2 VCs and 2 funds investing in climate
CEO & Managing Director
General Catalyst
Check: $1M-$100M+ (multi-stage, GC manages $25B+)
'Responsible innovation' thesis: technology should solve real problems for real people, not create consumer distractions. Strong health and enterprise focus. Author of 'Unscaled' — argues that technology is unscaling the economy, allowing small, nimble companies to compete with large incumbents by renting scale (cloud, AI, platforms) rather than building it. Recently evolved GC into a 'global transformation company' — not just investing but also building internal ventures, acquiring companies, and providing 'transformation services' to portfolio companies and external partners. This is a controversial evolution — GC is now part VC, part PE, part consulting firm. Hemant believes the traditional VC model is outdated and that the next great investment firm needs to do more than write checks. Backs companies that endure and compound over decades. Deep conviction that AI will transform healthcare, reducing costs 10x while improving outcomes. Views technology as a tool for social good, not just wealth creation.
Co-Founder & Managing Partner
Union Square Ventures (USV)
Check: $1M-$25M
Backs 'trusted brands that broaden access to knowledge, capital, and well-being by leveraging networks, platforms, and protocols.' The access thesis is the through-line: every investment should make something important more accessible to more people. Willing to invest in companies without a business model if the product will attract millions. Lives with uncertainty. Now investing in climate tech (both bits and atoms) through a dedicated fund. Fred is thesis-driven — USV publishes its investment thesis publicly and updates it periodically. Each fund has a specific thesis, and every investment must fit. Historically moved through phases: Web 2.0 networks → mobile → crypto/web3 → climate. One of the earliest VCs to take crypto seriously (invested in Coinbase in 2013). Co-founded USV with Brad Burnham in 2003 after learning hard lessons from the dot-com bust at Flatiron Partners.