Systemic Capitala patron of early-stage climate technology startups, says it has raised $70 million to launch its second fund.
London-based venture capital plans to raise another $130 million; it would be a big step forward for the firm, which says it has invested $30 million in 19 startups since 2018.
As for the use of this money, Systemiq says it is intended to fund founders who are focused on making major industries and cities “more efficient and sustainable.” In practice, it will fund key areas such as regenerative land use, oceans, transport and the circular economy.
Systemiq’s Past Deals Include Climate Data Company Jupitertransport data firm Nautilus Labs (whose co-founder later launched bedrock) and an ESG-focused investment startup openinvest. Last year OpenInvest sold to JP Morgan, the world’s largest sponsor of fossil fuels.
Systemiq was founded by McKinsey veterans Jeremy Oppenheim and Martin Stahti. The consulting giant that evaluates 10 billion dollars a year in revenue also has a long history of working with many of the world’s major pollutants.
Systemiq partner and former Goldman chief executive Irena Spazzapan will manage the second fund alongside Oppenheim and former Unilever chief executive Paul Polman, the firm said.
Credit: techcrunch.com /