About this programme
The ClimateTech Fund is a $100 million fund that Connecticut Innovations, the state's quasi-public venture capital arm, uses to back growing companies working on climate mitigation, adaptation, and environmental protection, across energy, mobility, the circular economy, water, and food and agriculture. The state's stated goals are creating high-paying Connecticut jobs and helping meet the state's decarbonization targets, alongside the usual venture return.
Konstantine Drakonakis is the fund's Managing Director. He has 18 years of venture capital and entrepreneurial experience, previously founded LaunchCapital, and worked as a professional environmental engineer.
The fund is built to run over a 10 to 15 year investment period and expects to back 15 to 25 companies in total, investing across proof-of-concept, seed, Series A, and Series B/C stages, as well as fund-of-funds opportunities.
How it works
Per-company investment ranges from $150,000 to $2 million annually, with a maximum initial investment of $20 million. Connecticut Innovations uses priced equity rounds, convertible notes, SAFEs, and other equity or blended debt instruments, and requires no personal guarantee.
Co-investment is required to receive money from this fund; Connecticut Innovations aims to be no more than one-third of a syndicated round, so outside capital has to be part of the deal.
After due diligence begins, the fund typically takes two to four months to reach a decision.
Who can apply
The majority of the company's employees must be in Connecticut, or the company must be actively creating jobs there.
International companies and venture capital funds must agree to establish their US headquarters in Connecticut.
The fund prioritizes technology that is difficult to copy, through patents, a unique design, or an unusual go-to-market strategy.
How to apply
- Submit the online application form with your pitch deck (maximum 50 MB), company description, contact information, business location, and university affiliation status if applicable.
- Connecticut Innovations will contact applicants within one week.
- Applications are accepted and reviewed on a rolling basis; there are no set deadlines.
Documents you’ll typically need
- Pitch deck covering leadership and team, technology and product, potential climate impact, value proposition, target market size, go-to-market strategy, business model, and fundraising plan
- Business plan (optional), including an executive summary, value proposition, business structure, market strategy, leadership team, and financial state
- Financials if available: balance sheet, cash flow statement, income statement, and a funding forecast
Frequently asked
Is co-investment required?
Yes. Connecticut Innovations will not invest alone; it aims to be no more than one-third of a syndicated round, so you need other investors in the deal.
What stage does the ClimateTech Fund invest at?
Proof-of-concept stage through seed, Series A, and Series B/C, plus fund-of-funds opportunities.
How much can my company raise?
$150,000 to $2 million per year, with a maximum initial investment of $20 million across the relationship.
How long does a decision take?
Two to four months after due diligence begins, once the fund has your pitch deck and other materials.
Do I have to be headquartered in Connecticut already?
You need the majority of your employees in Connecticut or to be actively creating jobs there; international companies and funds must agree to set up a US headquarters in Connecticut.
More funding in Connecticut
AI/Q Fund
Connecticut Innovations · Connecticut
Connecticut Innovations invests from a $50 million fund in AI, quantum computing, and deep tech companies with a Connecticut connection.
Connecticut Bioscience Innovation Fund (CBIF)
Connecticut Innovations · Connecticut
Connecticut Innovations backs bioscience companies from a $200 million evergreen fund; per-company amount is set case by case.
Connecticut Small Business Boost Fund
Connecticut Department of Economic and Community Development · Connecticut
Low-interest loans of $5,000 to $500,000 at a fixed 4.5% for Connecticut small businesses and nonprofits, arranged through community lenders.
Future Fund
Connecticut Innovations · Connecticut
Equity investment of $250,000 to $1.5 million for Connecticut tech startups accelerating growth, with priority for diverse founding teams.
Minority Business Revolving Loan Fund
Spanish American Merchants Association (SAMA), in partnership with HEDCO · Connecticut
Loans of $10,000 to $100,000 at 4% fixed interest, up to 10 years, for Connecticut minority-owned small businesses statewide.
Pre-Seed Fund
Connecticut Innovations · Connecticut
Connecticut Innovations funds early-stage tech and bioscience companies too early for VC with matched pre-seed capital to prove feasibility.
All 15 programmes in Connecticut →
Reviewed 2026-09-25. Programmes change, so check eligibility, amounts and deadlines on the official page before you apply. CapEasy is a private firm and is not part of any government body.