Tom Steyer Launches New $1 Billion Climate Investment Fund
The fund looks to make investments in companies that will provide climate benefits in the next decade.
Tom Steyer, co-executive of Galvanize Climate Solutions. The firm announced Thursday that it closed its Innovation + Expansion Fund, which will invest in startups aiming to provide climate benefits in the next decade.
Photographer: Eva Marie Uzcategui/BloombergClimate tech investments have dipped this year, but a new fund with more than $1 billion to spend is entering the sector.
Galvanize Climate Solutions announced Thursday that it closed its Innovation + Expansion Fund, which will invest in startups aiming to provide climate benefits in the next decade. In doing so, the fund is looking for companies that can make a relatively immediate impact rather than asking if something is “going to work in the lab,” said Tom Steyer, Galvanize’s co-executive chair.