Earthshot Ventures

High-Level Overview

Earthshot Ventures is a climate-focused venture capital firm committed to scaling solutions that address climate change across key sectors including energy, food systems, mobility, and industry.[2] The firm operates with a dual mandate: catalyzing significant climate impact while delivering above-market financial returns to investors. Founded in 2021, Earthshot invests in both hardware and software companies from Pre-Seed through Series B stages, targeting entrepreneurs developing technologies that directly address climate mitigation challenges.[2][3]

The fund's investment philosophy centers on identifying early-stage companies with genuine commercial promise and measurable environmental impact. With $50-99M in assets under management, Earthshot has deployed capital across approximately 29 investments as of November 2024.[2] Beyond capital deployment, the firm prioritizes diversity and social equity, ensuring it works with diverse and inclusive teams and boards while partnering with communities most impacted by global climate change.[1] This approach positions Earthshot not merely as a financial intermediary but as an active partner in the climate tech ecosystem, providing strategic support and access to a global network of customers, investors, and policymakers.

Origin Story

Earthshot Ventures was founded in 2021 and is led by climate tech veterans including Mike Jackson and Dawn Lippert, who serve as Founding Partner.[2][4] The firm emerged during a pivotal moment in climate technology investment, when venture capital was beginning to recognize climate solutions as both an urgent necessity and a significant market opportunity. The founding team brought substantial experience from prior climate tech investments, having collectively invested in over 150 climate startups before establishing Earthshot.[6]

The firm's structure reflects deep partnerships with established climate accelerators. Earthshot maintains close collaboration with Launch Alaska and the Elemental Excelerator, an internationally recognized growth-stage accelerator that has raised over $90 million and provided more than $43 million to 117 portfolio companies.[1] This partnership provides Earthshot with access to an extensive pipeline of over 800 companies annually, enabling the firm to identify promising entrepreneurs early in their development journey.[2] The MacArthur Foundation provided $3 million in impact investment funding in 2021, validating the fund's mission-driven approach to climate technology investment.[1]

Core Differentiators

Deep Industry Expertise and Networks

Earthshot's competitive advantage stems from its team's extensive experience in climate technology. The founding partners bring decades of combined experience investing in climate startups, providing portfolio companies with not just capital but strategic guidance rooted in real market knowledge. The firm's access to the Elemental Excelerator's pipeline of 800+ companies annually gives Earthshot significant deal flow advantages and early visibility into emerging technologies.[2]

Sector Breadth with Strategic Focus

Rather than concentrating on a single climate solution, Earthshot maintains a diversified portfolio across energy, food systems, mobility, and industrial decarbonization. This breadth allows the firm to identify cross-sector opportunities and support entrepreneurs working on complementary technologies. Portfolio companies like Lilac Solutions (sustainable lithium extraction), Planet FWD (carbon management for consumer brands), Halo Car (electric ride-hail), and Kanin Energy (industrial decarbonization) demonstrate this strategic diversity.[2]

Mission-Aligned Capital with Financial Returns

Earthshot explicitly rejects the false choice between impact and returns. The firm structures investments to deliver above-market financial returns while maintaining rigorous environmental impact criteria. This dual focus attracts both impact-oriented limited partners and traditional venture investors seeking exposure to the climate tech sector.[2]

Operational Support Beyond Capital

The firm provides more than check-writing services. Earthshot leverages its global network to connect portfolio companies with customers, investors, and policymakers—critical resources for early-stage climate technology companies that often struggle with market access and regulatory navigation.[2]

Commitment to Diversity and Equity

Earthshot prioritizes working with diverse and inclusive founding teams and boards, recognizing that climate change disproportionately impacts marginalized communities. This commitment to equity in the investment process differentiates the firm from traditional venture capital and aligns with emerging best practices in responsible investing.[1]

Role in the Broader Tech Landscape

Earthshot Ventures operates at the intersection of three powerful trends reshaping venture capital and technology investment. First, climate change has transitioned from a niche environmental concern to a central economic and investment thesis. Governments worldwide are implementing carbon pricing, renewable energy mandates, and industrial decarbonization requirements, creating massive market opportunities for climate solutions. Earthshot's timing—launching in 2021 as climate tech investment was accelerating—positioned the firm to capture this wave.

Second, the venture capital industry is increasingly recognizing that impact and financial returns are complementary rather than competing objectives. Limited partners, particularly institutional investors and family offices, are demanding exposure to climate solutions. Earthshot's model of delivering both impact and returns appeals to this expanding investor base, making climate tech a legitimate venture asset class rather than a philanthropic sideshow.

Third, Earthshot benefits from the maturation of climate technology itself. Early-stage climate solutions have progressed from theoretical concepts to commercially viable products. Companies like Lilac Solutions have demonstrated that sustainable lithium extraction can compete on cost and performance with conventional methods. This technological maturation means venture capital can now fund climate companies with realistic paths to profitability, not just environmental benefit.

Within the broader ecosystem, Earthshot plays a catalytic role. By investing in early-stage climate companies and providing operational support, the firm helps entrepreneurs bridge the notorious "valley of death" between initial innovation and commercial scale. The firm's partnership with Elemental Excelerator amplifies this effect, creating a pipeline from early-stage acceleration to growth-stage venture capital. This infrastructure strengthens the entire climate tech ecosystem by reducing friction in the startup journey.

Quick Take & Future Outlook

Earthshot Ventures represents a maturing approach to climate technology investment—one that combines rigorous financial discipline with genuine environmental ambition. The firm's track record of 29 investments across diverse climate sectors, combined with its access to extensive deal flow and operational expertise, positions it as a significant player in the climate venture landscape.

Looking forward, several trends will shape Earthshot's evolution. As climate regulations tighten globally, demand for climate solutions will accelerate, potentially creating more attractive exit opportunities for portfolio companies and generating stronger returns. Conversely, increased competition from larger venture firms entering climate tech may compress valuations and deal flow. The firm's differentiation through operational support and network access will become increasingly valuable in this competitive environment.

Earthshot's commitment to diversity and equity in climate investing also positions the firm ahead of broader industry trends toward responsible capitalism. As limited partners increasingly scrutinize fund managers' diversity practices and impact metrics, Earthshot's early commitment to these principles may become a competitive advantage.

The fundamental question for Earthshot's future is whether it can scale its model while maintaining the hands-on operational support that differentiates it from larger competitors. As the firm potentially raises larger subsequent funds, preserving the deep engagement with portfolio companies that characterizes early-stage venture investing will be critical. If Earthshot succeeds in this balancing act, the firm could become a template for how venture capital can drive both financial returns and meaningful climate impact—a model increasingly demanded by the investment community and urgently needed by the planet.