![]() ![]() Only 19% of companies go on to raise a Series A within 36 months of a seed round, according to a 2018 Dealroom report. "We want the graduation rate from seed to series A to be 75%," Peciulaitis said. The climate tech market is hot, but Peciulaitis said he was not motivated by fear of missing out and will turn companies down in the timing isn't right.Īs well as financial returns, Contrarian measures success via the number of its seed investments that go on to raise a Series A round, at which point they are typically ready to scale. ![]() Peciulaitis and partner Tomas Kemtys want to hear from founders who have a minimum viable product, some traction, and technological validation. Peciulaitis tipped this as a trend to watch as countries move to green up their portfolios. ![]() The fund has also secured cash from Poland's sovereign wealth fund. "We're convinced that the technologies we back, and especially the hardware, will become the infrastructure of tomorrow," he said. The partner wants to fund companies that will fuel the economy for the next 100 years. The investor currently counts mobility company Zoomo, carbon credit rating startup BeZero and solar startup PVcase as part of its portfolio.Ĭontrarian's team is part of the "climate generation," Peciulaitis said, which he said gave it a better understanding of climate change and the ability to support peers building solution-based tech. It's something that you have to be fully committed to." "It's not another trendy, fear-of-missing-out driven space. "The really big shifts and movements are going to happen over the next 10 years," founding partner Rokas Peciulaitis, who has built a growing team of seven all under 35 years old, told Insider. It joins a flurry of climate-focused venture funds that have raised funds in recent months, including Climentum Capital and World Fund. The firm's current LPs include UiPath and N26-backers Molten Ventures, formerly Draper Esprit, and the Grantham Foundation, an organization set up in 1997 to protect of the environment. It expects to reach its second close by the end of September, and full close before the first quarter of 2023.
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |