arctern

Much of the intriguing climate tech that crosses our desks is theoretical or only just coming to market — think: tech that sucks carbon out of the sky, emerging lithium-ion battery alternatives and bio-plastics that’ve yet to seriously scale. The Toronto-based venture firm just announced the close of a $335 million fund (USD) — its third and largest to date. “If you’re not making money, you’re not having impact,” McCaig told TechCrunch. “Climate tech tends to be fairly distributed around the globe, more so than AI and software, which tends to concentrate in California,” added McCaig. The venture firm’s second fund clocked in at $150 million (USD), while its first — a seed fund — totaled $30 million.