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Breakthrough Energy Ventures Raises $839 Million for Largest Climate Fund of 2024, Targeting Key Investment Areas.

Sustainable investments-focused energy investment firm, Breakthrough Energy Ventures, has raised over $839 million for its third flagship fund, BEV III. The fund is set to be the largest climate fund raised in 2024 so far, according to a submitted by the firm. The firm confirmed that it is working on a new fund, with a focus on five key investment areas in climate innovation: electricity, transportation, manufacturing, buildings, and food and agriculture. The timing and size of the fund, which is yet to be disclosed, have not yet been disclosed. Breakthrough aims to finance, launch and scale companies that can reduce greenhouse gas emissions throughout the global economy. Alongside Gates, the firm is also backed by Jeff Bezos, Michael Bloomberg, Richard Branson and Mukesh Ambani.

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