Female-Led Climate Tech Venture Fund Buoyant Closes $76M Debut Fund

Women-owned venture capital firm Buoyant Ventures closed its debut fund at $76 million. The firm backs climate technology startups that work on curbing emissions or leveraging AI and data analytics to fight climate change.

With an additional $5.7 million raised in co-investments, the fund’s total assets under management have reached $81.7 million. The Chicago-based firm is currently focusing on seed to Series A investments.

The firm’s co-founders, Amy Francetic and Allison Myers, started fundraising in January 2020 and have already invested $17.4 million from the fund into nine startups, including Raptor Maps, StormSensor, FloodFlash, Audette and Canopy.

“Buoyant is investing in companies across a broad set of industries that can deliver near-term solutions to climate change. Having founded and run several companies and another venture fund, we understand the positive impact entrepreneurs can bring to the table and what motivates them,” said Francetic.

“There is an urgent need for innovative solutions that help us adapt to climate change and mitigate its worsening impacts,” added Myers.

Microsoft Climate Innovation Fund, Xcel Energy, Bank of America, and the Office of the Illinois State Treasurer are a few limited partners in the fund.