(Credit: Pixabay)Galvanize Climate Solutions has closed its first venture and growth equity fund, the Innovation + Expansion Fund, at over $1 billion.
Galvanize Climate Solutions is a global climate-focused investment firm that is one of the largest climate ventures to date. The fund has a diverse set of institutional investors, including leading endowments, foundations, and family offices. It focuses on early- to growth-stage climate companies driving decarbonization and will provide interdisciplinary resources to accelerate the path to commercial scale in addition to capital.
The fund’s investment team touts in-house experts across industries relevant to climate company builders, including climate science and technology, regulatory affairs, market development, impact measurement, and talent acquisition.
The fund is led by Veery Maxwell, Saloni Multani, and Cliff Ryan, who have climate expertise and experience in building and managing multi-billion dollar investment strategies. Members of the portfolio services team have held roles at ARPA-E, the National Renewable Energy Laboratory, and the White House Council on Environmental Quality, among other leading climate, technology, and government organizations, the fund said in its announcement.
Katie Hall and Tom Steyer are the founders. Steyer previously founded and ran one of the first multi-strategy global investment firms, Farallon Capital Management, which grew to over $36 billion in assets under management under his leadership.
“Fully realizing the most significant investment opportunity of our time and succeeding in ushering in the climate transition will require more than capital alone,” Steyer, co-executive chair of Galvanize, said in a statement. “That’s why, based on years of investment experience and an understanding of the resources needed to accelerate critical climate solutions, we deliberately built Galvanize to forge a new model for climate investing, alongside constructing a world-class team built for this moment. We are thrilled to have the support of our partners in pursuit of this opportunity.”
According to its leader, the fund takes an interdisciplinary approach across the investment cycle that aims to provide long-term value for investors and provide resources to its portfolio companies. Its investment companies can gain access to services such as customer introductions, talent recruitment, and regulatory analysis and guidance.
The fund has already invested in several companies including Alcemy, Arable, Lydian, Plotlogic, Pulsora, Regrow, the Routing Company, VEIR, Watershed, Worldly, and Zhero.
“We are witnessing an inflection point in the transformation of the global economy,” Saloni Multani, co-head of Innovation + Expansion at Galvanize, said in a statement. “The alignment of market forces – including corporate commitments, regulatory and policy progress, consumer expectations, workforce talent preferences, technological maturation, and economic competitiveness – is driving substantial tailwinds behind the climate sector. We believe immense value will accrue to the technologies and solutions that can drive meaningful decarbonization over the next decade.”
