Climate technology investor founded in2017, entering pre-seed and seed across Europe and the US, with follow-on participation in later financings.
Founded 2017
Type Venture capital 2 Fund II 2024-03 2024-03 €93M Official ESG2024 report gives exact EUR93.5m, launched2022 and closedMarch2024. Adviser claims EUR100m/December2023 with inconsistent publication metadata; preserve conflict. EIF EUR25m is LP commitment, not totalfund.
Fund I 2017 2017 €12M Official ESG2024 report states EUR12.5m FundI launched2017; exactclose date unknown.
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$560K $560K – $560K Lithuania $560K $560K – $560K London $560K $560K – $560K Netherlands $350K $50K – $1M Lithuania $0 $0 – $0 Lithuania — $560K – $560K Lithuania — $560K – $560K London — $100K – $1M Poland · Romania · Estonia · Lithuania · Latvia · Czechia · Slovakia · Hungary · Germany · Bulgaria — — – — — — – — — — – — — — – — — $0 – $0 — — – — — — – — — — – — — — – — — — – — — — – — — — – — — — – — — — – —
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team@apexlogos.ai · yesterday
Investment-fund research reviewed 2026-10-06. Publicly identified funds, dates, amounts and fundraising status are below. Undisclosed commitments remain unknown; this is not a complete register of private SPVs or parallel entities.
Fund size and chronology
| Vehicle/event | Amount and status | Source and date |
| --- | --- | --- |
| Fund I, launched 2017 | **€12.5m**, stated actual fund size. | [Firm ESG & Impact 2024 report, p. 5](https://www.cventures.vc/wp-content/uploads/2026/05/Contrarian-Ventures-Portfolio-report-ESG-Impact_2024-v2.pdf ); publication date not established, accessed 2026-10-06. |
| Fund II, launched 2022 | **€93.5m**, stated actual fund size. Report introduction says second fund closed in **March 2024** at nearly €100m. | Same [official report, pp. 2 and 5](https://www.cventures.vc/wp-content/uploads/2026/05/Contrarian-Ventures-Portfolio-report-ESG-Impact_2024-v2.pdf ). |
| Fund II fundraising in progress | At least **€75m target**, **€100m hard cap**; final close then expected H2 2023. EIF's **€25m** was its LP commitment, not the total fund size. | [EIF announcement, 2023-02-23](https://www.eif.org/press/all/investeu-eif-invests-eur-25-million-into-pan-european-climate-tech-venture-capital-fund-contrarian-ventures ). |
| Earlier launch reporting | **€100m target**, not proof of closed capital. | [Tech.eu, 2022-08-17](https://tech.eu/2022/08/17/giving-fillip-to-climate-tech-startups-lithuanias-contrarian-ventures-launches-eur100-million-fund/ ). |
| Conflicting legal adviser claim: Contrarian Ventures Net Zero 2022 | Adviser reports **€100m attracted** and final close **December 2023**. | [TEGOS/TGS Baltic](https://tegos.legal/deals-and-cases/tgs-baltic-advised-contrarian-ventures-on-establishing-the-pan-european-climate-tech-impact-venture-capital-fund-contrarian-ventures-net-zero-2022/ ); page displays 12.02.2023 despite describing December 2023, an internal date inconsistency. |
Prefer the firm's exact €93.5m figure for a proposed Fund II update, preserving the conflict rather than silently equating a target/cap with a close. Searches for a newer core Fund III or 2025/2026 fund close did not establish a newer verified amount. A commercial directory lists an entity named [Contrarian Ventures Opportunity Fund III](https://rekvizitai.vz.lt/en/company/contrarian_ventures_opportunity_fund_iii/debts/ ) (accessed 2026-10-06); this is a follow-up lead, not evidence of a newly closed core third fund or its size. A newer [official-hosted report indexed as ESG & Impact 2025](https://www.cventures.vc/wp-content/uploads/2026/01/Contrarian-Ventures-Portfolio-report-ESG-Impact_2024.pdf ) also indexes €93.5m, but full retrieval failed (web internal error and HTTP 403 on direct download). No total AUM or fund aggregation is asserted.
Funds recorded in Adex after this review:
| Fund | Disclosed amount | Announcement / filing date |
| --- | --- | --- |
| Fund I | EUR 12500000 | 2017 |
| Fund II | EUR 93500000 | 2024-03 | SHOW MORE
team@apexlogos.ai · yesterday
Match research 2026-10-06 / ContrarianVentures / sha256:ba28be6dc06434934055492e302e1d897326fc662ba5977d2e6f92343b5181fe / part 2 of 2
Imported completed research. Baseline Adex/Signal statements describe prior state, not independent verification. Retain cited attribution, date, currency and classification caveats.
| **Satellite Vu / SatVu** | Spacecraft carrying high-resolution thermal infrared instrumentation; hardware and geospatial sensing are credible deep-tech exposure. Company identifies Contrarian as a new participant in Series A's second close. | **2022-03-01**, second Series A close. Release says total investment reached **£20m**, and also describes £20m/US$27.5m raised over ten months including grants; do not treat either cumulative total as the single new tranche. [Official company release](https://www.satellitevu.com/news/lockheed-martin-invest-in-satellite-vu-to-bring-its-world-first-climate-change-technology-to-the-us ). Adex's $21m round amount therefore needs a tranche-vs-cumulative reconciliation. |
| **H2Pro** | Research-derived green hydrogen electrolysis: company currently describes decoupled, membraneless electrolyzers connected directly to renewables. Firm's official portfolio and EIF independently identify it as a Contrarian-backed company. | Attribution: [official portfolio](https://www.cventures.vc/portfolio/ ) and [EIF, 2023-02-23](https://www.eif.org/press/all/investeu-eif-invests-eur-25-million-into-pan-european-climate-tech-venture-capital-fund-contrarian-ventures ). Technology: [H2Pro, undated](https://www.h2pro.co/ ). Exact firm-attributed round/date not established from the primary sources reviewed; do not infer from aggregate databases. |
| **Hepta Airborne / Hepta Insights** | Autonomous drone inspection, heavy sensor payloads and algorithms for electricity-grid analysis form a robotics/sensing investment, rather than ordinary business SaaS. Company names Contrarian among previous investors participating in the round. | **€2m funding**, **2021-02-02**, led by SpeedUp Group and EIT InnoEnergy; official release does not label stage. [Hepta announcement](https://heptainsights.com/estonian-tech-company-hepta-airborne-raises-2m-to-digitize-energy-infrastructure-and-automate-inspection/ ). |
Other official portfolio names include PVcase, BeZero Carbon, Beebop, Delfos, Switchee and Voltaware. Portfolio membership alone does not justify classifying every climate-software or marketplace investment as deep tech. The examples above provide specific scientific or hardware grounds. [Official portfolio, undated](https://www.cventures.vc/portfolio/ ).
## Neurotechnology review
**No verified neurotech investment found in the sources checked.** The exact Adex participation list, Signal index, official portfolio, ESG report and targeted searches for Contrarian Ventures with neurotech/brain/neural terms did not yield a verified direct neural-interface, brain sensing, neuromodulation or brain-device investment. Space thermal imaging is Earth observation, not neural imaging. Materials AI and power-grid AI are not neurotechnology merely because machine learning may use neural networks. The official portfolio includes a stealth company, so the public review cannot exclude undisclosed exposure. No partner investment from a prior firm is attributed here to Contrarian. [Official portfolio](https://www.cventures.vc/portfolio/ ), [official report](https://www.cventures.vc/wp-content/uploads/2026/05/Contrarian-Ventures-Portfolio-report-ESG-Impact_2024-v2.pdf ).
## Concrete handoff for later Adex review
1. Narrow the broad emerging-technologies description to the verified climate-tech strategy. Add current pre-seed/seed, Europe/US and €1–4m official tickets with access date; retain historical geography separately.
2. Add fund-level records for Fund I €12.5m (2017) and Fund II €93.5m (2022 launch; reported March 2024 close), attaching the conflicting adviser evidence and distinguishing EIF's €25m LP allocation and historical target/cap.
3. Review current roles against official team information before changing status; Signal and existing roles have no verified employment dates.
4. Review alias mappings and duplicate participation risk for Delfos, BeZero, Decade, Hepta, Inbalance and Zoomo/Bolt Bikes. Do not merge on spelling alone.
5. Add/review H2Pro firm attribution and Metafuels' 2026 $24m follow-on. Correct any inferred stage only when the announcement supports it. Reconcile Satellite Vu amounts and Altrove publication/round dates.
6. Keep neurotech result as a scoped research negative; leave undisclosed/stealth holdings unresolved. Follow up on Opportunity Fund III and the inaccessible 2025 report before claiming Fund II is definitively the latest vehicle.
All undated pages above were accessed or attempted on 2026-10-06. Publication dates are given where supported; URL upload paths are not treated as publication dates. This file is the research deliverable only; no edits to Adex are made. SHOW MORE
team@apexlogos.ai · yesterday
Match research 2026-10-06 / ContrarianVentures / sha256:ba28be6dc06434934055492e302e1d897326fc662ba5977d2e6f92343b5181fe / part 1 of 2
Imported completed research. Baseline Adex/Signal statements describe prior state, not independent verification. Retain cited attribution, date, currency and classification caveats.
# Contrarian Ventures
- Exact Adex ID: `ContrarianVentures`
- Canonical Adex URL: https://adex.page/firms/ContrarianVentures
- Research date and source access date: **2026-10-06**
- Scope: research only; no Adex or database mutations.
Contrarian Ventures is a climate-technology investor founded in 2017. Its current official mandate is **pre-seed and seed**, with **€1–4 million tickets**, across **Europe and the US**. Its portfolio contains credible deep-tech exposure in synthetic aviation fuel, materials discovery, hydrogen electrolysis and space-based infrared sensing. The latest-known core fund size verified in this review is **Fund II, €93.5 million**, although fund-close amounts/dates conflict across sources. No verified neurotech investment found in the sources checked. [Official strategy](https://www.cventures.vc/ ), [official ESG & Impact 2024 report, pp. 2 and 5](https://www.cventures.vc/wp-content/uploads/2026/05/Contrarian-Ventures-Portfolio-report-ESG-Impact_2024-v2.pdf ).
## Adex starting record
The exact-ID record was read first from `data/research/_sources/ContrarianVentures.adex.json` (retrieved 2026-10-06). It describes an early-stage emerging-technology investor, founded in 2017, and links https://cventures.vc/companies , https://signal.nfx.com/firms/contrarian-ventures and https://goldi.ai/intelligence/vc/contrarian-ventures . Firm check minimum, maximum and sweet spot are null; no fund-size information is supplied. Its locations are London, Warsaw, Netherlands and Lithuania. Its 22 roles include Rokas Peciulaitis (managing partner), Tomas Kemtys (general partner), and numerous venture partners, analysts and operational staff. The roles lack employment dates, so the snapshot does not establish current membership.
The 24 participation records cover Delfos Energy/Delfos, Altrove, Sun.Store, Beebop, Decade Energy/Decade, Metafuels, Eliq, BeZero Carbon/BeZero, Satellite Vu, Zoomo/Bolt Bikes, InBalance/Inbalance Grid, Hepta Airborne/Hepta Insights, Switchee, Cariqa, Urbio and Voltaware. Dates span 2018–2026, with several undated entries. These are existing claims requiring source review, not independent evidence. Apparent aliases create duplicate-company risk; Zoomo/Bolt Bikes is a rebranding candidate, not necessarily a duplicate round. The baseline Metafuels record is the 2023 seed investment and omits the verified 2026 follow-on discussed below.
## NFX Signal starting evidence and limitations
The baseline [Signal firm profile](https://signal.nfx.com/firms/contrarian-ventures ) was attempted directly first, returning HTTP 429. Search-index content was accessible on 2026-10-06; the findings below are **index-only**, not a successful direct page read. Signal repeats the broad emerging-technologies description, founded 2017 and London/Warsaw/Netherlands/Lithuania locations. It lists Rokas Peciulaitis as managing partner, Tomas Kemtys as general partner and other team members with pre-seed/seed/Series A category tags.
Illustrative person-profile check claims: Rokas $50,000–$1 million, sweet spot $350,000; Eryk Frontczak $100,000–$1 million, sweet spot $500,000; Tomas Kemtys $560,000 range/sweet spot. Some other profiles report zero-valued checks. These claims are unverified, potentially historical and attached to individual profiles. They must not replace the current official firm ticket range of €1–4 million. Current team confirmation should use the firm's site rather than treating Signal membership as current employment. [Signal](https://signal.nfx.com/firms/contrarian-ventures ), [official mandate](https://www.cventures.vc/ ).
## Fund size and chronology
| Vehicle/event | Amount and status | Source and date |
| --- | --- | --- |
| Fund I, launched 2017 | **€12.5m**, stated actual fund size. | [Firm ESG & Impact 2024 report, p. 5](https://www.cventures.vc/wp-content/uploads/2026/05/Contrarian-Ventures-Portfolio-report-ESG-Impact_2024-v2.pdf ); publication date not established, accessed 2026-10-06. |
| Fund II, launched 2022 | **€93.5m**, stated actual fund size. Report introduction says second fund closed in **March 2024** at nearly €100m. | Same [official report, pp. 2 and 5](https://www.cventures.vc/wp-content/uploads/2026/05/Contrarian-Ventures-Portfolio-report-ESG-Impact_2024-v2.pdf ). |
| Fund II fundraising in progress | At least **€75m target**, **€100m hard cap**; final close then expected H2 2023. EIF's **€25m** was its LP commitment, not the total fund size. | [EIF announcement, 2023-02-23](https://www.eif.org/press/all/investeu-eif-invests-eur-25-million-into-pan-european-climate-tech-venture-capital-fund-contrarian-ventures ). |
| Earlier launch reporting | **€100m target**, not proof of closed capital. | [Tech.eu, 2022-08-17](https://tech.eu/2022/08/17/giving-fillip-to-climate-tech-startups-lithuanias-contrarian-ventures-launches-eur100-million-fund/ ). |
| Conflicting legal adviser claim: Contrarian Ventures Net Zero 2022 | Adviser reports **€100m attracted** and final close **December 2023**. | [TEGOS/TGS Baltic](https://tegos.legal/deals-and-cases/tgs-baltic-advised-contrarian-ventures-on-establishing-the-pan-european-climate-tech-impact-venture-capital-fund-contrarian-ventures-net-zero-2022/ ); page displays 12.02.2023 despite describing December 2023, an internal date inconsistency. |
Prefer the firm's exact €93.5m figure for a proposed Fund II update, preserving the conflict rather than silently equating a target/cap with a close. Searches for a newer core Fund III or 2025/2026 fund close did not establish a newer verified amount. A commercial directory lists an entity named [Contrarian Ventures Opportunity Fund III](https://rekvizitai.vz.lt/en/company/contrarian_ventures_opportunity_fund_iii/debts/ ) (accessed 2026-10-06); this is a follow-up lead, not evidence of a newly closed core third fund or its size. A newer [official-hosted report indexed as ESG & Impact 2025](https://www.cventures.vc/wp-content/uploads/2026/01/Contrarian-Ventures-Portfolio-report-ESG-Impact_2024.pdf ) also indexes €93.5m, but full retrieval failed (web internal error and HTTP 403 on direct download). No total AUM or fund aggregation is asserted.
## Investment stages and geography
Current official strategy explicitly states climate tech, Europe/US, pre-seed/seed, €1–4m tickets. Historical documents describe Europe/Israel and a seed emphasis; the EIF 2023 release confirms the seed mandate at that time. Historical Series A/B participation and follow-ons do not establish a current new-investment Series B strategy. Signal's broader tags are secondary profile evidence. [Official website, undated](https://www.cventures.vc/ ), [EIF, 2023-02-23](https://www.eif.org/press/all/investeu-eif-invests-eur-25-million-into-pan-european-climate-tech-venture-capital-fund-contrarian-ventures ).
## Verified previous deep-tech investments
Amounts below are **whole funding rounds**, not Contrarian's individual check.
| Company | Technology rationale and attribution | Supported transaction/source |
| --- | --- | --- |
| **Metafuels** | Proprietary methanol-to-jet synthetic aviation fuel process, requiring chemical process development and commercial plants. Company directly names Contrarian as a co-lead of its first institutional round. | **$8m seed**, official announcement **2023-12-13**: [Metafuels](https://metafuels.ch/e-saf-leader/ ). A newer **$24m round, 2026-02-18**, led by UVC Partners includes Contrarian as an existing investor; official release does not assign a stage label: [company release](https://metafuels.ch/knowledge-base/24m-for-climate-neutral-flight/ ). |
| **Altrove** | AI-directed materials development coupled to automated physical synthesis and characterisation; rare-earth-free magnets and safer sensor/actuator compounds justify deep-tech classification beyond generic AI software. Contrarian is explicitly named as a participating historical investor. | **$10m seed**, body date **2025-11-03**, Alven-led; mentions **$4m pre-seed July 2024**. [Alven announcement](https://alven.co/news/altrove-raises-10-million-to-turn-ai-predicted-materials-into-industrial-reality ). The page also displays Dec 11, 2025 and an October 2025 dateline, so announcement/date metadata should be reviewed before normalizing Adex. | SHOW MORE
team@apexlogos.ai · 23 days ago
MATCH 
Maniv
Zoomo$60M · 2021-11-15
Bolt Bikes$2M · 2019-11-20
Tomas Kemtys
Beebop$5M · 2024-09-12
Angular Ventures
Rokas Peciulaitis
Metafuels$8M · 2023-12-13
