Lowercarbon Capital, a venture capital fund with a focus on climate tech and led by American entrepreneur and venture investor Chris Sacca has raised $800 million, according to a statement published by Sacca today.
Chris Sacca is well known in the world of investing as having a keen eye for very successful companies early on in their stages of development. For example, through his venture capital firm Lowercase Capital, he made early bets on tech giants like Uber and Twitter, among others.
According to Sacca’s statement, the capital of his climate fund, Lowercarbon Capital, was raised in a matter of ‘just a few days’. Unsurprisingly, the call for commitments was especially loud and clear against the background of raging wild fires and an unprecedented heat wave.
In fact, a new report issued by the United Nations’ climate science research group sounded the alarm this Monday about the current state of affairs and declared a ‘code red for humanity’.
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But even for those investors who remain impartial towards climate change and the effects it has and will continue to have on the planet and therefore life as we know it, Chris Sacca was happy to note the other side to funding climate technology. As he continued in his statement, these types of investments have the potential to pay off handsomely, which alone is enough to bring about change.
Now with such a large amount raised, Lowercarbon Capital will be divided into four smaller funds to get busy and start allocating funds very soon.
The fund also recently announced that it will be investing $2.7 million in a startup called Holy Grail, working on modular carbon capture devices.