VoLo Earth Ventures, an early-stage climate tech-focused venture capital firm, announced it has closed its second fund at $135 million. The firm said that the closing of Fund II marks an increase of 50% over its predecessor fund’s $88 million, despite a challenging environment for venture fundraising, and for climate tech in particular.
VoLo Earth targets investments in capital-efficient solutions across the energy, mobility, building, and industrial sectors that represent major opportunities for resilient, decarbonized systems and repeatable financial performance, with a strategy combining techno-economic analysis with portfolio engagement to accelerate decarbonization, while generating superior returns.
Investments to date from Fund II include geothermal energy technology company XGS Energy, sustainable building materials producer Cambium, and net zero homes-focused robotic tech company Reframe Systems.
Kareem Dabbagh, Co-Founder and Managing Partner at VoLo Earth Ventures, said:
“Fund II reinforces that energy transition investing is driven by superior economics and large market demand for safer, cleaner and more resilient technology. Our companies provide better products and services at lower costs, while creating jobs and strengthening supply chains in ways that reach across the aisle.”
Fund II is anchored by Voloridge Investment Management and supported by major global institutions and family offices.
David Vogel, CEO of Voloridge Investment Management, said:
“In 2021, Voloridge anchored VoLo Earth Ventures to fill a gap identified in the early-stage energy transition market. Our view was that a systematic strategy focused on superior economic returns would unlock a landslide of capital into climate solutions. The firm’s top-decile performance along with a strong Fund II raise provides early validation of that strategy.”
