The Investment Committee will assist Evergreen Climate Innovations in making investments in high-potential cleantech startups from the Midwest. Evergreen Climate Innovations operates a revolving, evergreen investment fund that has, to date, made over $3 million in seed investments in 19 companies from the Midwest.
“The Midwest has a deep reservoir of innovation assets, but promising cleantech startups still face difficulties securing the capital and business support they need to become successful,” commented Erik G. Birkerts, CEO of Evergreen Climate Innovations. “Seed investments from Evergreen Climate Innovations help address this issue and the experts on the Investment Committee help us determine how best to deploy this ‘lifeblood’ towards companies best positioned to deliver the double bottom-line benefits of financial return and positive environmental impact.”
Evergreen Climate Innovations’ investment process utilizes the Evergreen Climate Innovations Challenge platform to identify and source attractive early-stage investment opportunities. The Challenge combines an accelerator program and investment process to deploy up to $1 million annually in seed capital. Companies that receive investment become part of Evergreen Climate Innovations’ portfolio and benefit from ongoing venture development programming, coaching, mentorship and engagement on business development and fundraising efforts.
Participating in the Challenge program is highly selective and securing investment is more so. This year there were nearly 100 applications. Each company was carefully vetted by a team of external evaluators and Evergreen Climate Innovations staff before eight finalist companies were selected to present at the final Challenge event on May 9th, each competing to secure investment from a total pool of up to $1 million.
To ensure the most strategic investment decisions are made, the Evergreen Climate Innovations Investment Committee is responsible for overseeing the investment process. Chaired by Keith Crandell—an Evergreen Climate Innovations board member and Managing Partner of ARCH Venture Partners—the Investment Committee is comprised of experienced investors and cleantech sector experts.
Investment Committee Members Include:
- Keith Crandell – ARCH Venture Partners – Chair
- Sara Chamberlain – Energy Foundry
- David Danielson – Breakthrough Energy Ventures
- Rob Day – Spring Point Capital
- Kevin Deneen – Aster Capital
- Gerd Goette – Siemens Venture Capital
- Jeff Klunzinger – OS Fund
- Veery Maxwell – Energy Innovation
- Josh Posamentier – Congruent Ventures
- Ben Rogers – Broadscale Group
- Brian Tolliver – Schneider Electric
- Stephen Weiland – Caterpillar
The Investment Committee works in close collaboration with Evergreen Climate Innovations staff to evaluate the prospective investment and to make final decisions. In the weeks before the final Challenge event, the Investment Committee conducts a thorough assessment of each company as it relates to the strength of the investment opportunity and the alignment with Evergreen Climate Innovations’ mission of supporting the entrepreneurs leading the clean energy revolution. Ultimately, the Investment Committee makes the final investment recommendations that are announced at the concluding Challenge event.
The Midwest cleantech ecosystem is dramatically strengthened with the involvement of this eminent group, and their efforts further Evergreen Climate Innovations’ vision of a thriving, frictionless ecosystem in the Midwest.