CFM Climate Investor Three

Netherlands

Growth

About CFM Climate Investor Three

First close at €150M

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

industrial decarbonisation

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

Contrarian Signals

Emerging markets = higher execution riskexternal

Complex blended structures slow deploymentexternal

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

Founder Don'ts

Don't pitch developed-market-only plays

Avoid pure equity without blended structures

Don't bring one-off deals, not platforms

Key GPs & Partners

Andrew Johnstone

CEO

platform builderemerging marketsblended finance

Mphokolo Makara

CEO SA-H2 Fund Managers

green hydrogenindustrial decarbonisationenergy transition

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Fund Overview

Fund Size€150M

Saves0

Website

Key People

Andrew Johnstone, Sebastiaan Surie, Sebastiaan van der Zee

Andrew JohnstoneCEO

Mphokolo MakaraCEO SA-H2 Fund Managers

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