San Francisco, CA, April 21, 2022 (GLOBE NEWSWIRE) -- VC Include, the ecosystem focused on educating and advising general partners (GP) and limited partners (LP) to expand their investment opportunities through diversity, today announced the recipients of its Climate Justice Initiative for Diverse Emerging Fund Managers. Originally announced in October 2021, the Climate Justice Initiative was developed with support from the William and Flora Hewlett Foundation to recruit and support historically underrepresented climate fund managers in the U.S. and European markets.
The selected private and public market funds received $100,000 in investments to further their commitments to reversing climate change. Recipients of the Climate Justice Initiative were evaluated based on their overall goals, business plans, and where the funds would be distributed. Selected funds had to be at least 50% owned by GPs that self-identify as members of underrepresented minority or marginalized groups. Additionally, the funds had to demonstrate a commitment to investing in climate solutions and currently raising a fund between $10 to $150 million.
Recipients of the Climate Justice Initiative investments are as follows:
- Etho Climate Leadership US ETF, San Francisco, CA
- Hometeam Ventures, San Francisco, CA ; Miami, FL
- Malaika Ventures, Boston, MA
- Melanin Kapital, Frankfurt, Germany
- Ozone X Fund II, New York, NY; San Francisco, CA; Washington, DC
- SDS VC, London, United Kingdom
- Supply Change Capital, Los Angeles, CA ; Chicago, IL
- Tale Venture Partners, Los Angeles, CA
- The 22 Fund I, Los Angeles, CA
- Unconventional Ventures (UVFI), Copenhagen, Denmark
“We are thrilled to officially announce the recipients of our Climate Justice Initiative,” says Taj Ahmad Eldridge, General Partner at Include Ventures, the fund of funds arm of the Include Franchise. “Marginalized communities are disproportionately impacted by the effects of climate change, and we are proud to be able to direct capital to the funds led by people of color who have made a commitment to improving outcomes for both the planet and historically overlooked groups.”
“While the climate justice movement has been around for decades, it has really begun to receive institutional attention in the last ten years,” says Bahiyah Robinson, CEO and founder of VC Include. “Our goal through the Climate Justice Initiative is to demonstrate that climate funds led by people of color lead to concrete climate benefits, diverse green business ownership, and leadership and workforce opportunities in climate-impacted Black and Brown communities. We have full faith that the funds we have chosen will have these intended impacts.”
Marilyn Waite, managing director of the Climate Finance Fund, and previously a program officer at the William and Flora Hewlett Foundation, added: “Currently the institutions shaping policies and investing capital do not reflect the communities most impacted by climate change. This initiative led by VC Include will create a paradigm shift in the industry and provide non-dilutive capital to funds that are uniquely positioned to invest in climate solutions companies.”
To learn more about the Climate Justice Initiative and its recipients, please visit: www.vcinclude.com/programs.
About VC Include
VC Include is a unique ecosystem and marketplace created to educate and advise General Partners (GP) and Limited Partners (LP) to expand their investment opportunities through diversity. The organization has built the infrastructure for an inclusive economy and is a forerunner in connecting diverse founders with environmental, social and governance (ESG) and impact investing.
About the Include Franchise
Founded in 2018 beginning with VC Include (VCI), the Include franchise has grown into a trio of platforms specializing in accelerating investment toward diverse emerging fund managers and, by extension, impact driven startups that are led by historically underrepresented founders — to drive equality, economic justice and positive long-term impact.
