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Photo Illustration: Aïda Amer/Axios. Photo: Photo by Nicola Gell/Getty Images for SXSW.

Chris Sacca was one of the past decade's most successful venture capitalists, with a run that included early bets in such companies as Instagram, Twitter and Uber. Then, in 2017, he quit.

Driving the news: Sacca is good at investing, but bad at retiring. He's now running a new firm called Lowercarbon Capital, focused on startups that are developing "technologies to reduce CO2 emissions, remove carbon from the atmosphere, and actively cool the planet."

"Clean tech" remains a dirty word for many venture capitalists, due to the mountains of cash lost on such deals in the late aughts.

  • Sacca argues that the sector today is akin to internet tech in 2005 when Y Combinator launched, in terms of lower startup costs and clearer paths to scale.
  • This is not, he stressed to me yesterday during a CB Insights conference interview, a charity case. Sacca also says he welcomes the investment participation of oil majors like Chevron and ExxonMobil, even though that's blasphemy in some clean-tech investment circles.
  • Portfolio companies include a startup focused on lithium extraction tech, a carbon credits marketplace, and an oyster hatchery in Maine.

Details: Lowercarbon currently is structured as a family office ⁠— Chris' wife Crystal is co-founder ⁠— in the tens of millions of dollars. It hasn't yet accepted outside money save for a few special-purpose vehicles with institutional investors from Sacca's prior funds, but there's a growing possibility that it will do a formal fundraiser.

  • Elsewhere: Climate tech investing is having a big week. Sweden's Pale Blue Dot raised $60 million for a new fund, Prime Impact Fund emerged from stealth with $50 million, and Copenhagen Infrastructure Partners raised a €1.5 billion fund focused on renewable energy infrastructure.

The bottom line: Sacca's participation could prompt others to tip their toes back in, or for the first time, but a stampede is unlikely until the new generation of clean tech companies produces a massive hit.

Go deeper

Ben Geman, author of Generate
Sep 24, 2020 - Energy & Environment

CO2 capture is growing but still lags badly, IEA says

Screenshot of IEA's "CCUS in Clean Energy Transitions" report

There's growing momentum behind deploying technology that traps and stores CO2 emissions, but much more investment and stronger policies are needed, the International Energy Agency said in a new report.

Why it matters: The technology is vital to enabling the radical emissions cuts needed through the 2050-2070 timeframe to keep temperature rise in check, the agency said.

2 hours ago - World

UN Security Council meeting on Israel-Gaza as fighting enters 7th day

Smoke billows from a fire following Israeli airstrikes on multiple targets in Gaza on May 16. Photo: Mohammed Abed/AFP via Getty Images

The United Nations Security Council was preparing to meet Sunday, as the aerial bombardment between Israel and Hamas between entered a seventh day.

The latest: Four Palestinians died in airstrikes early Sunday, as Israeli forces bombed the home of Gaza's Hamas chief, Yehya al-Sinwar, per Reuters.

7 hours ago - World

In photos: Protests in U.S., across the world over Israeli–Palestinian conflict

A protest march in support of Palestinians near the Washington monument in Washington, D.C. on May 15. Photo: Andrew Caballero-Reynolds/AFP via Getty Images

Thousands of people rallied across the U.S. and the world Saturday following days of violence in Gaza and Israel that's killed at least 145 Palestinians, including 41 children, and eight Israelis, per AP.

The big picture: Most demonstrations were in support of Palestinians. There were tense scenes between pro-Israeli government protesters and pro-Palestinian demonstrators in Winnipeg, Canada, and Leipzig, Germany, but no arrests were made, CBS News and DW.com report.