XCarb Innovation Fund

Profile, fund size and portfolio

Parent ArcelorMittalFounded 2021

XCarb Innovation Fund is the corporate venture arm of ArcelorMittal, an industrial company. It was founded in 2021. Sectors it names: climate and energy.

Cumulative investedS1: USD 200M
Companies backedS1: 9

Every figure links to its source

Snapshot

Scale and capital allocated

Data behind this graphic

Data behind this graphic
Measure	Value	Unit	Kind	Source
Headline size	USD 200M	Cumulative invested	Stated by the firm or its parent	S1
Companies backed	9	companies	Stated by the firm	S1
Companies on the firm's portfolio page	4	companies	Counted from the firm's own list	S2

Sources: S1 ArcelorMittal: XCarb climate programme and Innovation Fund; S2 ArcelorMittal: Reflecting on another year of progress for the XCarb Innovation Fund.

Key facts

Fact	Value	Status	Source
Parent company	ArcelorMittal	Single source	S1
Parent industry	Industrial and manufacturing	Single source	S1
Founded	2021	Single source	S1
Status	Active	Single source	S1
Capital source	Parent company only	Single source	S1
Headline size	USD 200M (Cumulative invested)	Single source	S1
Companies backed	9	Single source	S1

History

2021ArcelorMittal launched the XCarb Innovation Fund in March 2021S2
2022Accelerator programme launchedS1
2023Fund invested USD 66M across three investments including Boston Metal, TerraPower and CHAR TechnologiesS2

Portfolio

The firm's portfolio page lists 4 companies.S2

The firm also states 9 companies backed. The page list and the stated total measure different things.S1

Shared portfolio with other corporate VCs

3 companies on the XCarb Innovation Fund portfolio page also appear on the portfolio page of at least one other firm in this directory. Matched by company website, or by name where no website is published.

Firm	Shared	Companies in common
Aramco Ventures	2	Boston Metal, Form Energy
BHP Ventures	1	Boston Metal
Microsoft Climate Innovation Fund	1	Boston Metal
Vale Ventures	1	Boston Metal
NVentures	1	TerraPower

Companies backed by the most corporate VCs

Every company on the XCarb Innovation Fund list

4 companies, as listed on the firm's own website.S2 Read the firm's list.

Boston Metal
CHAR Technologies
Form Energy
TerraPower

Official pages

Read the firm's own pages for current information.

Website corporate.arcelormittal.com/sustainability/climate/xcarb
Portfolio corporate.arcelormittal.com/media/news/non-regulatory-news/reflecting-on-another-year-of-progress-for-the-xcarb-innovation-fund

Sources

S1ArcelorMittal: XCarb climate programme and Innovation FundParent company
S2ArcelorMittal: Reflecting on another year of progress for the XCarb Innovation FundParent company

Disclaimer and corrections

Not affiliated. This page is not affiliated with, endorsed by or sponsored by XCarb Innovation Fund or any company named on it. Names and trademarks belong to their owners. Informational only. This is a public-source reference. It is not investment, legal or tax advice and not an offer or solicitation. Sources. Each figure names its source. Figures may have changed. Please read the firm's official pages, linked above. Corrections and takedown. To report an error or ask for a change or removal, use the correction form or email Richard@CorporateVentureCapital.com.

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