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Alternative Assets  + VC  | 
Congruent Ventures Raises $300M to Finance its Climate-Tech Startups

Congruent Ventures Raises $300M to Finance its Climate-Tech Startups

Early-stage climate tech investor Congruent Ventures has more than doubled its total capital raised through the final close of its $300 million third fund – Congruent Continuity Fund I LP.

Co-founded by Abe Yokell and Josh Posamentier, the startup’s new vehicle comes six years after the San Francisco-based firm raised $92 million for its debut fund, before picking up $175 million for Fund II in 2021.

Unlike its previous funds, which are aimed at the seed and Series A stages, the new Continuity Fund will focus on providing financing for its portfolio companies, which include alternative protein startup Meati Foods, recycling tech business AMP Robotics, geothermal tech developer Fervo Energy and Span.IO, which makes smart-home energy systems.

LPs backing the new fund include CalSTRS, investors advised by Cambridge Associates, multiple US and Canadian pension funds, the Grantham Foundation, Builders Vision, the Three Cairns Group and Sobrato Capital.

Congruent now has more than $700 million in assets under management and has made over 50 investments across its early-stage pure play climate tech portfolio.

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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