Prime Coalition’s Azolla Ventures raises $239 million to catalyze climate capital
Prime Coalition launched independently-run Azolla in 2021 as a successor to its $50 million Prime Impact Fund. Azolla’s blended capital fund combines $80 million in philanthropic capital with $159 million in impact-aligned investment capital to boost promising early-stage climate solutions that cannot attract conventional investors.
Dozens of investors backed the fund, including Grantham Environmental Trust, Cisco Foundation, smaller family offices, donor advised funds and private foundations, with some catalytic investors writing checks as small as $10,000.
“All of this capital is designed to focus on climate solutions that are unlikely to receive sufficient funding in other places,” Azolla’s Amy Duffuor told ImpactAlpha.