Fund profile / Netherlands

CFM Climate Investor Three

Geography: Netherlands
Stage: Growth
Fund size: €150M
Focus: Climate & Sustainability, Energy Tech and Infrastructure Tech
Signals: Published

N°01 / About

About CFM Climate Investor Three

First close at €150M

N°02 / Thesis

Investment Focus

Location / RegionNetherlands

Funding StageGrowth

Industry Focus

Climate & Sustainability

Energy Tech

Infrastructure Tech

Investor Signals Profile

active

Sweet Spot

Climate infrastructure founders targeting emerging market scale

climate infrastructure

emerging markets

blended finance

green hydrogen

energy transition

industrial decarbonisation

hydrogen value chains

bankability frameworks

Bullish Signals

$1.06bn Climate Investor II closed 2025external

Agri Investor Personality of the Year 2025external

New climate loan funds + debt-for-nature swapsexternal

Public + private capital successfully combinedlinkedin

Asset class access expanding to new investorslinkedin

South Africa water programme reaches financial closelinkedin

390k people water access + 42k jobs createdlinkedin

SA-H2 Fund ZAR 3bn first close green hydrogenlinkedin

Hard-to-abate industry decarbonisation pipeline expandinglinkedin

EC, PIC, Sanlam, IDC commit to SA energylinkedin

Active AGHS engagement, next-gen energy focuslinkedin

Africa Green Hydrogen Summit 2026 headline sponsorlinkedin

Financing hydrogen projects toward bankability + FIDlinkedin

Integrated hydrogen value chains: minerals to deploymentlinkedin

Contrarian Signals

Emerging markets = higher execution riskexternal

Complex blended structures slow deploymentexternal

Capital alone insufficient without infrastructure + demandlinkedin

Founder Do's

Focus on infrastructure in emerging markets

Blend public + private capital structures

Build scalable platforms, not one-off deals

Open asset class to broader investor base

Target hard-to-abate industry decarbonisation plays

Align with next-gen energy transition narrative

Build integrated hydrogen value chains, not isolated projects

Pair capital with infrastructure + demand + local capability

Founder Don'ts

Don't pitch developed-market-only plays

Avoid pure equity without blended structures

Don't bring one-off deals, not platforms

Don't ignore infrastructure + demand dynamics beyond capital

32 signals on CFM Climate Investor Three

14 bullish · 3 contrarian · 8 pitch do's · 4 don'ts · 3 GP profiles, each with its source. From €9/month, cancel anytime.

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Facts

Fund Overview

Fund Size€150M

Saves0

Website

People

Key People

Andrew Johnstone, Sebastiaan Surie, Sebastiaan van der Zee

Andrew JohnstoneCEO

Mphokolo MakaraCEO SA-H2 Fund Managers

Muhammed HajatInvestment Director

N°04 / See also

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