Al Gore's Generation launches $1.7B fund

Generation Investment Management, the sustainability VC firm chaired by former Vice President Al Gore, is launching a $1.7 billion sustainability fund.

Why it matters: The fund is targeting not only climate startups but businesses focused on health as well. That explicit recognition of the overlap between the environment and health is not often a centerpiece of climate-oriented venture funds.

The details: The growth equity "Sustainable Solutions Fund IV" will invest $50-$150 million as an active minority investor, Generation says.

• It will particularly target "high-growth companies that are shifting industries toward sustainability and responsible innovation at scale."
• In addition to climate and health, the fund will also focus on financial inclusion.
• A prior Generation investment: $30 million for recycled paper-towel empire Seventh Generation.