It’s a rocky time in finance — and climate tech investment is no exception. That’s why Amy Duffuor is urging both investors and founders to “have grace.”
Why she matters: Duffuor is general partner at Azolla Ventures, an early-stage hardware-focused venture firm launched by nonprofit Prime Coalition.
- Azolla and Prime this month announced a $239 million fund blending philanthropic capital and traditional investors.
This interview was lightly edited for length.
What’s been the big news in climate tech this month?
- Climate tech isn’t immune to the broader venture downturn. There has been a 40% drop in climate funding in H1 2023 compared to the prior year, according to Climate Tech VC, with growth rounds being especially challenging.
- This deeply concerns me, because climate startups need cash given we are literally running out of time.
What would you add to the narrative?
There is healthy activity in pre-seed and seed rounds but there are a ton of companies struggling to raise Series A and B rounds. They also need support.
While it’s true that early-stage rounds are still getting done (in comparison to growth) not all early-stage rounds are created equal.