Thursday, September 10, 2020

VertueLab Launches Climate Impact Fund With Donation From LA Philanthropists

A new, climate-focused investment fund--the VertueLab Climate Impact Fund--said it launched yesterday afternoon, fueled by a donation from a couple of Los Angeles area philanthropists. Portland-based VertueLab said it launched its $5M, Climate Impact Fund with the first close of $525,000 from the Woka Foundation, ImpactAssets, Vanguard Charitable and a number of individuals. The Woka Foundation was co-founded by Barbara Karplus and her husband Rob Womer, two philanthropists from Ventura County. VertueLab said its new new fund allows participation by foundations, donor-advised funds, individuals and corporations. The Woka Foundation contributed $250,000 and pledged another $250,000 next May. Karplus said, in a statement, that it is excited to support VertueLab because they are a leader in helping budding science and technology entrepreneurs bring their nascent stage climate solutions to fruition. VertueLab says the fund is now accepting applications from cleantech startups that are innovating climate solutions technologies and in need of both financial and business support through VertueLab.