Climate-focused venture capital funds have already raised $6.9bn since the beginning of 2024, up from $5.2bn for the entirety of 2023, according to a new report from Venture Capital Journal. While climate VCs have closed less funds overall — 24 compared to 26 last year — the average pot size has swelled from $202mn to $267mn so far in 2024. This climate tech cash boost is largely reflective of a new fund from billionaire Bill Gates’ Breakthrough Energy Ventures (BEV). The American climate tech funding vehicle recently closed its third fund at more than $839mn. BEV also closed a smaller,…
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