Washington, USA
Impact-oriented vc fund to 2x private investment with state-matched dollars to accelerate equitable climate tech innovation. Fund ignites bold, place-based climate solutions that drive local resilience and global impact.
Scaling
Last update: October 05, 2023
With inconsistent federal leadership, and the downturn in venture capital for climate tech, promising innovations for climate change mitigation and resilience now risk dying on vine due to lack of funding. Most venture capital is concentrated in Silicon Valley, Boston, and New York, and is chasing artificial intelligence deals (which have the potential to intensify climate change due to datacenter energy demands). That capital gap is even wider for women, BIPOC, and rural entrepreneurs that have historically been overlooked.
The Opalene Climate Capital Fund is a blended finance vehicle that combines venture capital, catalytic capital, and public capital. It is purpose-built to deliver climate, social, and economic impact alongside financial returns. The pool of capital sourced is from impact investors, philanthropists, foundations, and the state of Washington. The Fund will invest in promising companies based in Washington State, a place that benefits from supportive climate policies, a vibrant economy, a robust philanthropic sector, world-class research institutions, a deep talent pool, and passionate entrepreneurs.
The Opalene Climate Capital Fund seeks to invest up to $25M USD in 15-20 Seed and Series A stage climate technology companies that are based in Washington State, or have significant operations within the state.
