Planet-Positive Venture Capital Firms in an undertaking Closed on its Fund I, which aims to invest $150 million in startups that are innovating in the tech hardware space and specialize in environmentally positive technology.
The Bay Area firm was started in 2019 by GoogleX co-founders Tom Chee, Laurie Menaud, who co-led venture capital for the North American BASF, and Helen Lin, who helped provide banking services to low-income populations in Africa. time spent in providing services.
Chi told Nerdshala that the combination of scientific, financial and deep-tech backgrounds gives him the advantage of being able to evaluate hardware and environmental economics to find companies that are truly making humanity positive for nature.
Chi had a home in Hawaii and said he saw a nearby coral reef going from every color of the rainbow – full of life – to gray and brown in just a few months.
“We are on a mission to find early stage startups that are destroying the industries that nature destroys,” he said. “Being witnessing one of the most beautiful things, one needs to do something about it, and so I quit my job and witnessed some of the most environmentally destructive and social evils around the world, and it Inspired me to launch my own firm.”
He believes the most serious carbon emissions cuts are unlikely to stop global warming at 1.5°C above pre-industrial temperatures by 2040. Instead, the answer goes beyond stopping emissions to repair damage and fix problems at a deeper level.
One Ventures’ investment thesis doesn’t stop at the founder, product, and company, but takes an in-depth look at the company’s unit economics. Chi explained that most startups are trying to be planet-positive, but their business model involves asking consumers to pay more money for a product that may only benefit the environment 30% better. Instead, the firm is looking for companies that can scale a product that, for example, will cost three times less, and be 50% better for the environment.
Here’s the big potential: Chi is aiming to raise $300 million for its second fund, a milestone he said the firm is on track to achieve.
The firm has invested in 21 of the 30 companies for its first fund. Ultimately, the firm plans to invest in 100 companies over the next decade. Chi said his team made more than 2,600 deals to reach 21. Some of them include robotic indoor farming company Iron Ox, earth digestible foam packaging company Cruz Foam and zero water textile dyeing company Alchemy Technology.
“We don’t have time to make bad investments, we only have a decade to get this right,” he said. “Even in an ideal world, our investments would still represent only 1% of the capital going into climate technology, and the other 99% also need to be deployed efficiently. The capital we have and Time is there, we are all limited in that.”