Climate Tech Investment Trends: H1 2025

Climate tech venture and growth investment totaled $13.2bn in H1 2025, down 19% from H1 2024, as the market waited on exits and real outcomes. The slowdown eased compared with H1 2023's 41% drop.

This report breaks down investment by stage, vertical, and region, and tracks the shift in mega deals toward energy security, adaptation, and resilience, along with bankruptcies, acquisitions, and the return of SPACs.

• Investment totaled $13.2bn in H1 2025, down 19% from H1 2024.
• Security, resilience, and adaptation themes took 70% of mega deal funding ($2.3bn).
• US investment rose 21% while Europe fell 51%, carried by US mega deals.
• Energy was the top vertical at 35% of funding, growing 13% to $4.6bn.
• Fusion displaced energy storage as the second-largest energy sector, and gridtech had its best quarter ever.