High-profile investors commit $1B to form cleantech fund
December 13, 2016
Bill Gates and Jeff Bezos are among the 20 notable investors who've teamed to commit more than $1 billion to Breakthrough Energy Ventures, a new VC fund that will focus on cleantech. The fund is an investment vehicle of the Breakthrough Energy Coalition, a group formed at the 2015 Paris Climate Change Conference that’s committed to finding and investing in ways to power the world with zero emissions.
To meet the coalition’s goal of providing reliable and affordable energy without contributing to climate change, the fund will invest in five key areas: electricity, transportation, agriculture, manufacturing and buildings. Alibaba founder Jack Ma, Virgin founder Richard Branson and VCs John Doerr and Vinod Khosla are among the fund's other investors.