About Triodos Investment Management
Triodos Investment Management is a venture capital firm founded in 1990. It is primarily based out of Driebergen Rijsenburg, Netherlands. As of Sep 2025, Triodos Investment Management is an active investor, having invested in 406 companies, with 1 new investment in the last 12 months. It primarily invests in Conventional Debt round in India based startups. Its investments are spread across a wide range of sectors from Financial Services to Food and Agriculture and Energy. Most recently it participated in the $***** Conventional Debt round of Kaleidofin Capital Overall, Triodos Investment Management portfolio has seen 1 unicorn, 103 IPOs and 32 acquisitions including key companies like Nvidia, Adyen and SAP. A lot of funds co-invest with Triodos Investment Management, with names like Caspian Equity sharing a substantial percentage of its portfolio. Triodos Investment Management has team of 73 people including 7 partners.Key Metrics
Team Members
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Conventional Debt, Seed & 6 more
Portfolio IPOs
Portfolio Unicorns
Portfolio Soonicorns
Deals in last 12 months
Triodos Investment Management's List of Top Investments
Triodos Investment Management has a portfolio of 406 companies, one of which is a Unicorn. Their most notable investments are in Ashv Finance and Intellecap.Their portfolio spans across Netherlands, United States, Germany and 58 more locations. They have invested in Financial Services, Food and Agriculture, Energy and 34 other sectors, across stages such as Conventional Debt, Seed and 6 more. Here is the list of top investments by Triodos Investment Management:1. Nvidia
Developer of hardware and software solutions for artificial intelligence computing. The company provides platforms for cloud services, data centers, embedded systems, and workstations. It offers graphics cards, networking products, and software tools. The business delivers solutions for industries including automotive, healthcare, manufacturing, and telecommunications.
Key facts about Nvidia
- Founded Year: 1993
- Location: Santa Clara (United States)
- Annual Revenue: $1B+ as on Jan 31, 2026
- Stage: Public
- Total Funding till date: $5M
- Employee Count: 42,000 as on Jan 31, 2026
- Investors: Worldview Technology Partners, Black Capital Investments and 37 Others
- Latest Funding Round: Grant (prize money), May 26, 2023, $*****
- Highlight: Public
2. Adyen
Provider of end-to-end payment, data, and financial management platform solutions. The platform facilitates payment acceptance, revenue protection, and financial control. It allows businesses to add payment methods and expand into new markets. The platform connects online and offline channels to create customer experiences using cross-channel insights. It helps businesses understand their data and manage fraud.
Key facts about Adyen
- Founded Year: 2006
- Location: Amsterdam (Netherlands)
- Stage: Public
- Total Funding till date: $266M
- Employee Count: 5,550 as on Jul 31, 2026
- Investors: Access Industries, Index Ventures and 15 Others
- Latest Funding Round: Series C, Sep 30, 2015, $*****
- Highlight: Public
3. SAP
Provider of business applications, technology, and cloud enterprise resource planning. It offers a suite of solutions for financial, spend, and supply chain management. The company provides human capital and customer experience management tools. It delivers a business technology platform and transformation management software. The company offers sustainability and business network solutions.
Key facts about SAP
- Founded Year: 1972
- Location: Walldorf (Germany)
- Annual Revenue: €1B+ as on Dec 31, 2025
- Stage: Public
- Employee Count: 148,412 as on Jul 31, 2026
- Investors: Elliott Management, Triodos Investment Management and 11 Others
- Latest Funding Round: Grant (prize money), Nov 01, 2022, $*****
- Highlight: Public
4. Adobe
AI powered marketing creative management and customer journey management platform. It enables users to create, deliver, and optimize digital content and applications. The platform allows users to create and augment content tailored to specific characters, brand styles, or campaigns. It generates videos from a text prompt or image. The platform combines real-time insights and scaled content activation with journey orchestration to optimize individual experiences across different channels.
Key facts about Adobe
- Founded Year: 1982
- Location: San Jose (United States)
- Annual Revenue: $1B+ as on Nov 30, 2025
- Stage: Public
- Employee Count: 31,360 as on Dec 31, 2025
- Investors: Alcor Fund, ValueAct Capital and 15 Others
- Latest Funding Round: Series A, 1985, $*****
- Highlight: Public
Manufacturer of micro-inverter and energy storage systems. It offers a solar monitoring tool which allows customers to monitor the solar energy production and consumption. Its products include microinverters, batteries, accessories, and more.
Key facts about Enphase Energy
- Founded Year: 2006
- Location: Fremont (United States)
- Annual Revenue: $1B+ as on Dec 31, 2025
- Stage: Public
- Total Funding till date: $100M
- Employee Count: 2,973 as on Jul 31, 2026
- Investors: Gynther Capital, Western Alliance Bank and 16 Others
- Latest Funding Round: Post IPO, Feb 25, 2021, $*****
- Highlight: Public
Triodos Investment Management's Year-on-Year Investment Trends
Triodos Investment Management has invested in 406 companies over the last 17 years, with an average of 5 new investments annually in the last 10 years. In 2025, it made 2 investments. Its most recent first time investment was in Kaleidofin Capital and most recent follow-on round was in Apollo Agriculture.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 0 | 0 |
2025 | 1 | 1 | 2 |
2024 | 3 | 1 | 4 |
2023 | 13 | 2 | 15 |
2022 | 6 | 1 | 7 |
2021 | 7 | 0 | 7 |
2020 | 3 | 1 | 4 |
2019 | 7 | 0 | 7 |
2018 | 4 | 2 | 6 |
2017 | 4 | 0 | 4 |
Triodos Investment Management's Investments by Stage
Triodos Investment Management has made 26 investments in Conventional Debt stage with an average round size of $18.8M, 8 investments in Seed stage with an average round size of $10.8M and 7 investments in Series A stage with an average round size of $8.2M.Stage of entry | No. of Investments |
|---|---|
Conventional Debt | 26 |
Seed | 8 |
Series A | 7 |
Series B | 6 |
Series C | 4 |
Others | 4 |
Note: We have considered here, only first round of investments
Triodos Investment Management's Investments by Sector
Triodos Investment Management has a diverse portfolio, with companies operating in the Financial Services, FinTech, Sustainability Tech, Food and Agriculture Tech and Consumer. Notably, it has invested in 130 Enterprise (B2B) companies, 79 Tech companies, 76 Consumer (B2C) companies and at least 31 companies focusing on Social impact.Sector | No. of Investments |
|---|---|
Financial Services | 27 |
FinTech | 14 |
Sustainability Tech | 14 |
Food and Agriculture Tech | 9 |
Consumer | 8 |
Others | 41 |
Note: We have considered here, only first round of investments
Triodos Investment Management's Investments by Geography
Triodos Investment Management has made most investments in India (15), followed by South Africa where it has made 5 investments.Country | No. of Investments |
|---|---|
India | 15 |
South Africa | 5 |
Germany | 4 |
France | 3 |
Kenya | 3 |
Others | 25 |
Note: We have considered here, only first round of investments
Triodos Investment Management's recent investments
Triodos Investment Management has not made any investment in 2026 so far.Here are the most recent investments by Triodos Investment Management:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Sep 04, 2025 | India | Conventional Debt | 3710 | - | |
2025 | Kenya | Conventional Debt | 5985 | ||
Oct 14, 2024 | Mexico | Conventional Debt | 3248 | [+3] | |
May 20, 2024 | India | Venture Debt | 9216 | - | |
May 03, 2024 | Germany | Conventional Debt | 7289 |
Unicorns in Triodos Investment Management's Portfolio
Triodos Investment Management has 1 unicorn in its portfolio - Konfío. The most recent unicorn in their portfolio is Konfío which became a unicorn in 2021, 2 years after Triodos Investment Management first invested in it.Here is a list of unicorns in Triodos Investment Management's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
67 | Financial solutions platform provider | 2014 | Miguel Hidalgo | Series E | gwsthse |
IPOs and Publicly Listed companies in Triodos Investment Management's Portfolio
103 of Triodos Investment Management's portfolio companies have become public. AYEFin got listed on the Bombay Stock Exchange (BSE), National Stock Exchange (NSE), in Feb 2026 at marketcap of $350M and Acciona Energy got listed on the Madrid Stock Exchange (BME) at marketcap of $1.54B.Here are Triodos Investment Management's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Feb 16, 2026 | Sep 07, 2017 | Conventional Debt | 3595 | |
Jul 01, 2021 | - | - | 6676 | |
Dec 21, 2020 | - | - | 1690 | |
Oct 15, 2019 | - | - | 1462 | |
Oct 12, 2018 | - | - | 5714 |
Acquired companies in Triodos Investment Management's Portfolio
32 companies from Triodos Investment Management's portfolio have been acquired. The most recent acquisition was SEGRO in Aug 2026 by Prologis for $*****.Here are Triodos Investment Management's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Aug 04, 2026 | - | - | 3225 | |
Apr 29, 2026 | - | - | 4048 | |
Mar 16, 2026 | - | - | 2867 | |
Mar 11, 2026 | - | - | 8995 | |
Dec 10, 2025 | - | - | 9220 |
Team profile of Triodos Investment Management
Triodos Investment Management has a team of 73 members including 7 Partners and 27 Principals located in Netherlands, United Kingdom and 3 more locations. Triodos Investment Management's team sits on the board of 1 company.Here is a list of top team members in Triodos Investment Management:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Hilversum | - | - | |
Partner | Netherlands | - | - | |
Partner | Amsterdam | - | - | |
Partner | Amsterdam | - | - | |
Partner | Rotterdam | - | - | |
Partner | Apeldoorn | - | - | |
Partner | Luxembourg | - | ||
Principal | Amsterdam | - | - | |
Principal | Haywards Heath | |||
Principal | Netherlands | - | - | |
Principal | Amsterdam | - | - |
Co-investors of Triodos Investment Management
Over the past 17 years, 464 investors have co-invested in Triodos Investment Management's portfolio companies. This includes funds and angels.
- Invested before Triodos Investment Management: FMO, Accion and 226 others have invested in rounds before Triodos Investment Management. There are 6 companies where FMO has invested before Triodos Investment Management and 5 companies where Accion has invested before Triodos Investment Management.
- Top Co-investors of Triodos Investment Management: 56 investors entered a company along with Triodos Investment Management. These include investors like Caspian Equity (3 companies).
- Invested after Triodos Investment Management: A total of 180 investors have invested in Triodos Investment Management's portfolio after their investments. Top Investors include FMO (6 companies), DFC (5 companies) and Triodos Bank (5 companies).
Recent News related to Triodos Investment Management
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Santander CIB Advises on Financing of c. €450 Million for Major European Battery Energy Storage ProjectCapital-Riesgo.es•Jul 14, 2026•Santander Corporate & Investment Banking, GIGA Storage, ideaForge, Triodos Investment Management and 9 others
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Pymwymic Acquires Triodos Food Transition Europe Fund, Launches Growth Impact Fund IIIDuurzaam Beleggen•Jun 10, 2026•Triodos Investment Management, Pymwymic
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