Multi-stage venture investment firm B Capital announced two senior appointments aimed at expanding its climate investment platform, including Boston Consulting Group (BCG) Global Chair and former CEO Rich Lesser as Vice Chair, Climate & Sustainability and Senior Advisor, and Jeff Johnson as General Partner to lead the climate business.

Launched in 2015 by Facebook co-founder Eduardo Saverin and Raj Ganguly, formerly of Bain Capital, B Capital focuses on seed to late-stage venture growth investments, with a primary focus on the technology, healthcare and climate sectors. BCG was a founding partner at the launch of B Capital, and the consulting giant maintains a strategic partnership with the firm, providing portfolio companies with access to insights, guidance, programs, engagements and business development services to accelerate and develop their businesses.

The firm’s climate platform invests in and supports growth businesses working to achieve net zero targets. Recent climate tech investments include carbon credit market-focused startup Patch, and real estate decarbonization solutions provider Accacia.

B Capital Co-Founder and Co-CEO Eduardo Saverin, said:

“As more businesses integrate climate into their strategies, Rich’s strategic direction and Jeff’s investment leadership will help us partner with and back the industry’s leading climate entrepreneurs.”

Lesser, who will also continue in his current role at BCG, served as CEO of BCG from 2013 to 2021, and launched the BCG Center for Climate & Sustainability, aimed at supporting businesses and governments to help them act on their sustainability commitments and decarbonization efforts. In his new role, he will help drive B Capital’s strategic direction in climate and sustainability, in addition to strengthening the links between BCG and B Capital in this area.

Lesser said:

“I have known the B Capital team since inception and have seen firsthand how they create value for companies and investors. I believe innovation is key to decarbonizing the economy and am thrilled to join a best-in-class organization that shares my passion for sustainability.”

Johnson joins B Capital from Singapore-based investment company Temasek, where he served as Managing Director, leading the firm’s U.S.-based sustainable investing team. Johnson will lead the climate business, as B Capital continues to further build out the team.

Johnson said:

“At a time when advancement in the industry is needed urgently, I am excited to join B Capital’s climate team and help proven businesses scale their commercial performance and long-term climate impact.”