Climate Investor Market Sentiment: 2025

Climate tech investors are navigating a trickier, more tactical market. Currence surveyed investors across the CTVC ecosystem, in partnership with Elemental Impact, on where capital is flowing, where it is stuck, and how they read the market.

The results show a maturing market. Investors still back clean energy, steer clear of the middle ground between venture-scale risk and infrastructure-scale certainty, and are bracing for policy turbulence.

• 69% of investors expect funding for first-of-a-kind projects to shrink.
• Renewables, grid, and storage remain core investor priorities.
• The $45m to $100m range is the "missing middle within the missing middle," stuck between venture and infrastructure capital.
• Policy uncertainty around IRA incentives, tariffs, and credit transferability is investors' top fear.
• Investors flag labor as one of the most overlooked constraints on scaling.