Climate Insider Brief:
- Cerulean Ventures has launched its first $10 million pre-seed fund during Climate Week NYC 2024, focusing on funding innovative software solutions aimed at addressing key climate challenges.
- Founded with support from One Small Planet, Regen Foundation, and Regen Network, the firm is led by experienced General Partners Matthew Stotts and Jahed Momand, who aim to bridge technology and environmental solutions.
- The fund targets four main areas: Carbon, Energy, Sustainable Supply Chains, and Climate FinTech. Notable portfolio companies include Earthbanc, Jasmine Energy, CommonShare, and Regen Network, each making strides in their respective sectors to promote sustainability and environmental compliance.
Cerulean Ventures, a forward-thinking venture capital firm in the climate tech sector, has successfully closed its inaugural $10 million pre-seed fund. This significant milestone, announced during Climate Week NYC 2024, positions Cerulean Ventures at the forefront of funding innovative software solutions aimed at tackling some of the most pressing challenges in climate tech, including biodiversity, natural capital, nature-based carbon, renewable energy, and sustainable supply chains.
Bridging Technology and Climate Solutions
Founded with the backing of its anchor investor, One Small Planet, along with strategic partners Regen Foundation and Regen Network, Cerulean Ventures aims to support highly scalable software solutions that address complex environmental issues. Jack Wielebinski, Chief Investment Officer of One Small Planet, highlighted the firm’s mission: “As tech founders themselves, Jahed and Matthew have the unique experience of bridging complex technology to massive markets. We are proud to support Cerulean’s thesis to invest in software businesses that connect the global economy for nature-positive outcomes.”
The General Partners
Matthew Stotts and Jahed Momand, the General Partners of Cerulean Ventures, bring a wealth of experience to the firm. Stotts, formerly a founder of a top technology marketing consultancy in Silicon Valley, and Momand, who co-founded a developer operations SaaS company, have both held pivotal roles in leading enterprise software firms. Their collaboration on projects related to sustainable finance and regenerative agriculture through the Regen Network laid the groundwork for their investment strategy, which began in 2022.
Focus Areas and Portfolio Highlights
Cerulean Ventures’ Fund I is centered on four key areas: Carbon, Energy, Sustainable Supply Chains, and Climate FinTech. This strategic focus aims to foster innovations that can effectively scale and make significant impacts in their respective fields.
- Earthbanc: Leading the charge in carbon markets, Earthbanc has developed the first vertically integrated, full-stack, nature-based carbon removal company. Collaborating with multinationals like AstraZeneca, Earthbanc utilizes proprietary machine learning and MRV software to facilitate scalable carbon removal through regenerative agroforestry. CEO Tom Duncan emphasized the transformative potential of their platform: “Our vision is enabling regenerative agriculture and carbon removal across 2.5 billion hectares of degraded lands.”
- Jasmine Energy: This company is digitizing the U.S. market for renewable energy credits, aiming to create a globally tradeable market that promotes renewable energy investment. Co-founder Nathalie Capati noted, “Cerulean was one of the first believers in our vision of a globally-coordinated renewable energy market.”
- CommonShare: By leveraging AI, CommonShare enhances sustainable procurement across supply chains, promoting transparency and collaboration among brands and suppliers. Their partnership with Bureau Veritas exemplifies their commitment to environmental compliance and sustainability. Founder Martin Smith remarked on Cerulean’s supportive role, stating, “Their founder-focused perspective was exactly what we were looking for in a pre-seed partner.”
- Regen Network: Focused on equitably balancing land use with community needs, Regen Network employs blockchain technology to finance biodiversity protection and resource stewardship. CEO Gregory Landua praised the contributions of Cerulean’s founders, who were instrumental in developing the network’s foundational principles.
Conclusion
Cerulean Ventures is poised to make a substantial impact on the climate tech landscape with its newly closed Fund I. By investing in innovative software solutions that address critical environmental challenges, Cerulean is not only supporting promising startups but also driving the transition toward a more sustainable and equitable future.
Climate Insider Notes:
- Cerulean Ventures closed a $10 million pre-seed fund during Climate Week NYC 2024.
- The fund focuses on scalable software solutions for biodiversity, natural capital, and climate-positive business practices.
- Key portfolio companies include Earthbanc, Jasmine Energy, CommonShare, and Regen Network, each targeting distinct areas within climate tech.
- The firm emphasizes close collaboration with founders to drive growth and impact in the climate finance sector.
For more information, visit Cerulean Ventures.
Featured Image: Credit: Cerulean Ventures
