Early stage investor Vectr7 Investment Partners is raising a $25m (£19.7m) climate tech fund focused on delivering solutions across the real assets sector.
The fund, headed by PiLabs co-founders Dominic Wilson and Mary Criebardis Singh, has already secured a “significant portion” of its $25m target.
It will focus on companies across Europe with a specific emphasis on greenhouse gas capture or avoidance in the real assets industries, including real estate, infrastructure, transport and utilities.
“Our vision is to provide early-stage companies with the strategic and operational support needed to build scalable, global companies that will have a lasting impact,” said Criebardis Singh. “Vectr7 is committed to redefining how the real assets industries use the latest technological advances to address their energy use, embodied carbon and overall emission levels in terms of methane, CO2 and nitrous oxide.”
Cem Savas, chief executive and co-founder of Plentific, one of more than 50 firms Wilson and Criebardis Singh have invested in over their careers, is one of the investors in the new fund.
“Dom and Mary led Pi Labs’ investment into Plentific and I got to see up close how they approach companies, founders and due diligence,” said Savas.
“They have been supportive ever since and I am thrilled to invest in their present fund, particularly given their commitment to GHG emissions reduction. From a Plentific client perspective, we know first-hand how urgent this is for the industry.”
The new fund is targeting cheque sizes of $1m to $3m and will look to invest in around 15 ventures. It has already backed three companies: machine learning powered smart sockets company measurable.energy, hybrid-work management software company Kadence, and local office space and events company Patch.
Measureable.energy chief executive and co-founder Dan Williams said: “It was very clear from the earliest discussions that Vectr7 was committed to having a positive impact on the environment. That they shared our passion for achieving a significant reduction in carbon emissions within the real estate industry was absolutely key for us.”
He added: “Since investing, Dom and Mary have been integral to our company’s development. They are always available, offering invaluable strategic advice and support throughout the scaling process.
This Europe-based fund is the third investment vehicle worked on by Vectr7 founders Wilson and Criebardis Singh. The pair have been investing together for almost a decade in companies including LandTech, Plentific, Built-ID and Office App.
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