Active Impact Investments Raises $110M to Back Climate Tech Startups
Immigration-friendly programmes like the Tech Talent Strategy are helping Canada attract skilled talent.
The proceeds will be used to scale the technologies of early-stage climate tech companies.
Canada's largest climate tech seed fund, Active Impact Investments, has raised an additional CAD 110 million for its third fund.
The new fund, Fund III, is larger than its previous ones and shows sheer investor morale in its ideals and approach to climate investments.
For the present, the venture capital firm has over $180 million in total assets under management. Its object is to invest in early-stage climate startups that reduce carbon emissions and create scalable, clean technologies.
READ MORE: Climate Technology: The Path to Net Zero and Sustainability
The fund has invested in 7 companies: 4 Canadian and 3 U.S. startups. These startups focus on climate solutions such as heating, clean transportation, and artificial intelligence for climate impact. It is also planning on investing in 18 more.
Investors in Fund III include Northleaf Capital Partners, Fondaction, Boann, Deloitte Ventures, the Co-operators’ venture fund, and InBC.
Mike Winterfield, Founder and Managing Partner, Active Impact Investments, said: "Thanks to our amazing investors, we get the privilege to support 25 more insanely talented founders so they can build the future of climate. There is a massive difference between the divisive rhetoric from both sides on climate and the reality that exists in the middle."
Canada is turning into a hub for climate tech startups due to several factors, including public support, government policies (like IRAP and SR&ED), among others. It recently ranked second on the 2024 Global Cleantech 100 list, despite having a small population.
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Source: Active Impact Investments
