Colorado, U.S.A-based emerging venture capital firm that invests in early-stage climate tech companies, Volo Earth Ventures, closed its inaugural fund at USD 90 million. The company announced the closure of Volo Earth Climate Fund I on November 10, 2022. Global investors such as Credit Suisse’s Climate Innovation Fund participated in the funding. The company also received support from foundations, fund-of-funds, private equity and public equity fund managers, and high-net-worth individuals, including energy experts.
However, the company’s original target stood at USD 50 million. It nearly doubled its fund-size target.
Purpose of fund by Volo Earth Ventures
The Fund targets pre-seed through Series B investments in companies with strong follow-on opportunities.
Volo Earth Ventures focuses on transaction execution across four core sub-sectors that address the planet’s climate crisis, such as electricity, mobility, buildings, and embodied carbon.
The Fund aims to capitulate on climate solutions to deliver superior investment returns and quantifiable carbon benefits. So far, 54% of committed capital is already deployed.
What the company’s officials have to say
Joseph Goodman, the Managing Partner of Volo Earth Ventures, said, “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. VoLo Earth’s core belief is to decarbonize the global economy. It is the greatest opportunity for humanity to prosper and for 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.”
In addition, 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.”
About the company
In 2020, founders Christopher Tullar, Eric Riesenberg, Joseph Goodman, Kareem Dabbagh, and Robert Harding launched the company. The Colorado-based VC firm faces the climate crisis head-on by providing comprehensive, first-in funding and hands-on leadership to grow, propagate, and capitalize on climate solutions.
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