Climate Finance | July 29, 2021

Elevate Future Fund raises more than $60 million for diverse founders of climate startups

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, July 29 — New York-based Energy Impact Partners is supplementing its strategy of enlisting corporate partners to invest in energy-transition technologies.

The add-on: Building a more equitable and inclusive low-carbon economy by investing in underserved communities and companies led by diverse founders.

The Elevate Future Fund will partner with tech accelerators and historically Black colleges and universities. EIP said the fund raised more than half its $120 million target with new commitments from Microsoft, Alliant Energy, Southern Company, Xcel Energy and others.

Impact tech

Elevate Future Fund’s portfolio includes ChargerHelp, an electric-vehicle charging repair startup founded by two Black women (see, Agents of Impact: Evette Ellis and Kameale Terry); and HopSkipDrive, a woman-led ride-hailing service platform providing transportation for homeless and foster youth through contracts with schools and public agencies.

Climate justice

A growing network of Black investors, entrepreneurs and operators is using proximity to communities and their own lived experience to build companies that solve for both the environment and justice (see, “Climate justice provides an edge in the green economy).