The Breakthrough Energy Ventures investment company backed by Bill Gates is aiming to raise another $1bn for its third and latest fund to take stakes in companies and technology tackling global warming.
Gates told the FT that Breakthrough was “in the process of raising fund three and that’s going very well”. The number of companies that Breakthrough Energy Ventures invested in would increase by some 40 per cent to about 140 holdings across sectors from energy to agriculture as a result.
“We have a little more than $1bn in funds one and two, and fund three will be about the same size. And then we will do some other funds that are more for follow-on type things,” he said.