Earthshot Ventures

We’re excited to be sharing our 2023 Impact Report, which really isn’t about us. It’s about the incredible work of our portfolio companies who are building technologies to decarbonize energy, mobility, food systems, and industry at scale. A few highlights from 2023: 🌎 - The market remains strong for climate technology: In 2023, in spite of an overall market slowdown, our portfolio raised $342 million. While the broader venture market declined 30% (U.S.) to 45% (Europe), climate tech venture remained resilient, staying within 15% of 2022 volumes. The category remains very active and we’re seeing competitive rounds across stages. ☀ - We continue to outperform our peers in DEI: 45% of the dollars deployed from Earthshot Ventures have gone to underrepresented founders, reflecting our commitment to diversity and inclusion. 31% of our dollars have been deployed to female founders, which is well above the average across the venture ecosystem. 🌳 - Our portfolio continues to grow: Our portfolio expanded to 21 investments. We’re particularly excited about growth across our portfolio including KoBold Metals, Parade AI, and Vaulted Deep, who are featured in this report. Each investment in our portfolio is carefully considered for climate impact and financial performance. 📈 - Carbon impact is primed to scale: We continue to track and measure direct carbon reductions across our portfolio. Our report showcases 4,581 tons of CO2 equivalent reduced by our portfolio in 2023, with nearly 40,000 tons of CO2 equivalent projected to be reduced in 2024. Each commercial inflection point that we support through our dollars and coaching creates momentum toward greater impact. ☘ - We’re doubling down on a collaborative investment approach: We have co-invested and collaborated with diverse and experienced VC firms, from both inside and outside of climate, highlighted on page 21 of the report. We are also continuing our deep collaboration with Elemental Excelerator by sharing investment opportunities and resources. Looking ahead, we believe the news regarding the Greenhouse Gas Reduction Fund will be a meaningful accelerant in addressing climate change, and we look forward to collaborating with Elemental as the capital is deployed through this historic fund. Check out the full Earthshot Ventures 2023 Impact Report here: https://lnkd.in/gE_GVxxY Planet FWD, Lilac Solutions, Vibrant Planet, Mitra Chem, Kanin Energy, KoBold Metals, Halo.Car, Mootral, Noteworthy AI, Toucan, Tread, Derapi, Aquabyte, Pattern Ag, Sunstone Credit, LayerUp, SuperCircle, Vaulted Deep, Sightline Climate (CTVC), PitchBook, Mike Jackson, Dawn Lippert, Matt Logan, Austin Blackmon, Garrett Apel, Brianna Rodrigues

This climate tech investor and his team have invested in 200+ startups with over $1B in follow-on capital. Here's my EFI (Entrepreneurs for Impact) podcast with him. Episode #178: Mike Jackson, Managing Partner of Earthshot Ventures Earthshot VC is an early-stage venture capital firm backing entrepreneurs making a dent in climate change. Mike is an investor, entrepreneur, board member, and advisor to companies in the clean energy, food & agriculture, buildings, and mobility. He is formerly an Investor in Residence at Elemental Excelerator and Developer in Residence at Generate. 🔗 Links: Earthshot Ventures - https://www.earthshot.vc/ Mike - https://lnkd.in/e6W9Ah8j 🍎 Listen on Apple: https://lnkd.in/epqXpi8w 🟢 Listen on Spotify: https://lnkd.in/e52r_dGS ✔️ Learn about EFI's climate CEO peer groups: https://lnkd.in/ePfQdsp7 Dawn Lippert

Earthshot Ventures invested in Vaulted Deep last year because they have the lowest cost proven technology for high quality permanent CDR that we've seen. Today I'm thrilled to share that Vaulted has signed a $58.3M offtake agreement with the leading CDR buyer, Frontier. This is Frontier's largest offtake to date! While Vaulted only officially became a company last year, they're building off of decades of work. Applying a mature technology originally commercialized in the oilfield space to carbon removal means that Vaulted can reach massive scale in the near term. It also means Vaulted has a CDR approach that's safe, tested, and fully regulated. Congrats to Julia Reichelstein, Omar Abou-Sayed, and the rest of the Vaulted team!

Earthshot Ventures is thrilled to continue backing Lilac Solutions, Inc. on its mission to scale the world's most cost effective and sustainable technology for harvesting lithium from salt water brines, where most of the world's lithium is found. In order to meet the growing global demand for EVs, the world will need an order of magnitude increase in lithium, and Lilac is positioned to play a major role. https://lnkd.in/dYtHk2Gw https://lnkd.in/gr8QZvMv

Earthshot Ventures is excited to announce our investment SuperCircle! When I was the Chief Sustainability Officer for the City of Boston, clothes and textiles were a major problem in our waste stream. SuperCircle's solution directs used garments straight from closets to their next best use, ranging from someone else's closet to a fiber recycling company. When a consumer uses SuperCircle, a retailer sends them a discount code for a future purchase and a shipping label that takes the garment directly to where it needs to go. This eliminates two major cost drivers, the need for difficult sorting at a waste facility and the potential for contamination in transit. These operational improvements coupled with highly attributable new revenue for retailers can flip the economics of recycling and incentivize fashion brands to start circularity programs. By working with SuperCircle, premium retailers can get more revenue from their marketing spend and divert some of the 34 billion pounds of garments that end up in US landfills each year. By increasing brand loyalty and attributable revenue, SuperCircle moves sustainability and circularity from a "nice to have" for the Head of Marketing to a "must have" for the CFO. Congratulations to Chloe Marie Songer, Stuart Ahlum and Phong Nguyen for building the team to make this all happen. Keep up the good work!

I’m delighted to announce the promotion of both Matt Logan & Austin Blackmon from Principal to Partner at Earthshot Ventures!   Matt was a founding member of the team and was an integral part of helping us raise our first fund, which was oversubscribed by almost 2x. Matt also built and leads our sourcing engine - and it’s working. We’ve made four investments from our in-house data platform, three investments from our Venture Partner program, and three investments from our deep accelerator partnerships. Beyond these tangible accomplishments, Matt brings a deep discipline and selfless pursuit of the truth to his craft, and our team is so much better because of the culture he has instilled. Austin joined our team very early on and has never stopped learning and accepting the next challenge placed in front of him. He built our diligence process, our portfolio reporting and support infrastructure, and has become the de facto Chief Operating Officer at Earthshot. He has also somehow found time to lead several of our investments and generously lends his experience to companies across our portfolio. And most importantly, Austin has been a pure delight to work with - I've never seen a bad day get him down, and I know that whenever the next challenge for the firm arises, I have Austin in my corner to say "don't worry, I got this." It has been a daily honor to work with you both. So…please join me in congratulating Matt & Austin! Dawn Lippert, Ramsay Siegal, Garrett Apel, Brianna Rodrigues

Big day for our portfolio company, Planet FWD! Congratulations Julia Collins and team on this exciting product milestone. Earthshot Ventures, Planet FWD, Mike Jackson, Dawn Lippert, Austin Blackmon, Matt Logan, Elemental Excelerator, Mitch Rubin, Danya Hakeem, Garrett Apel

Welcome to the portfolio Vaulted Deep!