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

Updated 11 mins ago - Politics & Policy

Mary Trump book: How she leaked Trump financials to NYT

Simon & Schuster

In her new memoir, President Trump's niece reveals how she leaked hordes of confidential Trump family financial documents to the New York Times in an effort to expose her uncle, whom she portrays as a dangerous sociopath.

Why it matters: Trump was furious when he found out recently that Mary Trump, a trained psychologist, would be publishing a tell-all memoir. And Trump's younger brother, Robert, tried and failed to block the publication of "Too Much and Never Enough: How My Family Created the World's Most Dangerous Man."

Updated 22 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Global: Total confirmed cases as of 3:30 p.m. ET: 11,691,068 — Total deaths: 540,062 — Total recoveries — 6,349,542Map.
  2. U.S.: Total confirmed cases as of 3:30 p.m. ET: 2,963,244 — Total deaths: 130,813 — Total recoveries: 924,148 — Total tested: 36,225,015Map.
  3. 2020: Biden releases plan to strengthen coronavirus supply chain.
  4. Congress: Trump administration notifies Congress of intent to withdraw from WHO.
  5. Public health: Fauci says it's a "false narrative" to take comfort in lower coronavirus death rate.
  6. World: Brazil's President Bolsonaro tests positive— India reports third-highest case count in the world.
42 mins ago - Health

Fauci: "False narrative" to take comfort in lower coronavirus death rate

Anthony Fauci testifies in Washington, D.C., on June 30. Photo: Al Drago/AFP via Getty Images

Anthony Fauci said at an event with Sen. Doug Jones (D-Ala.) on Tuesday "that it's a false narrative to take comfort in a lower rate of death" from the coronavirus in the U.S., warning: "There’s so many other things that are dangerous and bad about the virus. Don’t get into false complacency."

The big picture: The mean age of Americans currently being infected by the virus has declined by 15 years compared to where it stood several months ago. This has been one contributing factor in the lower death rate the U.S. has experienced during the recent surge in cases, since "the younger you are, the better you do, and the less likely you're gonna get seriously ill and die," Fauci said.