Recently established venture capital firm G2VP announced the closing of its first fund which will invest in companies involved in digitizing traditional industry sectors such as manufacturing, logistics, transportation and agriculture. The $350 million fund was established through commitments of global corporates, foundations, endowments and high net worth individuals.
"As our conversations with the fund's investors took us around the world, it became clear that this new approach to sustainable investing, infusing emerging digital technologies into traditional industries, has enormous global economic potential," said Brook Porter, G2VP Co-founder and Partner, in a press statement.
In 2017 Kleiner Perkins Green Growth Fund (GGF) partners David Mount, Brook Porter, Ben Kortlang and Dan Oros founded G2VP, having worked together for ten years while at GGF. Their domain knowledge and network base is the foundation of the new Fund.
"Today every corner of the industrial world, from energy and manufacturing to logistics, transportation and agriculture, is being disrupted by technology. And while these industries comprise more than half of the economy, they are largely overlooked by the venture community," said David Mount, G2VP Co-founder and Partner.