- Lowercarbon Capital, the climate change-focused VC firm launched by early Twitter and Uber investor and Shark Tank star Chris Sacca, has raised $800 million in capital.
- In an announcement, Sacca said that the firm was able to “wrap up fundraising just a few days after starting” the process. “It turns out that raising for a climate fund in the context of an unprecedented heatwave and from behind the thick clouds of fire smoke probably didn’t hurt,” he wrote.
Why it matters:
Lowercarbon Capital — which Sacca initially founded as his family office before seeking outside partners — has already invested in around 50 startups that run the gamut when it comes to climate-themed technology.
Zeroing in on agrifoodtech, the firm’s bets include alt-protein producers HigherSteaks and Mosa Meat; livestock methane-reduction supplement Mootral; sustainable crop input makers Kula Bio, Soil Carbon Co, and Nitricity, the latter of which just closed a $5 million seed round; and forestry-related startups Dendra, Living Carbon, and Pachama. [Disclosure: Our parent company AgFunder is an investor in Kula Bio.]
Dendra and its ‘forest-patrolling drones’ close $10m Series A from Airbus, others – read more here
According to TechCrunch, the $800 million will be divided between four distinct funds – though no further details were given on what each of the funds will focus on.