Icos Capital Management
www.icoscapital.comVCMatch tracks Icos Capital Management as an investor focused on Climate/Cleantech, Foodtech, and Manufacturing companies, Series A rounds, Europe, United States, and Asia markets, and $1m to $5m check sizes. Upload your deck to compare your startup against the full private matching profile.
Check Size
$1m to $5m
Stages
Focus Areas
Geography
Europe, United States, and Asia
Investment Thesis
Icos Capital’s investment philosophy is to accelerate sustainability by backing breakthrough, industrial-scale technologies that deliver quantifiable CO2e reduction/avoidance while avoiding harm to other environmental and social goals. They combine rigorous, technologist-led due diligence and measurable impact tracking with a Collaborative Venturing Platform that connects fast-growth innovators to sector-leading corporates for financing, engineering/production expertise, infrastructure and market access. The firm explicitly rejects ‘carbon tunnel vision’ and looks for multifaceted solutions aligned with the UN SDGs, Planetary Boundaries and EU Taxonomy to ensure net-positive outcomes across biodiversity, human rights and circularity.
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Investment Focus
Who should take a closer look
Icos Capital Management is most relevant for founders raising Series A rounds in Climate/Cleantech, Foodtech, Manufacturing, and Industrials, especially across Europe, United States, and Asia, with public check-size signals around $1m to $5m.
Focus statement
Icos targets early growth B2B companies (initial investments €1–5M) in Food Systems, Chemicals & Materials and Decarbonization—primarily European (or with a strong European presence)—that have validated market traction, industrial-scale production in tons, and the potential to contribute to a 1 GT CO2e reduction/avoidance by 2050.
Value Add
- Explicit, quantified climate impact target: aiming to deliver reduction/avoidance of 1 Gt CO2e by 2050 and requiring funds to target CO2e reduction within the fund period.
- Mandatory, measurable impact: investments must contribute to CO2e reduction and be tracked over the investment life, with third-party validation.
- Collaborative Venturing Platform: pairs startups with sector-leading corporates to provide engineering, production, infrastructure and market access (cited as a core growth mechanism).
- Technologist-led, sector-expert due diligence and research combined with corporate partners and venture partners to support scale-up execution.
- Investment-stage and industrial focus: targets early growth B2B companies with production measured in tons and prospective sales of ~€1–5M, in large industrial (B€) markets with high CAGR.
- EU Taxonomy alignment: prefers companies with positive impact across GHG, circular economy and biodiversity pillars.
Stage And Sector Fit
Stages
Portfolio Highlights
Squirro
Ai Ml
Bisnode
Data Analytics
BioActor
Biotech
UM
Research Institution
Bühler Group
Industrial Manufacturing
Royal Cosun
Agrifood
Nouryon
Chemicals
Bird Control Group
Industrial Manufacturing
Investment Team
11 Partners at Icos Capital Management
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