A climate technology investment group that counts Leonardo DiCaprio among its advisers yesterday announced the closing of its first funding round and says it exceeded targets.
Why it matters: Princeville Capital's Climate Technology Fund aims to invest over $300 million over the next four years in companies that will deploy "near-term climate solutions," the announcement states.
Thought bubble: It's a recognition of the need to support companies improving or creating technologies that will yield emissions cuts soon.
- It's a contrast to some other funds, like the Bill Gates-led Breakthrough Energy Ventures, that often focus on longer-horizon startups.
What's next: "The fund will invest in several core climate-focused sectors including smart grid technologies, industrial and building efficiency, precision agriculture, smart cities and technologies that promote climate resilience," the announcement of the fund's closing states.