Prime Impact Fund, a Cambridge, Mass.-based early-stage venture capital firm focused on breakthrough climate technologies, closed its fund with approximately $50m in capital raised.
Family offices, corporations, and foundations such as the Sierra Club Foundation and the David and Lucile Packard Foundation have backed Prime Impact Fund to support high-risk, high-reward climate ventures.
Additionally, the John D. and Catherine T. MacArthur Foundation has joined the fund to be among a select group of major investments that advance the global Catalytic Capital Consortium initiative. Since operationalizing in October 2018, the Fund has made investments in eight climate tech startups: Lilac Solutions; Via Separations; C-Motive Technologies; MicroByre; Verdox; Treau; Sublime Systems; and Clean Crop Technologies.
Led by Matthew Nordan, Managing Director, Amy Duffuor, Principal, and Dr. Johanna Wolfson, Principal, Prime Impact Fund is an initiative of Prime Coalition, a 501(c)(3) nonprofit addressing critical funding gaps for climate solutions.
Prior to the Fund, Prime Coalition developed its unique investment approach through syndication, mobilizing $24 million to fund 10 climate tech startups with large-scale impact potential.