Lombard Odier Investment Managers

What they fund

• Stage: Primarily Series A and B rounds, with select seed investments in deep tech and AI-enabled sustainability solutions [2][3].
• Sector: Companies in the circular bioeconomy, clean energy infrastructure, sustainable packaging, and water security technologies [1][2][3].
• Geography: Strong presence in European markets (France, Germany, UK) with strategic investments in Asia-Pacific energy transitions [1][2][3].
• Check Size: Series A rounds around €20-30 million and Series B rounds exceeding €30 million, suggesting a capacity for significant follow-on participation [2][3].
• Shape: Growth-stage companies with proven product-market fit in sustainability, requiring capital to scale operations and expand into new markets [2][3].

Interconnection: The cheque sizes and stage focus indicate LOIM acts as a lead or co-lead investor in growth rounds, leveraging its asset management scale to support companies transitioning from early traction to market dominance.

Investment thesis

Lombard Odier Investment Managers (LOIM) operates as the asset management arm of the Swiss private bank, deploying capital to drive systemic sustainability transitions. The firm invests towards a net zero, nature-positive, socially constructive, and digitally enabled economy, viewing sustainability as the primary driver of the next economic revolution [1].

• Systemic Change Focus: LOIM targets companies and technologies that address critical global challenges, such as the circular bioeconomy and natural capital, aiming to solve root causes of environmental degradation [1].
• Climate & Energy Transition: Investments target smart energy systems, clean electrification, and efficient cooling technologies to support Asia-Pacific's power grids and global decarbonization efforts [1].
• Sustainable Consumer Goods: The firm backs consumer-facing innovations that reduce carbon footprints, such as refillable hygiene products and sustainable packaging solutions [2][3].
• Digital & AI Enablers: LOIM supports digital infrastructure and AI-driven solutions that enhance resource efficiency and spatial intelligence, aligning with the 'digitally enabled' pillar of their thesis [1][2].

Credibility: The thesis is articulated on the firm's official website under 'system changes' and reinforced by recent portfolio deployments in sustainability-focused Series A and B rounds [1][2][3].

Value add

LOIM provides deep expertise in ESG integration, natural capital valuation, and systemic risk analysis, helping portfolio companies navigate regulatory landscapes and align with global sustainability standards. Their network connects founders with institutional LPs and corporate partners interested in sustainable outcomes.

Fit verdict: Ideal for sustainability-focused growth companies seeking strategic capital and ESG validation to accelerate market adoption.

Founder diligence script:

• How does LOIM's 'systemic change' framework influence your product roadmap and KPIs?
• What specific natural capital or circular economy metrics do you require from portfolio companies?
• How do you facilitate introductions to corporate partners interested in sustainable supply chains?
• What is your typical timeline for follow-on investments in Series B/C rounds?
• How do you balance financial returns with impact measurement in your investment committee process?

Portfolio focus

• 900.care: A refillable hygiene products company that raised €21 million in Series A funding, aligning with LOIM's focus on reducing carbon footprints in consumer goods [2].
• Calyxia: A Paris-based startup that secured €31.5 million in Series B to help manufacturers fight plastic pollution, reflecting LOIM's interest in circular economy solutions [3].
• Vangrid: A seed-stage startup building a decentralized spatial intelligence network for Physical AI, demonstrating LOIM's support for digital enablers of sustainability [2].
• Ahbstra: A startup developing technology to extract drinking water from air in water-scarce regions, addressing critical resource challenges [2].

Interconnection: The portfolio clusters heavily around B2B sustainability infrastructure and consumer-facing circular economy innovations, indicating a preference for scalable, systemic solutions over niche tech.

Notable investments & exits

• No Publicly Disclosed Exits: As of the available documents, there are no publicly reported exits for LOIM's venture investments [2][3].
• Portfolio Maturity: Most portfolio companies are in Series A or B stages, indicating a focus on long-term growth rather than near-term exits [2][3].
• Market Conditions: The current market environment favors holding periods for sustainability companies, allowing time to achieve systemic impact [1].
• Future Potential: Companies like Vangrid and Ahbstra are positioned for potential IPOs or strategic acquisitions in the coming years [2].

Interconnection: The lack of exits is consistent with LOIM's long-term horizon and the current stage of its portfolio, suggesting future exit activity as companies mature.

Strategic implications

LOIM's strategic edge lies in its ability to blend traditional asset management scale with deep ESG expertise, creating a unique value proposition for sustainability-focused founders. The main risk is the potential misalignment between financial returns and impact goals, which could lead to portfolio underperformance if not carefully managed. A signal that would change the read is a shift towards earlier-stage investments or a focus on emerging markets, indicating a broader interpretation of 'systemic change'.

Where they could go further

LOIM could enhance its sourcing strategy by establishing dedicated offices in key sustainability hubs like Singapore and San Francisco to access global innovation. The firm should develop a more robust impact measurement framework to quantify and communicate the systemic change achieved by its portfolio companies. LOIM could create a founder-in-residence program to foster deeper engagement and co-creation of sustainability solutions with early-stage startups. Expanding into debt or hybrid instruments would allow LOIM to support capital-intensive sustainability projects that require non-dilutive funding.