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Bay Bridge Ventures Seeks $200M Climate Funding

Bay Bridge Ventures formally submitted documentation on Monday to launch their new climate funding
April 16, 2024

In a bold move reflecting the escalating investor enthusiasm for climate-focused initiatives, Bay Bridge Ventures is on the brink of launching a new $200 million fund. This venture underscores the surging optimism surrounding climate tech, even amidst broader market fluctuations.

The recent filing of paperwork with the U.S. Securities and Exchange Commission by Bay Bridge signals its strategic commitment to bolstering climate innovation. This initiative arrives amid a notable surge in venture capitalists' confidence in climate tech, evident in the substantial funds raised by various firms. SOSV, for instance, disclosed a $306 million deep tech fund with a significant 70% allocation toward climate endeavors. Similarly, New Summit Investments is poised to raise a $100 million impact fund, while Congruent Ventures successfully secured $275 million in 2023, turning down a staggering $325 million in additional LP interest.

While these figures might spotlight established players, Bay Bridge Ventures emerges as a newcomer, establishing its foothold in 2022 with a broader focus on Environmental, Social, and Governance (ESG) initiatives, with a particular emphasis on sustainability. Although records indicate Bay Bridge's involvement in a $10 million funding round for SailPlan in 2022, its portfolio appears relatively sparse, hinting at a fresh entry into the investment landscape.

However, Bay Bridge's core team brings a wealth of experience to the table. Spearheaded by General Partner Andrew Karsh, a former figure at pension fund CalPERS, the team includes seasoned professionals Joe Blair and Kim Kolt. Blair's tenure at Cota Capital and Obvious Ventures, coupled with Kolt's background at Goldman Sachs and Deutsche Bank, underscores the team's robust expertise.

Despite Bay Bridge's reticence to comment, their past investment ventures showcase a diverse array of interests, ranging from sustainable footwear with Allbirds to pioneering space exploration with Astra, indicating a dynamic investment strategy poised for further expansion.

In a landscape increasingly shaped by climate imperatives, Bay Bridge Ventures' bold foray into the $200 million climate fund arena signifies a pivotal moment. With seasoned leadership and a diverse portfolio, Bay Bridge Ventures is poised to catalyze transformative change in the climate tech sphere, adding a fresh perspective to the evolving investment landscape.

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