Supporting a Healthier Environment

In partnership with global organizations Alwaleed Philanthropies "Global" participates in supporting the Breakthrough Energy Ventures project

United States of America

Duration

2017 - 2030

Beneficiaries

57 startups were supported including:

  • Agriculture: 10
  • Buildings: 5
  • Electricity: 16
  • Manufacturing: 19
  • Transportation: 7

Targeting Range

USA

In the context of facing the climate changes that the world is witnessing and for the sake of a healthier planet, Alwaleed Philanthropies "Global" participated in supporting the Breakthrough Energy Ventures project.

BEV is an early-stage venture capital fund that invests in climate-technology companies that seek to mitigate greenhouse gas emissions by at least half a gigaton per year (~1% of annual global emissions).

BEV's mission is to invest in and build companies that leverage innovation in the five sectors that contribute the most to climate change: agriculture, buildings, electricity, manufacturing and transportation.

BEV has ~$1.1B of committed capital from over 20 individual billionaires who are willing to embrace technical risk in order to catalyze and commercialize transformative innovation.

BEV's dual mission:

  • Commercialize climate-technologies that can mitigate half a gigaton of annual greenhouse gas emissions.
  • Draw-in other investors
  • Near-term measures of success: Up-rounds: Of the 46 companies BEV has invested in, 17 have had follow-on financings; all 17 have been up-rounds. Co-investors:
  • BEV has 110 institutional co-investors across its portfolio companies.
  • In aggregate, they have invested~$1.3B* in BEV companies alongside or following BEV’s initial investment.

2021 Accomplishments

Q1 2021:

  • 2 new (indirect through BEV-Europe), 9 follow-on

Q2 2021:

  • 11 follow-on

Q3 2021:

  • 6 follow-on

Q4 2021:

  • 8 follow-on (1 indirect through BEV-Europe)