A $239 Million Climate Tech Fund Launches for Carbon Startups

Prime Coalition and Azolla Ventures have rolled out a $239 million fund to invest in early-stage startups that are unlikely to lure traditional investors for their climate technology solutions.

The new fund will look at three factors as part of its investment criteria — impact, lack of alternative funding options and commercial potential of the climate solution, according to a statement Thursday.

The Cambridge, Massachusetts-based nonprofit Prime Coalition and investing firm Azolla will look for startups with the potential to reduce or remove at least half a gigaton of CO2-equivalent emissions by 2050. While being overlooked by mainstream investors, these ...