Decarbonization-focused VC investor Voyager Ventures announced that it has raised $100 million for Voyager Partners Select I, its second venture fund targeting investments in climate technology startups.
Founded in 2021 by Sierra Peterson and Sarah Sclarsic, Voyager Ventures invests in early-stage climate technology companies advancing global decarbonization solutions for sectors including mobility, energy, materials, food, the built environment, analytics, industrial systems, and carbon removal.
With the close of the fund, the firm doubles its capital raised for climate tech investment, following the close in 2022 of its inaugural $100 million Fund I. Voyager Ventures noted that each fund was oversubscribed on strong demand for climate solutions.
Sarah Sclarsic, Founding Partner at Voyager said:
“The transition to a decarbonized global economy is the biggest investment opportunity of our lifetime, as the world’s largest industries – from transportation to energy to computing and food – undergo the most rapid change they’ve ever seen. We are investing at the forefront of innovation in these sectors. With this fund, Voyager is doubling down on the tremendous economic potential in companies leading our economy beyond reliance on fossil fuels.”
The new fund will invest in startups in areas including software, hardware and biotech, primarily to Series A investments, but with consideration as well for Series B and beyond. Investments to date include carbon accounting software provider CarbonChain, efficient analytics processor company Intensivate, and carbon capture startup Remora.
Sierra Peterson, Founding Partner at Voyager said:
“We invest in technologies that can outcompete fossil-fueled products on price and performance alone, and we’re seeing decarbonized products that are simply better technology take real market share from polluting legacy incumbents. The energy transition is a generational opportunity and forward-thinking investors recognize the potential for robust returns in climate tech.”