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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

"Atmospheric river" swings Northern California from drought to flood

Satellite view of the bomb cyclone swirling off the coast of the Pacific Northwest and the atmospheric river affecting California on Oct. 24. Photo: CIRA/RAMMB

A series of powerful "atmospheric river" storms are delivering historic amounts of rainfall across parts of drought-stricken California and the Pacific Northwest — triggering widespread power outages and flooding.

Why it matters: The strong atmospheric river, packing large amounts of moisture, is causing Northern California to whiplash from drought to flood.

Updated 2 hours ago - World

Saudi dissident claims MBS said he could get "poison ring" to kill king

Saudi Crown Prince Mohammed bin Salman attending the Saudi Green Initiative Forum, via video link, in Riyadh, Saudi Arabia on Saturday. Photo: Royal Court of Saudi Arabia/Handout/Anadolu Agency via Getty Images

A former senior Saudi intelligence official who worked with the U.S. on counterterrorism alleged to "60 Minutes" in an interview broadcast Sunday that Crown Prince Mohammed bin Salman discussed in 2014 killing the kingdom's then-monarch.

Why it matters: The claim by the exiled Saad al-Jabri, whom Saudi authorities describe as "a discredited former government official," that the crown prince, known as "MBS," allegedly said he could obtain a "ring from Russia" to carry out the attack, is one of several serious but unproven allegations he made on the CBS show.

“You blew it”: GOP activist turns on corporations over vaccine mandates

The chairman of the American Conservative Union said on "Axios on HBO" he accepts "Joe Biden is my president, and I want him to succeed," but predicted Republicans retake the House and Senate in 2022 — with greater than 50% odds Donald Trump runs in 2024.

The big picture: In a joint interview with his wife, Mercedes, Matt Schlapp also refused to share their vaccination status. And he told corporate America "you blew it" by embracing vaccine mandates and liberal social stances that have alienated GOP voters and politicians.

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