ESG in VC Insights
Hello ESG in VC followers,
Welcome to the 10th edition of ESG in VC Insights. Curated with 🖤 every month by the ESG in VC team.
ESG in the News
As the use of artificial intelligence rises, with the technology expected to increase global GDP by $15.7 trillion by 2030, the World Economic Forum discusses the need for companies and regulators to adopt and enforce “Responsible AI”
Following the fall of Silicon Valley Bank, The ESG Advocate examines whether weak governance was to blame for the bank’s failure
According to Malk Partners’ “The State of ESG: 2022” report, growth equity, venture capital, and private credit investors lag private equity investors in the implementation of several key ESG practices
The UN’s Intergovernmental Panel on Climate Change (IPCC), the world’s most authoritative scientific body on climate change, releases its 6th Assessment Report highlighting the implications and dangers of the world’s current climate trajectory
In its recent research piece, Pitchbook reports on how startups are using captured carbon as a feedstock for an increasingly wide range of products including chemicals, fuels, and construction materials
ESG Spotlight: Does ESG Need a Rebrand?
With the ongoing debate on #wokecapitalism, does ESG have a brand image problem? We asked our ESG in VC LinkedIn followers and the results were stark….
Polling completed by Climate Power and Data for Progress suggests that “Responsible Investing” would be more favourably viewed and accepted than “ESG”
Alex Edman’s recent research argues that "... ESG doesn't need a specialized term, as that implies it's niche—considering long-term factors isn't ESG investing; it's investing”
The Regulatory Report
In Washington, President Biden for the first time vetoes a bill to stop a proposed Anti-ESG measure backed by Republicans
The UK’s Financial Conduct Authority warns index funds of the poor quality of their ESG disclosures and reaffirms its view that ESG rating providers should be formally regulated; Likewise, see here for the HM Treasury’s recent consultation paper outlining proposals for the potential scope of such a regulatory regime
ETF provider, MSCI, is set to remove ESG ratings from hundreds of its fund amid a push by index providers to use stricter criteria for what qualifies as an ESG fund among pressure from regulators and concerns over greenwashing
Noteworthy Raises in E
🌍Europe
Blockchain and ClimateTech startup, Carbonable, a Grenoble, France-based startup using Ethereum blockchain to improve transparency in the voluntary carbon market, raises $1.2 million of Seed funding led by Groupe La Poste and Ethereal Ventures
SDGs - 13
Clean energy startup, Lithium de France, a Bischwiller, France-based developer of geothermal heat and lithium projects for sustainable heat production, raises EUR 44 million of Series B funding from Equinor Ventures, Arverne Group and Norsk Hydro
MobilityTech startup, Chargetrip, an Amsterdam-based developer of an API-based smart EV routing platform, raises EUR 10 million of Series A funding led by HSBC Venture & Growth Investments
Energy management startup, Piclo, a London-based platform aiming to make electricity grids efficient, reliable, and sustainable, raises £8.3 million of Series B funding co-led by Future Energy Ventures and Clean Growth Fund
Marine tech startup, D-ICE Engineering, a Nantes, France-based developer of hydrodynamics, advanced control systems, and AI technologies for maritime applications, raises EUR 1.5 million of venture funding from Pays de la Loire and Atlantique Vendée Innovation
🌎North America
Biofuel startup, Viridos, a La Jolla, California-based developer of low-carbon, algae-based jet and diesel fuel, raises $25 million of venture funding led by Breakthrough Energy Ventures
Clean energy startup, Amogy, a New York City-based provider of emission-free, energy-dense ammonia power solutions, raises $139 million of SeriesB1 funding led by SK Innovation
Clean energy startup, ARC Clean Technology, a Washington DC-based developer of small modulars producing economical, carbon-free power, raises $1.4 million of venture funding from undisclosed investors
🌏 Asia & Australia
AgTech startup, WayBeyond, an Auckland, New Zealand-based developer of crop management software to support yield prediction, crop registration, and greenhouse monitoring, raises an undisclosed amount of venture funding from BASF Venture Capital
ClimateTech startup, Zeroboard, a Tokyo-based emissions measurement and management platform, raises JPY 2.5 billion of Series A funding led by Keyrock Capital Management
Noteworthy Raises in S
🌍 Europe
Digital health startup, Aera Health, a Basel, Switzerland-based developer of data-driven health plans with a focus on preventative care, raises EUR 4 million of seed funding from Evoleen, Korify Capital, and Jeffrey Wilke
SDGs - 3
EdTech startup, We Are Digital, a Coventry, England-based digital platform helping connect those in need with welfare services, raises £6.6 million of Series A funding from Ascension, Triple Point, and Impact Partners
🌎North America
HealthTech startup, Proxim Diagnostics, a Santa Clara, California-based developer of handheld diagnostic devices capable of running laboratory-standard tests, raises $18 million of Series D venture funding led by BioMérieux
SDGs - 3
HealthTech startup, Unlearn, a San Francisco, California-based machine learning platform that creates “digital twin” profiles of patients in clinical trials, raises $15 million of venture funding from Radical Ventures
SDGs - 3
E-commerce startup, Powered by People, a Toronto, Canada-based platform connecting European and North American consumers with ethically, and sustainably sourced handmade products from low-income countries, raises $8 million of Series A funding led by Altos Ventures
Professional network startup, Profound, a Devon, Pennsylvania-based platform aiming to improve disability inclusion and accessibility, raises $470k of angel funding
🌏 Asia, Middle East & Australia
EdTech startup, Maqsad, a Pakistan-based e-learning platform making education more accessible to Pakistani students, raises $2.8 million of seed funding led by Speedinvest
SDGs - 4
Digital health startup, Mindset Health, a Melbourne, Australia-based digital hypnotherapy platform for IBS, menopause, and smoking cessation, raises AUD 17.8 million of Series A venture funding led by King River Capital
SDGs - 3
EdTech startup, Almentor, a Dubai-based Arabic online video learning platform, raises $10 million of pre-Series C funding led by e& Capital
SDGs - 4
HealthTech startup, Gynoveda, a Mumbai, India-based period health platform, raises $10 million of Series A funding led by India Alternatives Investment Advisors
Noteworthy Raises in G
HRTech startup, RiseKit, a Chicago, Illinois-based inclusive recruiting platform, raises $4.75 million of venture funding from Verte Opportunity, Stand Together Ventures Lab and Mudita Venture Partners
SDGs - 8
Latest Fund Announcements
New York-based venture capital firm, Gutter Capital, has raised $25 million for its inaugural fund to invest in businesses that will improve access to health, education, and housing and build a more sustainable world
Paris-based SWEN Capital Partners closes its Blue Ocean fund to invest in the regeneration of ocean health at EUR 170 million, 50 million ahead of its target
Maryland-based New Markets Venture Partners raises over $160 million for its oversubscribed Economic Mobility Fund to invest in early- and growth-stage companies with demonstrated efficacy in improving student and workforce outcomes
Madrid-based, private debt manager, Aptimus is seeking to raise EUR 500 million for two nationally-focused impact vehicles
ESG in VC Podcast
A new episode with Eric Rubenstein from New Climate Ventures will be released withing the next few days, so please follow us and tune in if you want to dive into the world of ESG further