June 22, 2020
$50 Million Prime Impact Fund Launches to Invest in Early-Stage Cleantech
The fund screens startups for gigaton-level carbon-reduction potential. A new fund is channeling philanthropic dollars into early-stage clean technology investments in the hopes of catalyzing major climate-change impacts. The Prime Impact Fund closed a $50 million raise in recent weeks and has already made eight investments. The fund uses an unusual structure: It screens prospective investments for their carbon-reduction potential in order to direct investment to high-impact technology companies that might struggle to find funding through conventional means.