Congruent Ventures Fund III, is... raised! $275M of capital to continue to invest in early stage entrepreneurs working to solve the climate crisis. The investor (LP) community is moving from landscaping to making financial commitments to climate despite the challenging overall venture landscape. We ended up with over $600M of LP interest in Fund III on our $200M target fund size closing in just five months of (intense...!) fundraising. 3x oversubscription for our fundraise is a far cry from the nearly constant rejection joshua posamentier and I experienced raising Fund I just 6.5 years ago, and the story is one of optimism. While we are a far from getting in front of our climate challenges, institutional investors returning to the sector is a necessary part of the equation. Thank you to CalSTRS, The Grantham Foundation for the Protection of the Environment, UC Regents, The Sobrato Organization, Strategic Investment Group, clients advised by Cambridge Associates, and new investors including Northwestern University and Vintage Investment Partners joining our cause amongst many other unnamed investors! And of course... the team made it happen! joshua posamentier, Jackie Kossmann, Tanuj Dutta, Christina O’Conor, Marianne Wu, Nicholas Adeyi, Eliza Cushman, Abby Steele. And a special shout out to our ops/finance/legal team: Tina Bao, Nadia Dugal and Suzie Morano Parmar, CFA!! You all knocked it out of the park!
Grant Allen
1y
Congrats guys! I remember that pitch 6+ years ago... including a fun lunch with ABB's CTO at the Rosewood putting you all through the wringer.
Congratulations on this remarkable achievement! The journey from Fund I to III is truly inspiring. Abe Yokell's insights have always resonated with me and it's great to see them come to fruition here. The commitment shown by the LP community towards climate change is commendable. Here's to more success and impactful investments!
Ari Matusiak
1y
BOOM. So happy for you, Abe, and for the entire Congruent team. This is very well deserved validation and endorsement of your track record and strategy, and very good news for the planet. Our prospects just got a little bit brighter. Keep doing it!
Great time to come on the CleanTechies Podcast to talk about the future 😉 https://cleantechies.substack.com/
Y'all rock.
Go Abe 👏👏
⚡️ Lori Dunn
1y
Amazing. Congrats Abe and the whole Congruent Ventures team 🎉 The impact you’re making is VAST, eager to see what solutions spark your interest next.
Nicholas A.
1y
Congratulations Abe Yokell, joshua posamentier and the Congruent Ventures team! We are excited to collaborate and support the next wave of entrepreneurs building climate solutions!
Co-Founder & Managing Partner @ Overture Ventures
1yCan you also tag the specific people at the LP instititions you raised from? I want to recognize them individually!