We’re excited to be sharing our 2023 Impact Report, which really isn’t about us. It’s about the incredible work of our portfolio companies who are building technologies to decarbonize energy, mobility, food systems, and industry at scale.
A few highlights from 2023:
🌎 - The market remains strong for climate technology: In 2023, in spite of an overall market slowdown, our portfolio raised $342 million. While the broader venture market declined 30% (U.S.) to 45% (Europe), climate tech venture remained resilient, staying within 15% of 2022 volumes. The category remains very active and we’re seeing competitive rounds across stages.
☀ - We continue to outperform our peers in DEI: 45% of the dollars deployed from Earthshot Ventures have gone to underrepresented founders, reflecting our commitment to diversity and inclusion. 31% of our dollars have been deployed to female founders, which is well above the average across the venture ecosystem.
🌳 - Our portfolio continues to grow: Our portfolio expanded to 21 investments. We’re particularly excited about growth across our portfolio including KoBold Metals, Parade AI, and Vaulted Deep, who are featured in this report. Each investment in our portfolio is carefully considered for climate impact and financial performance.
📈 - Carbon impact is primed to scale: We continue to track and measure direct carbon reductions across our portfolio. Our report showcases 4,581 tons of CO2 equivalent reduced by our portfolio in 2023, with nearly 40,000 tons of CO2 equivalent projected to be reduced in 2024. Each commercial inflection point that we support through our dollars and coaching creates momentum toward greater impact.
☘ - We’re doubling down on a collaborative investment approach: We have co-invested and collaborated with diverse and experienced VC firms, from both inside and outside of climate, highlighted on page 21 of the report. We are also continuing our deep collaboration with Elemental Excelerator by sharing investment opportunities and resources. Looking ahead, we believe the news regarding the Greenhouse Gas Reduction Fund will be a meaningful accelerant in addressing climate change, and we look forward to collaborating with Elemental as the capital is deployed through this historic fund.
Check out the full Earthshot Ventures 2023 Impact Report here: https://lnkd.in/gE_GVxxY
Planet FWD, Lilac Solutions, Vibrant Planet, Mitra Chem, Kanin Energy, KoBold Metals, Halo.Car, Mootral, Noteworthy AI, Toucan, Tread, Derapi, Aquabyte, Pattern Ag, Sunstone Credit, LayerUp, SuperCircle, Vaulted Deep, Sightline Climate (CTVC), PitchBook, Mike Jackson, Dawn Lippert, Matt Logan, Austin Blackmon, Garrett Apel, Brianna Rodrigues
