Ananda Impact Ventures has completed a €73 million first close of its fifth Core Impact Fund, exceeding its €50 million target and representing the largest first close in the firm’s 16-year history. ## Targeted Investments The fund is backed by a mix of returning and new investors, including the European Investment Fund (EIF), NRW.BANK, Investcorp-Tages, Mercator Foundation, and more than 40 family offices across Europe. Founded in 2009, Ananda Impact Ventures is a European impact venture capital firm focused on early-stage, technology-driven startups addressing social and environmental challenges. The firm manages €270 million across five funds and invests in areas such as climate, healthcare, biodiversity, and social inclusion. ## Long-Term Strategy Ananda V continues this strategy, focusing on early-stage technologies aimed at addressing long-term societal and environmental challenges across Europe. Over sixteen years and four prior funds, Ananda has established a track record in impact investing, including the successful return of its first fund to investors. The fifth fund builds on this experience with a long-term investment perspective. ## Integrated Approach Ananda’s investment strategy emphasises systems-level thinking rather than a narrow sector focus. Drawing on its experience since 2009, the firm views major human, social, and environmental challenges as interconnected and more effectively addressed through integrated approaches rather than isolated solutions. This perspective underpins Ananda’s focus on interdisciplinary business models designed to deliver both long-term impact and sustainable returns.