Jan 27, 2017

Clean energy VCs team up for a new fund

Congruent Ventures is a new VC firm on the block, and it's targeting $50 million for its first fund, according to a new SEC filing. The Oakland-based firm also filed separately for a "follow-on" fund that also has $50 million target, although it's unclear is this is a separate vehicle or some sort of sidecar.

The partners: Abe Yokell, who spent the past 12 years with RockPort Capital Partners, where he focused on clean-tech and sustainability; and Joshua Posamentier, who joined Prelude Ventures in 2012 to focus on areas like energy, sustainability, and agriculture. They are the only ones listed.

The firm: Not much is publicly available about Congruent Ventures, although a sparse website describes the firm as " investing in sustainable technologies."

  • Clean-tech investments have gone in and out of fashion in the past decade. After a rush of interest from firms like Kleiner Perkins about 10 years ago, disappointing results caused many investors to retreat from the category. Launching a new fund now is particularly interesting: On the one hand, you have increasing interest in electric cars, alternative food production and global concerns about climate change. On the other, you have a White House that seems much more interested in fossil fuels than in clean technologies, let alone climate change.

Yokell declined to comment on the fund, citing regulatory restrictions.

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Bernie's juggernaut

Sen. Bernie Sanders speaks in San Antonio last night with his wife, Jane. Photo: Eric Gay/AP

Sen. Bernie Sanders won so big in the Nevada caucuses that Democrats are hard-pressed to sketch a way he's not their nominee.

Driving the news: With 60% of precincts counted (slow, but better than Iowa!), Sanders is running away with 46% of delegates — crushing Joe Biden's 20%, Pete Buttigieg's 15%, Sen. Elizabeth Warren's 10% and Sen. Amy Klobuchar's 5%.

Go deeperArrowUpdated 1 hour ago - Politics & Policy

Buttigieg campaign claims Nevada caucuses were "plagued with errors"

Photo: Win McNamee/Getty Images

Pete Buttigieg's campaign wrote a letter on Sunday asking the Nevada State Democratic Party to release early vote and in-person vote totals by precinct and address certain caucus errors identified by campaigns, The Nevada Independent reports.

The big picture: The campaign alleges that the process of integrating early votes on caucus day was “plagued with errors and inconsistencies,” and says it received more than 200 incident reports from precincts around the state.

Go deeperArrowUpdated 1 hour ago - Politics & Policy

Coronavirus threat grows, threatening some drug supplies

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

As the novel coronavirus continues spreading globally and China grapples with a limited production capability, there's a growing risk to about 150 prescription drugs in the U.S., sources tell Axios.

The big picture: The coronavirus has spread to more countries, with both South Korea and Italy stepping up emergency measures amid rising case numbers on Sunday. COVID-19 has killed at least 2,467 people and infected almost 79,000 others, mostly in mainland China.

Go deeperArrowUpdated 2 hours ago - Health