Commerzbank has pledged €300 million to its third CommerzVentures fund, aiming to invest in fintech, insurtech, and climate-focused fintech startups.
The new fund positions Commerzbank as the sole limited partner and will target early to growth-stage companies, primarily in Europe, Israel, and the United States. Additionally, Fund III intends to expand its presence into new markets, particularly in Africa, and plans to increase its workforce by 50% to facilitate this expansion.
The previous two funds, totaling €250 million, successfully supported 28 companies, some of which have emerged as industry leaders, including Mamubu, eToro, and Marqeta.
With a strong emphasis on climate fintech, CommerzVentures aims to arrange and finance high-quality carbon offsets for its portfolio companies in their inaugural year of collaboration. In return, these companies are expected to implement significant carbon mitigation and reduction strategies by the conclusion of the first year.