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Exclusive: CTVC founder Sophie Purdom launches venture firm Planeteer

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 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.

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.
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