$300m for Climate And Sustainability companies

Abe Yokell’s Congruent Ventures Raises $300 Million for Climate Startups and will now have more than $700 million in assets under management. 

The fund will  help its stable of climate-focused startups  scale their operations,

Investors include

•  the California State Teachers Retirement System —
• Grantham Foundation, 
• Sobrato Capital, 
• Three Cairns Group and 
• investors advised by Cambridge Associates.

 Two  of Congruent’s companies had already been acquired by oil giant BP Plc: Amply Power, which offers electric vehicle charging for fleets, and Blueprint Power, which provides energy management for buildings. 

The Yokell gem 💎 

“A story is not going to get you a good exit, here,” he said, in an interview. “You’re going to have to build good companies.”