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BFD Expert Voices - Climate Deals

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Climate Tech VC newsletter co-founder Sophie Purdom is raising up to $100 million for a climate-focused venture firm, Planeteer Capital, she tells Axios exclusively. 

Why it matters: Purdom has become one of the more visible figures in climate investing through both her newsletter and her angel investments.

Catch up fast: Purdom and Planeteer co-founder Hannah Friedman launched the firm last year. 

The firm filed with the SEC in March, indicating it was raising up to $100 million for its first fund.

Planeteer held a first close the same month, having raised more than a third of the fund's target, people familiar with the fund say.

The latest: Planeteer plans to focus on pre-seed and seed-stage startups as lead and co-lead investor.

Initial checks will span $500,000 to $3 million. 

It's aiming to back 20 to 25 companies in its first fund.

Zoom in: LPs are institutional investors, family offices, venture funds and individuals.

They include Collaborative Fund, an undisclosed Ivy League endowment, and Mike Schroepfer, the former Meta CTO who founded climate venture fund Gigascale Capital.

What's next: Target sectors include carbon management, industrial decarbonization, the built environment, climate intelligence and insurance, and sustainable agricultural supply chains. 

It's so far invested in one portfolio company — a "hardware-enabled software business" — across multiple rounds, Purdom tells Axios.

Of note: Friedman was previously an investment associate at Closed Loop Partners.

Purdom is on the board of Climate Tech VC, which recently completed a $1.75 million pre-seed round. Planeteer did not participate, she says.

Exclusive: CTVC founder Sophie Purdom launches venture firm Planeteer

She and co-founder Hannah Friedman plan to raise $100 million.

A side-by-side photo of Planeteer co-founders Hannah Friedman and Sophie Purdom.

Sophie Purdom, right, and Hannah Friedman. Photos courtesy of Planeteer

Climate tech

Climate Tech VC newsletter co-founder Sophie Purdom is raising up to $100 million for a climate-focused venture firm, Planeteer Capital, she tells Axios exclusively. Why it matters: Purdom has become one of the more visible figures in climate investing through both her newsletter and her angel investments.

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Exclusive: CTVC founder Sophie Purdom launches venture firm Planeteer

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