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There's nothing terrible about having multiple closes. And its portfolio represents companies that will help to decarbonize every sector of the economy energy, fleet electrification, farming, new food products, sustainable aviation fuels, manufacturing, and more. The new fund nearly doubles the firm's assets to . Bloomberg Daybreak Europe, anchored live from London, tracks breaking news in Europe and around the world. Well played. Even Congruents early-stage portfolio has been fielding inbound interest from SPACs in search of acquisition opportunities. 4. We also had the chance to hear about some of the more exciting investments Emmeline Ventures has made. Building something impactful in the climate space is no easy feat, but with determination, a clear vision, and the right resources and support, it is definitely achievable. Data caveats - this analysis is on US startups, Seed through Series F. I was also happy to discover someone else in the venture world who thinks controlled environment agriculture is a necessity yet is deeply suspicious about vertical farms business models. SAN FRANCISCO, CA, April 19, 2023 Congruent Ventures, an early-stage climate and sustainability venture firm, today announced the close of its first Continuity Funds focused on quickly scaling its early-stage portfolio with more than $300 million in commitments, highlighting the interest of institutional investors seeking exposure to climate venture despite a challenging fundraising environment. Look back over the past few paragraphs and notice how many times I used the word connection doing so, youll get a glimpse at the degree to which the venture world hinges on professional networks. Well done! Sweet spot: $1.5M. Congratulations Joshua Posamentier! 28 April 2023, Subscribe to receive Canary's latest news. On Thursday, the young San Francisco-based firm closed a $ 175 million second fund, bringing it to $ 300 million under management. - how many fund closes (tldr: one and done is lovely but a vanity metric) I bet DeSantis wins the election. Nearly a decade passed before institutional investors were ready to start harvesting from the CleanTech / ClimateTech garden again. He also was executive . Congruent Ventures Ivey Business School at Western University Experience Partner Congruent Ventures Apr 2022 - Present1 year 1 month San Francisco Bay Area CPP Investments 3 years 10 months. We're committed to making the right talent, resources, and ideas available to our entrepreneurs. It is a Yindjibarndi word meaning sun. CEO @ Acquire.com. The Series A funding round was led by Union Square Ventures with participation from Congruent Ventures, National Grid Partners, Powerhouse Ventures, Elemental Excelerator, and FJ Labs. As capital pours in to climate investments, Congruent Ventures closes Despite the Congruent Ventures, startups are often financed . Credit Suisse AT1 Bondholders Who Lost $1.7 Billion in UBS Deal File Lawsuits, HDFC Kick-Starts $1 Billion Credila Sale by Picking Jefferies as Adviser, Sources Say, Weak Yen Pushes Japan Inflation Expectations to Four-Month High, Australia Signals Further Tightening Ahead After Unexpected Hike, IMF Says China Has Space to Keep Monetary, Fiscal Policy Loose, NXP Rallies After Maker of Automotive Chips Gives Rosy Forecast, Britains Broken Planning System Makes Home Buying a Pipe Dream, Vice Media Weighs Bankruptcy After Laying Off Staff, NYTSays, Tesla Raises Prices Slightly of Model 3, Model Y in China, US, CEOs Warning of ChatGPT Threat Sparks 38% Rout in Edtech Stock, URGENT: Palestinian prisoner dies in Israel after long hunger strike, SouthKorea, Japan Finance Ministers Meet for First Time in Seven Years, First Republic Sale Fills Bankers With Relief and Worry, Morgan Stanley Plans 3,000 More Job Cuts as Dealmaking Slumps, Hollywood Writers Go On Strike, Seek Higher Pay in Streaming, FIFA Threatens to Pull Broadcast of Womens World Cup in Europe, The Sun the Banking World Revolves Around, The ECB Needs to Slow the Rate-Hike Express, More Companies Head to Space, But No One Can Agree on the Rules Up There, Why Chinese Banks Arent Worried About Depositors Fleeing, The Boring Old Box Truck Gets the Tesla Treatment, E. Jean Carroll Testifies TrumpCritic Conway Encouraged Her Lawsuit, Trump Is Denied Mistrial Over Unfair Rulings in E. Jean Carroll Case, ADBs New Climate Program to Offer Up to $15 Billion in Loans, Billionaire Adani Focuses on Energy as Green Unit Profit Surges, Germany Sets the New Standard for Cheap, National Mass Transit, Chinas Now Spurning Ugliest Buildings That Symbolized Its Meteoric Rise, Broke Chinese Gen Zs Turn Factory Town into Top Tourist Spot, How a Blackpool Gang That Couldnt Shoot Straight Pulled Off a $24.5 Million Crypto Heist, Coinbase Sued for Privacy Violations Over Customer Biometrics, Coinbase Insiders Sued for Dumping Stock, Saving $1 Billion.