Zero Carbon Capital just reached third close on its $37 million fund dedicated to hardware and science-based companies. We got an exclusive look at the LP deck it used to raise from Isomer and Extantia.
The UK firm, which backs hardware and science-based startups, secured cash from Isomer and Extantia. A venture capital firm dedicated solely to science and hardware that tackles the climate crisis has just reached third close on its second fund.
Managing Partner Pippa Gawley, who has been investing in climate tech as an angel since 2016, expects market rate returns of 20% over 10 years. Gawley cofounded the firm with husband Alex, general partner, who spent 14 years at Google where he set up its internal innovation lab. Zero Carbon Capital is currently a team of four. Each of the team has scientific expertise, which Gawley sees as a real differentiator. The firm is on the lookout for an associate in Berlin.
Despite typically longer exit timelines, Zero Carbon Capital's strategy to go in early also means it can sell shares in later rounds, Dagnell added.
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