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Global warming is a concern that most companies are now aware of. They are changing their goals to address climate change.
Envisioning PartnersVenture capital firm based in Seoul, ” has secured The company’s most recent impact fund, which was oversubscribed at $64 million (76.8 Billion KRW), has been launched Envisioning Climate Solutions Fund (ECS Fund) to support startups fighting the climate crisis
Envisioning Partners managing partner Hyunjoo Je told TechCrunch that climate has been a major impact domain since the inception.
“We decided to launch a 100% dedicated fund for climate solutions. We don’t have much time to solve the climate crisis and must act quickly. [as we can] to help our society better prepare for the massive transitions ahead,” Je said.
The company stated that the ECS fund is supported by South Korean companies committed to pursuing environmental and social governance (ESG), decarbonization targets, and developing innovative climate solutions for sustainable futures. The VC firm has limited partners such as Hanwha Solutions. IS Dongseo. Yesco Holdings. Hankuk Carbon. Hankuk Carbon. Yellowdog Corp. Korean fashion platform startup Musinsa.
Je stated that TechCrunch Envisioning would like to collaborate more with strategic corporations that view the climate issue from a different perspective in terms of investments.
“Climate solution is more of a concept that encompasses the various fields necessary to reorganize existing business structures from a long-term perspective,” Je told TechCrunch. “Since the proportion of deep tech High, it takes longer for it to reach the market. When It will have a huge impact on society and be so comprehensive when it is introduced. You will need to support. We will expand the scope of capital to support technology commercialization and business growth and increase the level of cooperation between industry investors and experts.”
“We have seen strong growth in venture capital investments in climate tech in the past five years in the U.S. and China. This trend has continued to accelerate over the last 12 months. The close relationships with corporate LPs in our fund will offer a clear advantage,” Je said in a statement.
According to the Global Venture Capital and Private Equity Firms, they invested $87.5 Billion in the climate sector over H2 2020/H1 2021. PwC Report. The report also listed the top five technologies that account for more than 80% of the emission reduction: solar power and wind power, food waste technology green hydrogen production, and alternative foods/low-GHG proteins.
Envisioning Partners has $140 Million in assets under management and is focused exclusively on investing in Series A or Series B. rounds. The ticket size will range from $1 million to $5 million. Venture capital firm expects limited partners to participate. Follow-on investments require co-investors.
Envisioning has been investing in climate technology startups for the past five years in the U.S. and Korea.
The portfolio includes companies such as Novoloop, a California-based startup that specializes in plastic upcycling technology; Circ, a Virginia-based startup in mixed textile recycling technology; Green Li-ion, a Singapore-based cleantech startup Reco, a South Korean platform for food waste technology; and Mission Barns, a California-based food technology company.
Hyunjoo Je, managing partner at Envisioning, and former CEO of Hanwha Asset, are the founders of the venture capital firm. Management.
