About This Fund
Climactic is a seed-stage venture capital firm co-founded by Josh Felser and Raj Kapoor, with offices in San Francisco and New York City. Felser previously co-founded Spinner.com and Crackle, and established Freestyle Capital; Kapoor co-founded Snapfish (acquired by HP), served as a partner at Mayfield Fund where he was the first VC investor in Lyft, and later served as Lyft's Chief Strategy Officer. Paul Hawken, author of 'Drawdown' and 'Regeneration', serves as Strategic Partner, and Van Jones serves as Strategic Advisor.
Climatic I is the firm's inaugural fund, closing at $65 million in December 2023. The fund deploys $1.5–3 million per seed-stage investment, targeting 20–25 portfolio companies over its lifetime, with approximately half the capital reserved for follow-on investments. The investment thesis centers on software-first climate tech companies decarbonizing enterprise operations and the mobility sector, targeting Physical AI, Energy Tech, and Waste-to-Value startups with near-term commercial pathways rather than long-horizon R&D bets. Climactic co-founded Climate Draft to help migrate technology talent into climate-focused companies, and actively syndicates deals with domain-specialist climate investors.
Nine of the firm's eleven prior angel investments were rolled into the fund at inception, providing an immediate portfolio base at close. Notable early portfolio companies include WeaveGrid (EV and renewable energy integration), MuonSpace (Earth observation satellites), NCX (forest carbon), SINAI Technologies (emissions management), and Lightship (electric RVs). The LP roster includes individual investors Reid Hoffman, Chris Sacca, Ev Williams, Mike Schroepfer, Chris Larsen, Mark Pincus, Logan Green, John Zimmer, and Alison Pincus, alongside institutional investors StepStone, HG Ventures, Brown Advisory, MIO Partners, Knollwood, NfX, and Mayfield.