G2 Venture Partners Announces $750M Fundraise for Climate Tech Investments
Palo Alto, CA – G2 Venture Partners, the prominent sustainability-focused VC firm spun out of Kleiner Perkins, has begun raising capital for its third fund with a $750 million target, according to SEC filings reviewed by TechCrunch.
A Bold Bet on Climate Innovation
The new fund represents a 50% increase over G2VP’s $500 million second fund closed in 2021, signaling strong conviction in climate tech opportunities despite political uncertainties surrounding the incoming administration.
Key highlights of the raise:
- Targets $750 million for Fund III
- Represents significant growth from previous $500M fund
- Focuses on startups decoupling economic growth from environmental impact
Portfolio Spotlight: Disruptive Sustainability Startups
G2VP has built an impressive portfolio of climate and sustainability innovators:
- Arcadia: Renewable energy data platform
- 1Komma5: Home electrification installation network
- Crusoe Energy: AI data center developer (recently raised $600M)
Institutional Backing and Market Position
The firm counts major strategic investors among its limited partners, including:
- Daimler
- Mitsui
- Shell Ventures
- The McKnight Foundation
This latest fundraise positions G2VP among the most active climate tech investors as the sector continues to attract significant capital despite macroeconomic headwinds. The firm declined to comment on the fundraising when contacted by TechCrunch.
For more details, see the SEC filing.
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