Investment criteria

Investment criteria
We look for businesses with strong fundamentals, clear impact potential, and teams that build for the long term.
Large markets
We invest in markets where better businesses can make a meaningful difference. Often that means sectors that are large, established, and in need of change.
Winning solutions
We invest in solutions that are materially better than the status quo. We look for real traction that proves that your solution fits the problem and market need. Happy customers for the win!
Scalable models
We invest in scalable business models that are able to reach cost-partity to conventional alternatives without relying on green premiums to succeed in the long-term.
Exceptional teams
We back teams with a strong purpose, great ambition and resilience. We believe diversity makes teams stronger.
Path to impact
To create lasting impact, we need to see a credible path to follow-on funding and strong impact embeddeness. We believe market-rate returns help businesses keep building over time.
Impact criteria
Intentionality
We look for strong intentionality, purpose-driven, intrinsically motivated to drive systemic change.
Evidence
We look for solutions that impact the planetary boundaries in a meaningful way and are supported by data and science.
Interlock of financial and impact returns
Mission and business must move in sync to ensure impact remains. We look for a strong interlock of financial and societal returns.
Impact stewardship
Impact should be measurable, actionable, and guided. We look for teams that track outcomes, manage risks, and continuously learn how to do better.
Additionality
We look for innovative approaches that do something materially different than others.
Scale & depth
We look for solutions that can drive both the depth of impact (e.g. CO₂ reduced per unit sold) and the scale of impact (e.g. number of units sold and total CO₂).