Breakthrough Energy Ventures lands $839M for BEV III
Description:
In July 2024, Breakthrough Energy Ventures (BEV), founded by Bill Gates, secured $893 million for its third fund, BEV III, aimed at financing and scaling companies that reduce global greenhouse gas emissions. Notable investors include Jeff Bezos, Jack Ma, Reid Hoffman, and Michael Bloomberg. To date, the fund has invested in approximately 110 portfolio companies ranging from seed to growth stage.
For BEV III, Gates has stated that he will only back companies demonstrating potential to reduce emissions by at least half a gigaton. While the specific funding target for BEV III was not disclosed, it's worth noting that BEV I raised $1 billion in 2016, and BEV II secured $1.25 billion in 2021.
BEV is part of a larger Gates-backed initiative called Breakthrough Energy, which encompasses policymakers and emerging climate technologies that complement its venture efforts.
Leadership:
Rodi Guidero - Executive Director, Breakthrough Energy & Managing Partner
Carmichael Roberts - Business Lead, Investment Committee
Eric Toone - Technical Lead, Investment Committee
Investors:
Jeff Bezos - Executive chairman and former president and CEO of Amazon
Jack Ma - Co-founder of Alibaba Group
Reid Hoffman - Co-founder and executive chairman of LinkedIn
Michael Bloomberg - Co-founder and former CEO of Bloomberg L.P.
Sources:
