New climate technology venture fund Aera VC has raised $30 million (£2.1m) that will be used to invest in start-up companies that support a sustainable future.
The fund is launching with a portfolio of global climate firms, including Houston-based chemical decarbonisation company Solugen, Singapore’s Shiok Meats, London’s Carbon Chain and Australia’s Fable Foods.
It expects to make up to 30 new seed investments over the next two years and is continuing to accept further investments of up to $100 million (£73.6m) from institutional investors in 2022.
The fund is also launching Aera Force, with around $6 million (£4.4m) earmarked specifically for pre-seed projects that harness the power of blockchain to tackle challenges related to climate and carbon.
Aera VC Founding Partner Derek Handley said: “The entire world needs to be rebuilt and decarbonised.
“At Aera, our long term vision is about investing across the sustainability spectrum, by backing breakthrough technologies that reverse climate change, whether they spawn from blockchain innovations or through scientific discoveries. Every industry needs to be reimagined, from finance, food and fashion, through to chemicals, cement and construction. And we are backing the very best founders hell bent on making this happen.”