Systemiq secures $70 million to fund early-stage climate tech founders – Nob6

Systemiq Capital, a backer of early-stage local weather tech startups, says it has secured $70 million to kick off its second fund.

The London-based VC goals to lift as a lot as $130 million extra; that will mark fairly a step up for the agency, which says it has funneled $30 million into 19 startups since 2018.

So far as placing that cash to make use of, Systemiq says it’s out to fund founders who’re centered on making massive industries and cities “extra environment friendly and sustainable.” In apply, it’ll fund key areas like regenerative land use, oceans, transportation and the round financial system.

Systemiq’s previous offers embrace local weather information firm Jupiter, transport information agency Nautilus Labs (whose cofounder later launched Bedrock) and ESG-focused investing startup OpenInvest.  Final yr, OpenInvest sold to J.P. Morgan, the world’s top funder of fossil fuels

Systemiq was cofounded by McKinsey veterans Jeremy Oppenheim and Martin Stuchtey. The consulting big, which pulls in an estimated $10 billion a year in income, additionally has a prolonged historical past of labor with many of the world’s top polluters.

Systemiq accomplice and former Goldman govt Irena Spazzapan will steer the second fund, together with Oppenheim and former Unilever CEO Paul Polman, the agency stated.

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