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Illuminem summarizes for you the essential news of the day. Read the full piece on The Cool Down or enjoy below:
🗞️ Driving the news: WovenEarth Ventures, a new women-led climate tech venture based in Palo Alto, has successfully closed its first fund at $152 million, aiming to invest in early-stage climate tech startups
• These startups focus on innovative solutions to tackle atmospheric pollution and combat the effects of global warming and extreme weather condition
🔭 The context: Founded by Jane Woodward, alongside Mauricia Geissler and Denise Miller, WovenEarth Ventures seeks to facilitate investments into the emerging field of U.S. early-stage climate technology
• The venture addresses the challenge of entering this dynamic and technically complex sector by offering investors a "carefully crafted" portfolio of promising startups, aiming for significant environmental impact and returns
🌍 Why it matters for the planet: WovenEarth's approach allows broader participation in climate tech investment, potentially accelerating the development and deployment of crucial technologies for reducing carbon pollution and addressing issues like water and wildlife conservation
• This could play a vital role in advancing global efforts to mitigate climate change and promote sustainability
⏭️ What's next: WovenEarth plans not only to continue investing in climate tech ventures through selected venture capital fund managers but also to organize workshops to engage everyday investors with the sector
• This educational component aims to deepen understanding and involvement in the fight against climate change, empowering more individuals to contribute to a carbon-free future
💬 One quote: "The fundamental thesis of WovenEarth Ventures is that we're building a bridge, that's a risk-adjusted product, that in one investment, you get exposure to three or 400 companies, instead of 20 to 30," - Jane Woodward, Founder of WovenEarth Ventures.
📈 One stat: $152 million - The amount raised by WovenEarth Ventures for its first fund dedicated to early-stage climate tech startups.
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