A new venture capital fund is targeting climate solution startups across Canada and beyond.
Raiven Capital this week announced the launch of Raiven Climatech, a US$100M fund aiming to invest in “high-growth startups building digital infrastructure to solve global sustainability and climate challenges.”
The fund will focus on scalable, intelligent systems—leveraging AI and IoT to enable real-time decision-making, resource optimization, and emissions reduction across a wide of array of sectors, including energy, manufacturing, and agriculture, according to Paul Dugsin, a cofounder of Raiven.
“The next generation of climate solutions will come from connected, data-driven platforms,” posits Dugsin.
“We’re looking for founders building mission-critical systems with global potential—and we bring more than capital,” Dugsin continued. “Our global network and deep operational experience help accelerate scale.”
Dugsin believes that a key differentiator of Raiven’s Climatech fund is its anchor investor: Frog Lake First Nation.
“Frog Lake First Nation approached us as they saw the results from our first tech fund—and wanted to co-create a more ambitious future,” commented Supreet Manchanda, General Partner at Raiven.
“This partnership focuses on mobilizing capital, uncovering undervalued ideas, knowledge-transfer while delivering outsized returns,” Manchanda added.
The partnership mobilizes First Nation capital in the VC space, notes Cliffton Cross, a representative of Frog Lake.
“We see venture capital as a tool to shape a future that aligns with our values,” stated Cross. “Raiven uniquely understands that profitability and impact are not at odds—and empowers us to back technologies that are both investable and transformational.”
Raiven’s Climatech Fund thus serves as a platform to “commercialize Indigenous-led innovation, blending traditional knowledge systems such as ‘two-eyed seeing’ with frontier technologies to develop practical, market-driven solutions in digital infrastructure and clean energy innovation,” according to a statement from the firm.
Founded in 2020, Raiven Capital boasts hubs in Toronto, Silicon Valley, and Dubai.