Starshot Capital Launches $35M Fund to Invest in Climate Companies That Can Avert 1 Gigaton of Emissions by 2050
2024年5月10日 - 12:00AM
ビジネスワイヤ(英語)
Starshot Capital, a venture capital firm dedicated to finding
and supporting high-impact companies in underinvested climate
sectors, today announced the launch of Starshot Fund I, a $35M fund
for companies working toward ambitious decarbonization goals.
Starshot backs early-stage companies that have the potential to
eliminate a cumulative 1 gigaton of carbon emissions by 2050 while
simultaneously delivering returns on par with the most successful
venture-backed startups. Key areas of focus include the industrial
sector, manufacturing, food & agriculture, the built
environment, materials, and chemicals.
“The climate transition is the largest financial opportunity of
the next decade,” said Starshot Managing Partner Jeremy Brewer.
“Every industry is in the midst of a radical transformation —
reevaluating supply chains, materials, and partners, with an
understanding that their business models and their stakeholders are
demanding more sustainable practices.”
Brewer, a veteran of companies including Google and Facebook,
and childhood friend Sam Levac-Levey, a mechanical engineer who has
worked at Tesla and SpaceX, co-founded Starshot in 2021 after the
pair helped to launch Work on Climate, the largest and most active
technical climate community in the world with over 28,000 members.
They are joined by fellow Google alumnus Zoe Samuel, who co-created
Alphabet’s 4,000+ employee climate community, as well as Dr. Nick
Gould, a chemical engineer who worked on decarbonizing industrial
processes at Air Products.
“Mapping out sectors helps us understand where our capital may
be strategically invested to transform an industry,” said
Levac-Levey, whose engineering experience includes energy storage,
electric aircraft, and rockets. “By focusing on historically
under-invested sectors, we maximize our impact and returns.”
Starshot draws on its deep industry connections to help founders
by introducing them to potential customers, strategic partners,
investors and key employees.
“Starshot Capital has been catalytic to Ecolectro’s success and
Jeremy has been a deeply engaged and invaluable board member.
Starshot led our Seed round and helped introduce us to the lead
investor for our Series A round, as well as a significant customer
account,” said Dr. Gabriel Rodriguez-Calero, CEO of Ecolectro.
The fund is the first from Starshot, which works closely with
expert advisors, several of whom are successful venture
capitalists, business leaders, or climate luminaries, including the
founders of RegenIntel and co-creators of Project Drawdown.
"The companies that Starshot is working with can unlock critical
business opportunities by advancing needed climate solutions,
dramatically reducing emissions while growing the bottom line,"
said Starshot advisor Jeff Seabright, who served as the CSO of
Unilever, the CSO of Coca-Cola, and the executive director of the
White House’s Climate Change Task Force under President Bill
Clinton.
Starshot’s seven portfolio companies so far include Mojave,
whose commercial HVAC technology reduces energy use by over 50%
while reducing harmful refrigerants; Rumin8, whose seaweed-inspired
feed additive improves digestion for cattle and other ruminants,
lowering feed costs and methane emissions; Harvest Thermal, whose
thermal battery helps homes reduce electricity bills by 30% and
emissions by 90%, and Ecolectro, whose technology makes green
hydrogen affordable and non-toxic, eliminating the need for noble
metals, titanium, and forever chemicals.
“Starshot has a unique advantage in the climate space, thanks to
our work helping thousands of people pivot into the sector,” said
Zoe Samuel. “Through Work on Climate and our other networks, we
frequently meet and assist exceptional climate founders at the idea
stage. By the time they’re raising money, often the relationship
and the trust are already there.”
About Starshot Capital
Starshot Capital supports ambitious entrepreneurs building
high-impact, high-growth climate companies. We believe the green
transition represents the greatest opportunity for positive impact
and stellar economic returns of the next decade. Our mission is to
accelerate the work of founders building transformational
businesses at the earliest stages by connecting them to key
partners, customers, and employees. More at
https://starshotcapital.com.
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