Lowercarbon raises $550 million, blasts VC rivals for taking "blood money"

Per the letter:

"We've built all this without taking any blood money from countries actively working to undermine democracy while trampling human rights and obstructing efforts to solve the climate emergency. Maybe your firm could try that too?"

Details: The first fund, dubbed 421.0, will focus on pre-seed and seed-stage deals. The second will be an opportunities fund that lets Lowercarbon double down on select portfolio companies.

• "421.0" refers to parts per million of carbon dioxide in the atmosphere when the fund was launched. Earlier fund names were 411.2 and 419.1.

The bottom line: Sacca notes in the letter than he and Lowercarbon colleagues will be in New York for Climate Week, which kicks off today. Those sideline conversations may be worth eavesdropping on.