Key Takeaways:
- WovenEarth Ventures successfully closed its first fund, WovenEarth Fund I, at $152 million on January 31st, reaching its hard cap.
- The fund aims to provide attractive, risk-adjusted returns by investing in US early-stage climate tech ventures.
- Founded by Jane Woodward and supported by a team of experienced partners and advisors, the fund focuses on breaking down investment barriers in the climate tech sector.
- Institutional partners include prominent university endowments and foundations, with Big Path Capital assisting fundraising.
- WovenEarth Fund, I has already invested in 13 US-based climate tech venture fund managers, targeting decarbonization and specific climate tech sub-sectors.
Breaking Down Barriers to Climate Tech Investment
WovenEarth Ventures, a pioneering investment firm focused on early-stage climate technology in the United States, announced the final close of its debut fund, WovenEarth Fund I, at $152 million on January 31st. The fund, which has hit its hard cap, is designed to offer investors a highly diversified exposure to the climate tech sector through a focused and carefully crafted fund of funds boasting differentiated access.
The initiative seeks to dismantle the traditional barriers many investors face when entering the dynamic and technically complex US early-stage climate tech landscape. By leveraging the extensive experience of its founder, Jane Woodward, and her team, WovenEarth is positioned to build portfolios that manage early-stage risk effectively within the energy industry.
A Strong Foundation Backed by Industry Veterans
Jane Woodward, the founder of WovenEarth Ventures, is joined by co-founder Mauricia Geissler, the former chief investment officer of Amherst College, and Denise Miller, an energy transition strategist. Together with a team of four additional members and expert senior advisors, they bring decades of experience to the fund’s investment strategy.
WovenEarth’s institutional partners reflect the fund’s strong backing, including endowments from Boston University, Northwestern University, The Pennsylvania State University, and support from Glenmede, Mortenson Family Foundation, and M.A. Mortenson Companies. Big Path Capital bolstered the fundraising effort.
Focused Investment Strategy
Since its inception in 2022, WovenEarth Fund I has invested in 13 US-based early-stage climate tech venture fund managers. These managers are generalists focusing on decarbonization and specialists in climate tech sub-sectors such as wildfire, water, agriculture, and digital solutions. The fund is primarily committed to underlying funds, aiming to provide exposure to over 300 underlying portfolio companies and, on occasion, directly co-invest in companies with unique access.
Education is a central pillar of WovenEarth’s strategy, with Jane Woodward leveraging her 30-year tenure as an educator at Stanford to enrich investor knowledge. Through curated quarterly workshops, investors gain insights directly from venture managers and select portfolio companies within WovenEarth’s portfolio.
