Venture Firm Raises $275 Million to Support Climate Tech

Venture capital firm Congruent Ventures raised $275 million from investors including California State Teachers’ Retirement System to support early-stage companies developing innovative decarbonization technologies.

Other investors in Congruent’s third flagship fund include Grantham Foundation and the University of California, the San Francisco-based company said in a statement Thursday.

The funding brings Congruent’s total assets under management to more than $1 billion and shows investors’ appetite for early-stage startups. It comes as equity markets are facing headwinds, notably the S&P Global Clean Energy Index’s $30 billion rout in the six months through November 27. Potential cleantech investors may be drawn ...