Propeller Ventures

Propeller Ventures is an early-stage venture capital firm dedicated to investing in climate-tech startups operating at the critical intersection of ocean and climate. The firm was founded in 2022 by Brian Halligan and Devdutt Yellurkar with a foundational insight into the ocean's pivotal role as a 'climate superhero' capable of significantly mitigating and potentially reversing climate change effects. Propeller Ventures focuses on accelerating scientific advancements and fostering new technologies that leverage the ocean's potential to address global climate challenges, aiming to protect marine ecosystems while reducing the broader impacts of climate change.

The firm invests across three core themes: Ocean Carbon, Ocean Industrials, and Ocean Organics. Ocean Carbon focuses on technologies for emissions reductions and removals, including marine Carbon Dioxide Removal (mCDR) and related monitoring and modeling. Ocean Industrials targets decarbonization and efficiency improvements in maritime industries such as shipping, offshore wind, wave energy, and desalination, as well as automation and robotics. Ocean Organics supports innovation in food, feed, fertilizer, and novel biologic value creation within aquaculture and agriculture. Propeller Ventures typically invests in pre-seed, seed, and Series A rounds, with check sizes ranging from approximately $500K to $2M.

Propeller Ventures operates its inaugural fund, which closed at $117 million. The firm has a unique multi-year partnership with the Woods Hole Oceanographic Institution (WHOI), providing direct access to world-class scientists, cutting-edge research, and intellectual property. This collaboration enables Propeller Ventures to identify scientifically-grounded investment opportunities and bridge the gap between academic research and commercial venture building. Notable portfolio companies include Vatn Systems, Nexxa.ai, Blue Energy, Aikido Technologies, and Allium, spanning sectors like aerospace, industrial AI, energy, and cleantech.

The leadership team at Propeller Ventures comprises experienced professionals with backgrounds in venture capital, entrepreneurship, and climate science. Key team members include Co-founders Brian Halligan (Executive Chairperson) and Devdutt Yellurkar (General Partner), along with Dr. Julie Pullen (Chief Scientist and Partner), Reece Pacheco (Partner), Steven Fox (Partner), and Rodrigo Prudencio (Managing Partner). This diverse expertise allows the firm to provide both capital and strategic support to founders building at the ocean-climate nexus.