$305 million is raised by Clean Energy Ventures to support early-stage climate entrepreneurs.
The public market may be undervaluing clean energy stocks. However, the private markets continue to show a strong interest for decarbonization-focused businesses; Clean Energy Ventures' latest investment is just one example.
Five years after closing its first fund, the climate tech company announced on Wednesday that it had raised $305 million for its second one. The original goal of this most recent fund was $200 million, however limited partners like The Grantham Foundation, Builders Vision, and Carbon Equity showed interest, which resulted in a greater raise.
The company has already begun deploying the additional funding, concentrating on technologies other than the conventional green investments of wind and solar power.
Co-founder and managing partner Daniel Goldman pointed out industrial decarbonization as one attractive vertical, namely emissions-reducing technologies for the steel and cement sectors.
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