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Expert voices: Tim Chiang of Xerox-backed Myriad on collaboration

Tim Chiang, co-founder and partner of Myriad Venture Partners

Photo illustration: Gabriella Turrisi/Axios. Photo: Courtesy of Myriad Venture Partners

It takes a village for a climate tech startup to succeed, says Tim Chiang, co-founder and partner of Myriad Venture Partners.

Why it matters: The firm counts Xerox as the anchor investor in its first fund, as well as co-founders who formerly led Xerox's tech investing efforts.

  • Myriad has already invested $25 million from the fund which had a first close of $100 million earlier this year.
  • The firm invests in seed and Series A startups across both climate tech and AI and has backed companies including 3D metal printing company Seurat and next-gen commercial air conditioning company Mojave.
  • Chiang says Myriad plans to continue pursuing investments in advanced manufacturing and critical supply chain solutions, among other sectors.

This interview was lightly edited for clarity.

What in your view has been the biggest news in climate tech investing this year?

  • "Climate technologies continue to be funded robustly in the midst of a macro compression, which is very encouraging to see."

What would you add to the narrative?

  • "I suspect that we'll see more solutions that are complementary to existing workflows, existing business processes, existing infrastructure.
  • Some might call them more incremental solutions. I don't necessarily think that's a fair characterization. I think they're pretty impactful and very groundbreaking for a lot of industries."

By contrast, what's going undernoticed?

  • "There's an entire class of battery chemistries that are rapidly gaining market share that are not recyclable.
  • Lithium iron phosphate batteries, you see them in some of the lower end EVs, right now cannot be recycled economically with existing technologies. That's a massive, overlooked issue."

One tip for climate-tech investors or founders:

  • "It takes a village. It is more than just capital needed to bring success to these companies."

Three fun things:

💼 First job:

  • "Working on a plastics manufacturing plant down on the Gulf Coast of Texas."

👑 Proudest investment:

  • "I love them all but one to highlight is Seurat, which recently raised a $99 million round led by Capricorn and Nvidia.
  • They're a big bright spot in a generally down market for additive manufacturing."

🤦🏻 Facepalm investment or investment you wish you made:

  • "A few years ago I passed on an angel investment in a lithium extraction startup that went on to raise over $300m."

💡 In three-ish words, the change you would make to climate-tech investing:

  • "More radical collaboration."
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