Topics
in style
AI
Amazon
Image Credits:Andriy Onufriyenko(opens in a new window)/ Getty Images
Apps
Biotech & Health
clime
Image Credits:Andriy Onufriyenko(opens in a new window)/ Getty Images
Cloud Computing
Commerce
Crypto
endeavor
EVs
Fintech
fund raise
Gadgets
punt
Government & Policy
computer hardware
layoff
Media & Entertainment
Meta
Microsoft
privateness
Robotics
Security
Social
Space
Startups
TikTok
Transportation
Venture
More from TechCrunch
Events
Startup Battlefield
StrictlyVC
newssheet
Podcasts
Videos
Partner Content
TechCrunch Brand Studio
Crunchboard
meet Us
Venture capital as a whole might be ina morsel of a Casimir Funk , but that ’s not true for every investor or sector .
TakeCongruent , a climate tech - centre VC : Last week , the house filed paperwork with the SEC to originate enkindle for a $ 250 million fund , TechCrunch+ has alone learned .
Congruent typically focuses on early - stage investments , so it ’s likely that the new monetary fund , the firm ’s third , will follow suit . If the squad can meet its target , it would be a good for you step up from its most late early - stage fund , which draws from a $ 175 million pool .
If the new fund is also target at other - leg startup , it intimate that the firm ’s partner see potential for a clean craw of promising climate technical school company to derive up over the year . It also suggests that LPs are still bullish about the sphere and see strong prospect for ontogeny in the make out decade .
Abe Yokell , one of the firm ’s co - founders and cope partners , declined to comment .
Venture capital ’s appetence for this blank is n’t a surprise . Investors have said that both climate tech and AI are two shining topographic point in an otherwise dreary speculation market . Deals for companies in those sectors have been closing faster than others , they ’ve severalize me .
In fact , investors were instrumental inthe creation of Congruent ’s last fund . The firm had pulled together a few special - purpose vehicles to satiate its LPs ’ desire to digest their early - stage investments , and it actualise that there was enough appetence out there for a larger offering . The $ 300 million continuity fund , which the firm pronounce it shut down in April , was recruit to binge those investor .
Join us at TechCrunch Sessions: AI
Exhibit at TechCrunch Sessions: AI
Now that some of Congruent ’s first portfolio company have grown up , it ’s only natural that the business firm would look to find some young source and Series A startups to back .
Yokell antecedently say that the continuity stock was “ mostly done ” when the Inflation Reduction Act was passed .
In the 15 months or so since the law was pass away , $ 350 billion in private capital has been trust to clean power projects , accordingto the American Clean Power Association . Moreover , announced investments in electric vehicle and assault and battery production have topped $ 140 billion , accordingto the Biden administration .
Given that the constabulary run through 2032 , the coming decade is potential to see free burning activity in climate technical school . It ’s not surprising that investors would need to ride that wave .
Note : This tale ’s newspaper headline was update to reflect the fact that the business firm is raising $ 250 million , not $ 300 million .
