A new report out of the World Economic Forum estimates $12.5 trillion in global economy losses due to the toll climate change is expected to take on the planet. Climate goals for many businesses have been pushed back or seem out of sight. This is where Venture Capital firm Climatic comes in - the firm's $65 million inaugural fund is aimed at backing founders who are starting climate tech software companies.
Climatic Co-Founders and Managing Partners Josh Felser and Raj Kapoor join Yahoo Finance to discuss the challenges with climate tech, investing in climate tech, and how they plan on advancing climate tech to aid in reducing the harm that climate change poses on the world and the global economy.
"In general, people are pulling back a bit because they're not seeing the distributions, the liquidity from their existing venture portfolio," Kapoor says. "And the last couple of years, most existing venture managers have come for double, triple their fund size. They are feeling tapped out right now. What we're seeing the last couple of months is light at the end of the tunnel for future sectors."
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9 сен 2024
