Two climatetech-focused organizations announce a unique partnership
Prithvi Ventures will donate a percentage of proceeds received from its Fund 1 and Fund 2 to Greentown Labs.
Two organizations, one of which invested in “Innovation Crossroads” alum Nth Cycle, have announced a very unique partnership focused on climatetech.
Greentown Labs, the largest climatetech incubator in North America, and early stage climatetech investment fund Prithvi Ventures have announced a first-of-its-kind partnership in the spirit of accelerating climate impact and filling a capital gap among climate start-up support organizations.
Under the arrangement, Prithvi Ventures will donate a percentage of proceeds received from its Fund 1 and Fund 2 to Greentown on a quarterly basis in perpetuity. As a longtime member of Greentown and an engaged investor within the incubator’s start-up community, Prithvi Ventures has invested in multiple Greentown member companies including Carbon Upcycling, Mars Materials, Nth Cycle, and Rheom Materials.
Prithvi Ventures invests in founders who are fearless in writing their own playbook to protect our Pṛthvī (“earth” in Sanskrit) and make money. The firm invests in what it describes as “boring problems with interesting solutions” while taking a monopolistic approach to achieve net zero goals. Having made more than 30 investments, Prithvi Ventures is now deploying capital from its second fund and prefers being the first large check in the start-up to lead rounds.
Greentown is a 501(c)(3) nonprofit accelerating climatetech innovation and commercialization by empowering entrepreneurs and enabling collaboration. As an organization founded by entrepreneurs, for entrepreneurs, Greentown does not take equity in its start-ups. And it strives to provide its portfolio companies with the community, connections, and resources they need to thrive.
It operates incubators in Somerville, MA, and Houston, TX.
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