Greentown Labs, the largest climatetech incubator in North America, and early-stage climatetech investment fund Prithvi Ventures announced a first-of-its-kind partnership in the spirit of accelerating climate impact and filling a capital gap among climate startup support organizations.
Prithvi Ventures will donate a percentage of proceeds received from its Fund 1 and Fund 2 to Greentown on a quarterly basis in perpetuity. As a longtime member of Greentown and an engaged investor within the incubator’s startup community, Prithvi Ventures has invested in multiple Greentown member companies including Carbon Upcycling, Mars Materials, Nth Cycle, and Rheom Materials.
Prithvi Ventures invests in founders who are fearless in writing their own playbook to protect our Pṛthvī (“earth” in Sanskrit) and make money. They invest in boring problems with interesting solutions while taking a monopolistic approach to achieve net zero goals. With a legacy of over 30 investments, they’re now deploying capital from their second fund and prefer being the first large check in the startup to lead rounds.
Greentown is a 501(c)(3) nonprofit accelerating climatetech innovation and commercialization by empowering entrepreneurs and enabling collaboration. As an organization founded by entrepreneurs, for entrepreneurs, Greentown does not take equity in its startups. And it strives to provide its startups with the community, connections, and resources they need to thrive. With incubators in Somerville, Massachusetts, and Houston, Texas, Greentown is home to over 200 startups and has a network of over 85 corporate partners.
KEY QUOTES:
“There’s an understanding in sports that the best teams always take responsibility and accountability for their own and look out for each other—that the members of the team are a reflection of the franchise. I have always believed the same to be true in venture, too. Founders should know their supporters, team, and cap tables inside and out. It matters who you surround yourself with and Greentown Labs is always the first name that comes up for me. Every founder in climatetech should work with them or they’re missing out on so much.”
- Kunal Sethi, Founder and General Partner at Prithvi Ventures
“We are delighted to deepen our relationship with Prithvi Ventures and are grateful for their ongoing support. Through this new partnership, Prithvi Ventures and its limited partners are setting an example for how the venture community can more directly support the incubators and accelerators working to catalyze climatetech innovation and entrepreneurship.”
- Aisling Carlson, Senior Vice President of Partnerships at Greentown Labs
