B Capital Expands Climate Focus with Strategic Hires: Rich Lesser and Jeff Johnson Join the Team

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Rich Lesser Joins as Vice Chair, Climate & Sustainability and Senior Advisor. Jeff Johnson Joins as General Partner Leading Climate.

B Capital, a global multi-stage investment firm, announced two appointments to further expand its climate investment platform. Rich Lesser, Global Chair and former CEO of Boston Consulting Group (“BCG”), has joined as Vice Chair, Climate & Sustainability and Senior Advisor to help drive the firm’s strategic direction in climate and sustainability. He will continue in his role at BCG and strengthen the links between the two firms in this critical area. Additionally, Jeff Johnson has joined as General Partner to lead the firm’s growing climate investment team with nearly 25 years of experience in sustainable technology.

Rich has been an advisor to the B Capital leadership team since our launch, and we’re excited for him to join us in a more formal role. He has an unmatched reputation for climate and sustainability leadership, including serving as Chief Advisor to the World Economic Forum’s Alliance of CEO Climate Leaders and building out the practice area at BCG,” said Raj Ganguly, Co-founder and Co-CEO at B Capital.

Eduardo Saverin, Co-founder and Co-CEO of B Capital, added, “As more businesses integrate climate into their strategies, Rich’s strategic direction and Jeff’s investment leadership will help us partner with and back the industry’s leading climate entrepreneurs. We are particularly excited that like many of us here at B Capital, Jeff brings deep experience as an investor and entrepreneur in scaling growth companies.”

With an estimated $5 trillion in annual investment needed by 2030 to reach international net zero targets, combating climate change will require significant resources and innovation across industries. B Capital’s climate platform seeks to leverage its global footprint – and strategic partnership with BCG – to invest in and support growth businesses that are working to achieve those net zero targets.

Mr. Lesser said, “I have known the B Capital team since inception and have seen firsthand how they create value for companies and investors. I believe innovation is key to decarbonizing the economy and am thrilled to join a best-in-class organization that shares my passion for sustainability. I look forward to working with Raj, Jeff and the entire team in this expanded role to help shape and support B Capital’s strategic ambitions in climate and sustainability and further leverage the value-added capabilities that B Capital, with BCG consulting support, can provide.

Combating climate change requires big ideas, complex solutions and an exceptional ability to execute,” Mr. Johnson said. “With its comprehensive global platform, unique corporate network and value-add approach, B Capital is positioned as the partner of choice for climate entrepreneurs. At a time when advancement in the industry is needed urgently, I am excited to join B Capital’s climate team and help proven businesses scale their commercial performance and long-term climate impact.

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Mr. Johnson and Mr. Lesser’s appointments follow the addition of Don Wood as a Venture Partner focused on climate in May 2023. They will join Karan Mohla, a General Partner on B Capital’s Asia team, and Karly Wentz, Climate Senior Principal, to further build out the team. The firm has made several recent climate tech investments, including Patch Technologies, a platform offering a suite of APIs and developer tools to connect buyers and sellers of carbon credits, and Accacia, a provider of AI-enabled decarbonization solutions to the real estate industry.