Decarbonization-focused investment firm Galvanize announced today that its co-founder, hedge fund billionaire and former presidential candidate Tom Steyer, has taken a formal leave of absence from his role as Co-Chair. Following the announcement, Steyer revealed that he will be running for Governor of California.
Galvanize was launched in 2022 Steyer and Hall Capital Partners founder Katie Hall, as a mission-driven investment platform to provide capital, expertise and partnerships necessary to produce and scale urgent climate solutions.
The firm invests across asset classes including real estate, private credit, venture and growth capital, and public equities to accelerate commercially competitive technology and solutions, with a focus on delivering compelling returns through deep specialization in energy and the business of decarbonization.
In 2023, Galvanize announced that it had raised over $1 billion for its first venture and growth equity fund, and recently the firm launched a new Credit and Capital Solutions strategy, aimed at providing flexible financing solutions to back companies and projects across the energy transition value chain, and established with a $1.3 billion investment program from a leading institutional investor. Galvanize also operates a global equities strategy, investing in businesses positioned to lead and benefit from the climate transition, and Galvanize Real Estate, a platform aimed at investing in real estate to reduce the carbon footprint of properties, improve cash flow and increase asset values.
Galvanize said:
“Built for the long term, Galvanize continues its growth trajectory led by CEO and Co-Chair Katie Hall, alongside Co-Chair Sec. John Kerry and a seasoned leadership team across its platform and investment strategies. Together, these leaders bring decades of investment and operating expertise across asset classes and sectors.”
The firm added that Steyer remains a significant investor in Galvanize and its strategies.
