Impact Investing | November 10, 2022

VoLo Earth raises $90 million for debut climate tech early-stage fund

Amy Cortese
ImpactAlpha Editor

Amy Cortese

ImpactAlpha, Nov. 10 – Snowmass Village, Colo.-based VoLo Earth launched in 2020 to invest in early stage climate deals across electricity, mobility, buildings, and embodied carbon.

The firm says brisk demand from a wide range of investors, including Credit Suisse’s Climate Innovation Fund, enabled it to blow past its initial $50 million target.

“The combination of policy, capital, and entrepreneurial talent is accelerating the new energy economy, providing a ripe opportunity set for firms like VoLo Earth to combat the climate crisis while generating attractive returns for our investors,” said the firm’s Joseph Goodman. 

VoLo Earth looks for companies with products and services that save money and decarbonize. “We believe that leading with economics is the best way and the fastest way to decarbonize,” the firm’s Kareem Dabbagh told ImpactAlpha in an interview over the summer. 

The firm has made about 28 investments to date, deploying about half of its committed capital. They include air conditioning startup Blue Frontier, solid state battery maker Ion Storage Systems, predictive power industry analytics software maker Gaiascope, and project finance platform Banyan Infrastructure.

VoLo Earth also works closely with RMI’s Third Derivative climate tech accelerator and has invested in several of its startups.