One of the most important venture capital funds focused on decarbonization has raised new capital. And they’re planning to use the funding to change the future of climate tech.
What’s happening:
- Bill Gates founded venture capital fund Breakthrough Energy Ventures has raised $839M USD for a new fund
Why it matters:
- Breakthrough Energy Ventures has become one of the most important venture capital funds in the world focused on clean tech, decarbonization and the global energy transition
By the numbers:
- This is the 3rd fund ever raised by Breakthrough Energy Ventures
- Breakthrough Energy Ventures has raised more than $3B USD since inception
Going deeper:
- Many of Breakthrough Energy Ventures portfolio companies have been making significant progress in reducing greenhouse gas and carbon dioxide emissions, from the manufacturing of climate friendly steel to disrupting the way new mining discoveries are made for energy transition metals
- Breakthrough Energy Ventures has also backed some of the world’s most ambitious startups aiming to find new ways to get closer to net zero, including zero emissions aviation company ZeroAvia who previously entered into a first of its kind partnership with Japan Airlines to begin testing regional flights powered entirely by hydrogen
The intrigue:
- Bill Gates founded TerraPower also recently began construction on their new leading edge nuclear power plant in Wyoming, which is backed with the single largest loan ever given to a private company from the United States Department of Energy
