Tech heavyweights form alliance for sustainable energy investments to nurture promising startups akin to Microsoft.
New Coalition Aims to Boost Clean Energy Technologies
A new coalition, named All Aboard, was launched on Wednesday with a mission to support promising clean energy technologies. The coalition, comprising thirteen major venture capital firms, aims to produce the next major tech companies of the climate era.
At the heart of the coalition is a group of highly proficient investors, according to Chris Anderson, a founding partner and climate investor. These investors are skilled at identifying companies with potential for success in the clean energy sector.
The coalition plans to hold an annual "convening" to connect these companies with potential financial partners. One such partner is Breakthrough Energy Ventures, led by Microsoft co-founder Bill Gates. Khosla Ventures is another participant in the coalition.
Gigascale Capital, founded by former Meta executive Mike Schroepfer, is also part of the coalition. The coalition is starting a fund with the aim of investing over $1 billion in clean energy technologies.
The three most significant investors in the All Aboard Coalition, not directly mentioned in the text, are Ara Partners, Breakthrough Energy Ventures, and Khosla Ventures. These investors are part of the coalition's notable climate investor network, supporting a $300 million fund to bridge late-stage funding gaps for climate technology startups.
The All Aboard coalition aspires to be a catalyst for the development and success of innovative clean energy solutions, contributing to a sustainable future for all.
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