Extantia describes its approach as "investing with impact but not for impact," meaning financial returns drive every decision, with climate impact as the structural outcome of solving large, near-term market problems rather than a mission overlay bolted onto the thesis.
A defining feature of the firm's process is its "carbon math exclusion principle," led internally by a dedicated Head of Carbon Math. Extantia will only invest in startups that can plausibly abate at least 100 million tonnes of CO2 annually once fully scaled, screening out ventures with feel-good but sub-scale climate impact.
Sector Focus
Extantia invests across the "new industrial revolution" in climate and deep decarbonization, with concentration in:
- Energy transition, grid infrastructure, and battery/power systems
- Industrial decarbonization and process re-engineering (e.g., fertilizer, steel-adjacent, and heavy industry)
- Carbon removal and capture
- Biodesign and materials science (e.g., synthetic biology, biomaterials)
- Waste-to-value and circularity
- Climate finance infrastructure
Stage Focus
Extantia focuses on Seed and Series A investments, positioning itself as the first institutional check for climate pioneers with a working product or pilot. The firm operates a dual strategy: a "Flagship" strategy that directly backs climate tech startups, and an "Allstars" strategy that invests in other climate-focused venture funds to extend Extantia's network and deal flow.
Check Size
Typical initial ticket size is €1M-€5M for Seed to Series A rounds, with reserves for follow-on participation as portfolio companies scale.
Lead Tendency
Extantia positions itself explicitly as a lead investor: "As lead investor, we sign the term sheet with you first, then build the syndicate together." Recent rounds show the firm both leading (e.g., Renasens seed) and participating alongside other leads in syndicated rounds (e.g., AssetCool Series A, led by Energy Impact Partners).
Recent Activity
Extantia closed the final close of its oversubscribed Article 9 "Flagship II" fund at €204M in November 2024, bringing total assets under management to roughly €300M. The fund drew backing from sovereign wealth funds, pension funds, insurers, corporates, and family offices. Since then the firm has stayed active:
- March 2026: Led a €10M seed round in Renasens, a Stockholm-based deeptech startup using modified supercritical CO2 to recycle blended and treated textile fibres without water or toxic chemicals.
- July 2025: Participated in AssetCool's £10M Series A (robotic grid-capacity upgrades), led by Energy Impact Partners alongside Taronga Group and the Northern Powerhouse Investment Fund.
- 2025: Backed Epoch Biodesign (enzymatic plastics recycling) and Modern Synthesis (biomaterials/mycelium-based textiles).
Extantia reports roughly 8 new investments in the trailing 12 months as of mid-2026, consistent with active deployment of Flagship II.
Portfolio Highlights
Extantia's Flagship portfolio spans more than 30 companies across energy, industrial processes, agriculture, waste, transportation, and carbon removal, including INERATEC (power-to-X e-fuels), H2Pro (green hydrogen electrolysis), Reverion (carbon-negative biogas power plants), LeydenJar (silicon battery anode technology), BeZero (carbon ratings), MAGNOTHERM (magnetocaloric cooling), AssetCool (robotic grid upgrades), Epoch Biodesign, Modern Synthesis, and Bloom Biorenewables. Through its Allstars fund-of-funds strategy, Extantia also holds positions in climate-focused VC funds including Lowercarbon Capital, Fifth Wall, Just Climate, Astanor, EIP, Zero Carbon, and Counteract, giving it visibility into a 160+ company network beyond its direct book.
Team
Extantia was founded in 2019 by Yair Reem, Sebastian Heitmann, and Joern-Carlos Kuntze; Oliver Schwarzer and Torben Schreiter joined in 2020 as the firm launched its first fund.
- Yair Reem — Partner, Co-Founder
- Sebastian Heitmann — Partner, Co-Founder
- Torben Schreiter — Partner
- Joern-Carlos Kuntze — Partner, Co-Founder
- Oliver Schwarzer — Partner & CFO
- Carlota Ochoa Neven Du Mont — Principal
- Christian Guba — Principal
- Tess Dury — Director of Impact & ESG
- Prof. Francesco Pomponi — Head of Carbon Math
- Paul Eisenberg — Investment Manager
- Nina Litman-Roventa — Investment Manager
- Jan Olsson — Senior Investment Associate
- Moritz Kötter — Investment Associate
- Paola Brenni — Investment Associate
- Fernanda Bartels — Marketing Director
- Chloe Legge — Marketing Manager
- Eva Frey — Executive Assistant & Office Manager
- Jaisal Singh Shergill — Fund Operations Analyst
Decision Process
Extantia operates as a multi-partner investment team (5 partners) with a dedicated Head of Carbon Math who screens every deal against the firm's 100Mt CO2 abatement bar before it can proceed, alongside standard partnership diligence.
Founder Preferences
Extantia looks for technical and industrial founders tackling large, near-term, re-engineerable markets rather than niche climate applications. The firm favors teams that can credibly show a path to massive scale (100Mt+ CO2 abatement potential) and that treat sustainability as a byproduct of building a faster, cheaper, better product rather than the primary sales pitch.
Geographic Focus
Primarily Europe (Germany, UK, Nordics, Switzerland), with the team based across Berlin, the UK, and Germany, and selective investments outside Europe including Israel.