Company Profile
Stepchange Ventures is a Seattle-based early-stage venture capital fund founded in 2023, focused on investing in ambitious, product-led companies that drive significant climate impact. The firm targets software and software-enabled hardware businesses that accelerate energy abundance and upgrade critical infrastructure, emphasizing asset-light, commercially viable solutions that do not rely on government incentives or green premiums.
The fund concentrates on five key sectors within energy and infrastructure, including electric vehicle (EV) charging accessibility, utility data platforms akin to Plaid, AI-driven grid resilience, decarbonizing commercial real estate with resilience insurance, and unlocking permit data through geospatial modeling. Stepchange aims to support founders with hands-on product expertise and a collaborative approach, providing initial investments typically ranging from $100,000 to $200,000 to help startups scale rapidly.
Stepchange has raised $7 million in its inaugural fund and has backed over a dozen startups, including companies like Bayou Energy, Rhizome, and CapeZero. The fund benefits from a diverse and engaged group of limited partners, including Bain Capital Ventures and technology leaders from major firms such as Microsoft, Google, and Amazon. Stepchange’s leadership team comprises operators turned investors with deep experience in fintech, software, and climate tech, committed to accelerating the deployment of impactful climate solutions.
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