VC Upstart Raises $100 Million to Target Problems Like Climate

A new venture capital fund targeting climate change and other “big fundamental problems” has raised $100 million, according to people familiar with the matter.

The new firm, called 9900 Capital, is managed by former investors at the Bill and Melinda Gates Foundation and the London-based investment firm Hedosophia, according to the people, who asked not to be identified discussing private information.

Rory Mounsey-Heysham, formerly of the Gates Foundation, is a managing partner at 9900, according to his LinkedIn profile, as is Chris Corbishley, formerly of Hedosophia. The London-based 9900 launched earlier this year, according to the men’s profiles.

The new fund will aim to tackle large ...