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.

Go deeper

Obama: Trump is "jealous of COVID's media coverage"

Former President Barack Obama launched a blistering attack on President Trump while campaigning for Joe Biden in Orlando on Tuesday, criticizing Trump for complaining about the pandemic as cases soar and joking that he's "jealous of COVID's media coverage."

Driving the news: Trump has baselessly accused the news media of only focusing on covering the coronavirus pandemic — which has killed over 226,000 Americans so far and is surging across the country once again — as a way to deter people from voting on Election Day and distract from other issues.

Wisconsin Democrats: Don't return absentee ballots by mail

Signs for Joe Biden are seen outside a home in Coon Valle, Wisconsin, on Oct. 3. Photo by KEREM YUCEL via Getty

Wisconsin Democrats are urging voters to return absentee ballots to election clerks’ offices or drop boxes after a Supreme Court decision on Monday prevented the state from extending its deadline for counting absentee ballots, The New York Times reports.

Why it matters: 1,344,535 of the 1,706,771 Wisconsin voters who requested absentee ballots have returned them, according to the Times. The remaining 366,236 could prove critical in the battleground state, where President Trump won by a thin margin in 2016.

Dan Primack, author of Pro Rata
Updated 2 hours ago - Economy & Business

Winter coronavirus threat spurs new surge of startup activity

Illustration: Sarah Grillo/Axios

U.S. coronavirus cases and hospitalizations are surging, with cold weather arriving before even the best-case scenario for a widely distributed vaccine. Now we're also beginning to see an increase in coronavirus-related startup funding, focused on both testing and pharma.

Driving the news: Gauss, a Silicon Valley computer vision startup focused on health care, tells Axios that it's raised $10 million to accelerate development and commercialization of an at-home rapid antigen test for COVID-19.

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