DCVC invests in “deep tech” breakthroughs in medical treatments, food systems and other biotech applications. The The Palo Alto, Calif.-based venture capital firm says about 30 of its portfolio companies tackle climate change resilience and mitigation. Pivot Bio, for example, makes environmentally safe crop inputs as an alternative to chemical fertilizers.
DCVC has secured more than $300 million for its first climate fund to support the commercialization of deep tech ventures in energy, transportation and industrial decarbonization.
The firm has inked at least a half dozen investments from the fund. Most recently it backed California-based Unspun to help cut waste from the fashion and textile industries with machines that produce garments on site and practically on demand. Unspun signed a contract last year with Walmart.
Other DCVC portfolio companies include Fervo Energy, which is building a geothermal energy plant in Utah. DCVC reupped its investment last month in Berkeley, Calif.-based Twelve, which is building a commercial plant for sustainable aviation fuel. Equilibrium is constructing a 100-megawatt battery storage project in Texas. Verdigris uses a combination of software and sensors to help building owners monitor and manage energy usage.
DCVC recently made its first investment in the water sector: ZwitterCo makes wastewater filtration membranes that are specially designed for use in agriculture.
Separately, the firm also has closed its third biotech fund to invest in biotech companies leveraging AI.
