Swedish VC Pale Blue Dot launches backing food and ag-tech start-ups
A new climate-conscious venture capital company has closed its debut €53 million fund
Pale Blue Dot has entered the market to provide funding to seed and early-stage start-ups playing a part in creating a sustainable future. The venture capital firm this week closed its debut fund, after winning commitments totalling €53 million. NutritionInvestor understands that the firm expects to invest in up to 40 companies.
Pale Blue Dot is interested in companies whose operations and offerings have a positive impact on climate change, in sectors such as food and agriculture, industry, apparel, energy and transportation.
“We need to understand how the climate model, and its feedback loop, works. We also need actions to reduce our footprint, reverse the damage done, and prepare for the new world,” the company said in a post on Medium.
In the statement, Pale Blue Dot recognised that, over the past two years, we have seen a rise in the number of entrepreneurs taking on the challenge of contributing to a climate-positive world. “And, in the last months, we have seen more and more venture capitalists realising the financial opportunity in ClimateTech startups.”
Pale Blue Dot is the brainchild of Hampus Jakobsson, Heidi Lindvall and Joel Larsson, all of whom have longstanding careers in the business and investment arenas.
Jakobsson co-founded The Astonishing Tribe, a business sold to Blackberry in 2012. Jakobsson is also an angel investor in Europe, and venture partner at BlueYard Capital.
Lindvall’s background is in human rights and media. She is the former head of an accelerator and investment team at Fast Track Malmö, where Larsson previously served as managing director.
On Medium, Pale Blue Dot said: “We believe that innovation plays a crucial role in handling the impending disaster. Many reasonable existing solutions can be accelerated with taxes, policies, current consumer demand, and corporate changes. But, as the climate crisis is an exponentially increasing problem, we need exponential solutions.”
More details on Pale Blue Dot are available on its website.