VoLo Earth Secures $90 Million for Inaugural Climate-Focused Fund
Receives Significant Investor Support for Climate Solutions to Help Decarbonize the Global Economy
Reinforces Strength of VoLo Earth’s Purpose-Driven Team of Founders, Investors, and Climate Strategists
VoLo Earth, an emerging venture capital firm that invests in early-stage climate tech companies, announced the successful final close of its inaugural fund, VoLo Earth Climate Fund I, with total commitments of approximately $90 million, nearly doubling the Fund’s $50 million target. The Fund received significant support from a diverse base of global investors, including Credit Suisse’s Climate Innovation Fund, foundations, fund-of-funds, private equity and public equity fund managers, and high-net-worth individuals, including energy experts.
The Fund, which targets pre-seed through Series B investments in companies with strong follow-on opportunities, focuses on transaction execution across four core sub-sectors that seek to address the planet’s climate crisis: electricity, mobility, buildings, and embodied carbon. The Fund seeks to capitalize on climate solutions to deliver superior investment returns and quantifiable carbon benefit. To date, the Fund has deployed 54% of committed capital.
“We are pleased with the strong support we have received from investors for our debut fund – a testament to our team’s deep climate tech domain expertise, track record of establishing and building startups in support of the energy transition, and extensive network of cross-industry relationships,” said Joseph Goodman, Managing Partner. “VoLo Earth was founded on the core belief that decarbonizing the global economy will be the greatest opportunity for humanity to prosper and wealth to be created in modern times. Now, more than ever before, the combination of policy, capital, and entrepreneurial talent is accelerating the new energy economy, providing a ripe opportunity set for firms like VoLo Earth to combat the climate crisis while generating attractive returns for our investors.”
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Kareem Dabbagh, Managing Partner, added, “Over the last two years, we have developed a portfolio of best-in-breed, innovative companies, whose founders share our goal of growing and propagating climate solutions for the future. Looking ahead, we are excited to work hand-in-glove with these teams to eliminate the root causes of emissions, in addition to executing on new investment opportunities that benefit our planet and our investors.”
Since inception, VoLo Earth has made 28 investments across both the supply and demand sides of the energy transition. Select investment highlights include VoLo Earth leading:
- the $1.1 million seed investment round and co-leading the $20 million Series A funding round raised by Blue Frontier, Inc., the leading innovator in ultra-efficient sustainable air conditioning technology;
- the $30 million Series A funding round raised by Ion Storage Systems, a game-changing solid state battery company designing batteries that are safer, lighter, and enable form factors with tighter packing density; and
- the $8.2 million Series A funding round raised by Banyan Infrastructure, a project finance platform designed to simplify, accelerate, and optimize the financing of sustainable infrastructure across the full life cycle.
Source: VoLo Earth Ventures