US-based climate accelerator Elemental Excelerator has spun out a fund called Earthshot Ventures, which has reached a first close with $60m in commitments from limited partners including software producer Microsoft.
Other limited partners for the fund include Emerson Collective, McKinley Alaska, Employees’ Retirement System of Hawaii, Stafford Capital Partners, Impact Engine and private investors John Doerr, Tom Steyer, David Crane and Chris Cox.
Earthshot will invest in both hardware and software developers in sectors including energy, mobility, industry, carbon, food and agriculture, focusing on seed through series B rounds. It aims to give companies access to a network of investors, customers and policymakers.
The fund is also partnering clean technology accelerator Launch Alaska to access the latter’s customer networks.
Mike Jackson, managing partner of Earthshot Ventures, said: “Earthshot is unique because of our team’s deep experience working alongside ventures as they are deploying technology. We have a strong sense of what has commercial traction and the ability to make rapid impact.
“This enables us to invest in both hardware and software companies at the early stages, and supercharge their efforts by plugging into our global network of customers, investors and policymakers.”
