Alexander Rozenfeld, formerly president of Shell Technology Ventures, the corporate venturing arm of oil and gas company Shell, has formed his own venture capital firm, Xconomy has reported.
The firm, named Climate Impact Capital (CIC), plans to make between six and eight investments over its first two years of operations. It will target early-stage companies developing disruptive technology that could help mitigate or adapt for climate change.
Rozenfeld aims to raise $30m for CIC’s first fund and could harness the help of a strategic corporate investor as well as large-sized foundations and family offices.
The firm aims to act as a long-term investor, Rozenfeld told Xconomy, remaining as a shareholder in its portfolio companies through the IPO stage in order to keep pressuring them to develop important products.
“I have seen the negative consequences of energy development in developing countries,” Rozenfeld said. “I have an appreciation for the scale of the problems and the need for solutions.”
– Photo of Alexander Rozenfeld courtesy of Climate Impact Capital