is in some areas Like climate technology, there has been a boom over the years. But despite rapidly rising interest and investments, the ongoing market downturn is threatening to curtail the prospects of many bright startups.
But are climate tech VCs as depressed as the rest?
Three investors active in the space joined me onstage at TC Sessions: Climate 2022 at Berkeley this week to share why they’re in it for the long haul, the problems they want to tackle, and how they find startups. make an impact.
After the shutdown of clean technology a decade ago, and given the current recession, there are concerns that climate technology may be doomed to repeat the mistakes of the past. Christian Garciaa fellow Breakthrough Energy EnterprisesSaid that there could be some casualties, but overall it will not happen. Climate tech, unlike clean tech, they think, is here to stay.
“Everyone is eyeing it, that this is the change that has to happen in our economy, and therefore, our investments in this sector must exist to be a big part of the economy of the future.” Pae Wu, General Partner at SOSV and IndieBio . the CTO
“There’s a slight difference, which I agree — the opportunity is huge, right? We rebranded it because it’s decarbonizing everything. I think it exists, and regardless of what Nasdaq is doing That opportunity exists.” Garcia said.
Garcia and Wu were joined by kirsten steedmanaging partner DCVC Bio, While all of these firms have a broad portfolio of investments, they share a similar approach to the vetting process. This is partly because many of their investments are focused on deep-tech, challenging and time-consuming technologies that have the potential to make the biggest impact on the climate.