Azolla Ventures Raises New $239M Fund to Support Overlooked Climate Solutions
Summary
The new fund invests in companies that could significantly alter the trajectory of climate change, but are overlooked by traditional capital sources. Investments made by the new Azolla Ventures fund must meet three investment criteria: • Impact: Solutions must have the potential to reduce or remove at least 0.5 gigatons of carbon dioxide equivalent emissions cumulatively by 2050; • Additionality: Solutions must be unlikely to raise sufficient financial support from conventional investors at the time of Azolla’s initial investment; and • Commercial potential: Solutions must have high potential for achieving commercial success at scale, ultimately enabling the envisioned impact. • Carbon Reform, deploying carbon capture systems in buildings for improved air quality and energy savings; Launched by Prime Coalition in 2021 by Matthew Nordan, and Amy Duffuor, Azolla Ventures is an early stage investor in climate breakthroughs that could avert catastrophic climate change. Prime Coalition is a nonprofit organization that steers and influences capital to support scalable solutions to climate change. To influence capital, Prime collaborates to build open source tools and convenes Project Frame to organize investors to improve forward-looking emissions impact methodologies and reporting best practices for climate-driven investments.