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Investment manager Wellington Management announce today the final close of the Wellington Climate Innovation Fund, […]]
Wellington Management Raises $385 Million for Climate Tech Venture Fund – ESG Today
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Wellington Management Raises $385 Million for Climate Tech Venture Fund
Mark Segal
April 18, 2024
Investment manager Wellington Management announce today the final close of the Wellington Climate Innovation Fund, raising $385 million in commitments for the firm’s inaugural climate solutions-focused venture fund.
Wellington’s Climate Innovation Fund invests in private companies developing solutions to help mitigate and adapt to climate change, targeting primarily late-venture and early-growth companies developing tech-enabled solutions, in areas ranging from software, sensors and AI, to data and analytics, and across themes including energy transition, sustainable buildings and cities, transportation and mobility, industrial automation, enterprise digitization, sustainable consumer, and food and agriculture innovation.
The fund is managed by Wellington’s Head of Private Climate Investing, Greg Wasserman. Investors in the Climate Innovation Fund include sovereign wealth funds, pensions, insurance companies, banks, family offices and high-net-worth individuals.
Wasserman said:
“Climate change is an existential threat to society and touches every sector of the global economy, making it one of the largest and most necessary investment opportunities we will see in our lifetimes. For many years, climate solutions required trade-offs, but recent improvements and cost declines in technology around software, hardware, analytics, and connectivity mean today’s solutions are delivering meaningful cost savings and superior user experiences for businesses and consumers.”
Mark founded ESG Today following a 20 year career in investment management and research. Prior to founding ESG Today, Mark worked at Delaney Capital Management (DCM) in Toronto, Canada, most recently as the firm’s head of U.S. equities. While at DCM, Mark was part of the firm’s ESG team, responsible for evaluating and tracking the sustainability factors impacting portfolio companies, and assessing the suitability of companies for portfolio inclusion. Mark also spent several years in the sell-side research industry, covering the technology and services sectors. Mark holds an MBA from Columbia University in New York, a BBA from the Schulich School of Business at York University in Toronto, and is a CFA charterholder.
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