ImpactAlpha, June 18 – The founder of CapitalG, Google’s venture arm, has raised $175 million to invest in growth-stage impact enterprises. Scott Tierney said Valo Ventures will invest in companies using digital technologies to address climate change, the circular economy, urban quality of life, mobility and transportation, and to build better consumer products and services.
“We started Valo because we believe that today’s entrepreneurs and emerging digital technologies are shaping what the future looks like for generations to come,” Tierney said in a statement. The firm says it values “people over algorithms” and “diversity as a source of resilience and insight.”
Valo has backed four companies including women-led and women-focused career planning site Landit, climate monitoring company PlanetIQ, and AI-based manufacturing software company Atollogy.
Valo’s fund is globally focused and anchored by Finnish clean energy company Fortum.