New fund to invest in 15 to 20 early and growth-stage companies across U.S.
BOSTON, November 16, 2022 – MassMutual Ventures (MMV) announced today that it has launched a new $100 million fund to invest in early and growth-stage companies across the U.S. in the climate technology sector. The MMV Climate Tech Fund (CTF) will make investments in 15 to 20 technology companies that address the sources of climate change and provide solutions for managing its impact on individuals, businesses, and communities.
“Climate change represents a challenge to the world economy of unprecedented urgency and scale, leaving no industry or business process unaffected. Meeting this challenge will require an equally unprecedented level of commercial ingenuity and innovation,” said Karl Beinkampen, MMV Managing Director, who will co-lead the MMV Climate Technology Fund. “We believe there is a growing investment opportunity to support the companies and founders who are building solutions to mitigate, measure and manage climate change. MMV’s investment capabilities, access to fund and founder networks and early-stage business expertise will enable the next generation of climate innovators to scale over time while creating a more sustainable future.”
With this new fund, MMV will manage over $1 billion in investment capital – including the funds managed by its other Boston-based team and Europe and Asia-Pacific (APAC) team investing in digital health, financial technology, enterprise SaaS, and cybersecurity companies across the globe. Following its new fund and geographic expansion announced earlier this year, MMV’s Europe and APAC team also considers investment opportunities in the climate tech sector in Europe and the APAC region.
“We look forward to building on the success the MMV fund family has achieved over the past eight years as we launch this new fund focused on a critical and rapidly growing sector,” said Doug Russell, who has served as Managing Director and Head of MassMutual Ventures since its formation in 2014. “While we will concentrate on the climate tech sector, we will primarily target investments in undercapitalized markets that have the potential to generate strong investment returns and drive the breakthrough innovations that are needed to decarbonize the world.”
About MassMutual Ventures
MassMutual Ventures (MMV) is a multistage global venture capital firm investing in climate technology, digital health, financial technology, enterprise SaaS, and cybersecurity companies. With teams based in Boston, Singapore, and London, MMV manages over $1 billion in investment capital across the globe. We help accelerate the growth of the companies we partner with by providing capital, connections and advice. With our deep expertise and extensive Fortune 500 network, MMV helps entrepreneurs build compelling and scalable companies of value. For more information, visit www.massmutualventures.com.