TLDR:
- Wellington Management raised $385 million for their inaugural climate solutions-focused venture fund.
- The fund invests in private companies developing tech-enabled solutions to mitigate and adapt to climate change.
Investment manager Wellington Management has announced the final close of the Wellington Climate Innovation Fund, raising $385 million in commitments for their inaugural climate solutions-focused venture fund. The fund targets late-venture and early-growth companies developing tech-enabled solutions in areas such as software, sensors, AI, data analytics, energy transition, sustainable buildings, transportation and mobility, industrial automation, enterprise digitization, sustainable consumer, and food and agriculture innovation. Managed by Greg Wasserman, the fund has received investments from sovereign wealth funds, pensions, insurance companies, banks, family offices, and high-net-worth individuals. Wasserman emphasizes that recent technology advancements have made climate solutions more cost-effective and beneficial for businesses and consumers.
Mark Segal, the founder of ESG Today, brings over 20 years of investment management and research experience to the publication. His background includes work at Delaney Capital Management and experience with ESG evaluations in both sell-side research and investment management. Mark holds an MBA from Columbia University and is a CFA charterholder.
