Starshot Capital Launches $35M Fund to Invest in Climate Companies That Can Avert 1 Gigaton of Emissions by 2050
LOS ANGELES , May 09 /Businesswire/ - Starshot Capital, a venture capital firm dedicated to finding and supporting high-impact companies in underinvested climate sectors, today announced the launch of Starshot Fund I, a $35M fund for companies working toward ambitious decarbonization goals.
Starshot backs early-stage companies that have the potential to eliminate a cumulative 1 gigaton of carbon emissions by 2050 while simultaneously delivering returns on par with the most successful venture-backed startups. Key areas of focus include the industrial sector, manufacturing, food & agriculture, the built environment, materials, and chemicals.
“The climate transition is the largest financial opportunity of the next decade,” said Starshot Managing Partner Jeremy Brewer. “Every industry is in the midst of a radical transformation — reevaluating supply chains, materials, and partners, with an understanding that their business models and their stakeholders are demanding more sustainable practices.”
Brewer, a veteran of companies including Google and Facebook, and childhood friend Sam Levac-Levey, a mechanical engineer who has worked at Tesla and SpaceX, co-founded Starshot in 2021 after the pair helped to launch Work on Climate, the largest and most active technical climate community in the world with over 28,000 members. They are joined by fellow Google alumnus Zoe Samuel, who co-created Alphabet’s 4,000+ employee climate community, as well as Dr. Nick Gould, a chemical engineer who worked on decarbonizing industrial processes at Air Products.
“Mapping out sectors helps us understand where our capital may be strategically invested to transform an industry,” said Levac-Levey, whose engineering experience includes energy storage, electric aircraft, and rockets. “By focusing on historically under-invested sectors, we maximize our impact and returns.”
Starshot draws on its deep industry connections to help founders by introducing them to potential customers, strategic partners, investors and key employees.
“Starshot Capital has been catalytic to Ecolectro’s success and Jeremy has been a deeply engaged and invaluable board member. Starshot led our Seed round and helped introduce us to the lead investor for our Series A round, as well as a significant customer account,” said Dr. Gabriel Rodriguez-Calero, CEO of Ecolectro.
The fund is the first from Starshot, which works closely with expert advisors, several of whom are successful venture capitalists, business leaders, or climate luminaries, including the founders of RegenIntel and co-creators of Project Drawdown.
"The companies that Starshot is working with can unlock critical business opportunities by advancing needed climate solutions, dramatically reducing emissions while growing the bottom line," said Starshot advisor Jeff Seabright, who served as the CSO of Unilever, the CSO of Coca-Cola, and the executive director of the White House’s Climate Change Task Force under President Bill Clinton.
Starshot’s seven portfolio companies so far include Mojave, whose commercial HVAC technology reduces energy use by over 50% while reducing harmful refrigerants; Rumin8, whose seaweed-inspired feed additive improves digestion for cattle and other ruminants, lowering feed costs and methane emissions; Harvest Thermal, whose thermal battery helps homes reduce electricity bills by 30% and emissions by 90%, and Ecolectro, whose technology makes green hydrogen affordable and non-toxic, eliminating the need for noble metals, titanium, and forever chemicals.
“Starshot has a unique advantage in the climate space, thanks to our work helping thousands of people pivot into the sector,” said Zoe Samuel. “Through Work on Climate and our other networks, we frequently meet and assist exceptional climate founders at the idea stage. By the time they’re raising money, often the relationship and the trust are already there.”
About Starshot Capital
Starshot Capital supports ambitious entrepreneurs building high-impact, high-growth climate companies. We believe the green transition represents the greatest opportunity for positive impact and stellar economic returns of the next decade. Our mission is to accelerate the work of founders building transformational businesses at the earliest stages by connecting them to key partners, customers, and employees. More at https://starshotcapital.com.
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