Climate and Clean Tech | September 19, 2023

Chris Sacca’s Lowercarbon Capital raises $550 million for two climate tech funds

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, September 19 — Lowercarbon Capital has raised a combined $550 million for a pair of climate funds. One fund will focus on early-stage climate ventures, hunting down pre-seed and seed-stage deals. The other will make select follow-on investments.

Lowercarbon has cut a series of deals since tech investor Sacca and his wife, Crystal, invited in outside investors two years ago.

Recent investments include UK-based Isometric, which is building a carbon registry for long-duration carbon credits, and San Francisco-based Charm Industrial, which is converting agricultural waste into carbon-rich bio-oil and sequestering it underground. Quilt, in Redwood City, Calif., is designing and building small energy-efficient heat pumps.

Strategic LPs

Since 2021, Lowercarbon has raised several hundred-million dollar funds, including $350 million to commercialize carbon removal. Lowercarbon closed a $250 million fund last October to back fusion energy startups.

“We’ve built all this without taking any blood money from countries actively working to undermine democracy while trampling human rights and obstructing efforts to solve the climate emergency,” Sacca boasts.

The new fund brings Lowercarbon assets under management to $2 billion.