Like a groundhog and its shadow, many venture capitalists see a declining economy and bury themselves, resting their check-signing hand for better days.
But climate-focused VCs have been on a tear lately, pumping well over $1 billion a quarter into startups working to mitigate emissions while the Earth bakes.
Buoyant Ventures is one such company giving momentum to the industry. The Chicago-based investor told regulators this week via an SEC filing that it had blocked just over $50 million for a new fund. Buoyant declined to comment when emailed by TechCrunch, but the filing shows the company has been raising money for the fund since at least May 2021. So far, 75 (unnamed) backers have contributed. , and Buoyant fishing for just under $50. million more.
Led by Electronic Arts and Energize Ventures alum Amy Francetic and Accenture ex-executive Allison Myers, Buoyant’s first contract was in the summer of 2020. That’s when he supported Raptor Maps, which aims to help solar farms extract more juice from the sun by spotting problems. – like panel damage and shading – with drones and sensors.
Buoyant said in 2021 he was focusing on “solutions for industries that contribute the most to carbon emissions,” including electricity, transport, agriculture and buildings. Since then, he has funded at least four other early-stage startups, including FloodFlash, StormSensor and others looking to profit from emissions mitigation or climate adaptation.
Several other notable climate (and climate-adjacent) venture capital rounds have crossed our desks in recent weeks, including Fifth Wall’s $500 million fund, Climentum Capital ($157 million), Equal Ventures ($94 million). $.8 million) and Systemiq Capital ($70 million).