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***
This week, we’re joined by Yair Reem, Partner at Extantia Capital, to break down why the green premium is dead, and what’s next for climate-tech startups.
In this episode, we explore:
* The death of the green premium & rise of the green discount
* How climate startups should price & pitch their solutions
* What VCs really look for in climate investments
* The future of climate tech & the biggest investment opportunities
* … and more!
***
⌛TIMESTAMPS
* 00:00 – Introduction
* 02:15 – What is the green premium, and why did it fail?
* 06:42 – Why customers won’t pay more for green solutions
* 11:30 – The rise of the green discount & new pricing strategies
* 17:05 – Why startups must focus on industry problems, not sustainability
* 28:45 – Case study: How Magnotherm found the right value proposition
* 35:00 – The biggest investment opportunities in climate tech today
* 42:15 – AI’s role in climate startups & competitive pricing
* 48:10 – Rapid-fire questions
* 54:20 – Final thoughts
***
▶️ CONNECT WITH YAIR
* Yair Reem – https://www.linkedin.com/in/yairreem/
* Extantia Capital - https://www.extantia.com/
***
🔗 CONNECT WITH ME
* Newsletter - https://climateventuresvco2.substack.com/
* LinkedIn - https://www.linkedin.com/in/hugorauch/
* Email - [email protected]
* YouTube - https://www.youtube.com/@VCo2_HugoRauch
***
📚 REFERENCES AND MENTIONS
* Extantia Capital – Climate VC firm
* Magnotherm – Reinventing refrigeration
* Vamo – Heat pump company focusing on cost efficiency
* Northvolt – European battery manufacturer
***
🎙️PAST EPISODES YOU’LL LOVE
* Dr Benedikt Buchspies - How to Use LCAs for VC Investments (Planet A)
* Tina Dreimann on Community Investing in Climate Tech (better ventures)
* Tim Schumacher on selling to climate deniers (World Fund)
***
💚 LEAVE A REVIEW
* Apple Podcasts - https://shorturl.at/HIDcg
* Spotify - https://shorturl.at/yDTfR
Listen now on Apple, Spotify, and YouTube.
***
This week, we’re joined by Tina Dreimann (thank you, Tim Schumacher, for the introduction), founder and General Partner of better ventures. Instead of following a traditional VC model, better ventures operates as a community of entrepreneurs investing in and supporting the next generation of impact-driven founders.
In this episode, we explore:
* Why community investing could outperform traditional VC
* The formula: Community + Tech = Impact + Returns
* The biggest challenges for impact entrepreneurs today
* Why climate is just one piece - biodiversity, water, and soil are just as urgent
* How tech and AI help scale early-stage investing
* …and much more!
***
⌛TIMESTAMPS
* 00:00 – Introduction
* 03:45 – Better Ventures: The Origin Story
* 07:30 – The Biggest Global Risks & Where to Invest
* 12:10 – How Better Ventures Finds & Selects Startups
* 17:40 – Smart Capital: What Founders Need from Investors
* 22:50 – Why Community Investing Outperforms Traditional VC
* 27:15 – The Role of Tech & AI in Investment Decisions
* 32:40 – The Future of Impact Investing & VC Evolution
* 38:25 – Challenges in Partnering with Large Corporations
* 42:10 – Fire Questions
* 49:00 – Final Takeaways & Closing Thoughts
***
▶️ CONNECT WITH TINA
* Tina Dreimann – https://shorturl.at/ndhKS
* better ventures - https://www.betterventures.io/
***
🔗 CONNECT WITH ME
* Newsletter - https://climateventuresvco2.substack.com/
* LinkedIn - https://www.linkedin.com/in/hugorauch/
* Email - [email protected]
* YouTube - https://www.youtube.com/@VCo2_HugoRauch
***
📚 REFERENCES AND MENTIONS
* Ocell (AI-driven forestry & carbon credit trading)
* Everdrop (Eco-friendly consumer goods, plastic-free cleaning products)
* Oxyle (Water filtration for PFAS & microplastics)
* Planetary Boundaries Framework
* World Economic Forum Global Risk Report
* En-ROADS Model by MIT
***
🎙️PAST EPISODES YOU’LL LOVE
* Dr Benedikt Buchspies - How to Use LCAs for VC Investments (Planet A)
* Heidi Lindvall on Impact Assessments (Pale Blue Dot)
* Tim Schumacher on selling to climate deniers (World Fund)
***
💚 LEAVE A REVIEW
* Apple Podcasts - https://shorturl.at/HIDcg
* Spotify - https://shorturl.at/yDTfR
Listen now on Apple, Spotify, and YouTube.
***
This week, we’re joined by Dr. Benedikt Buchspies, a scientist at Planet A Ventures, one of Europe's leading climate-tech VC funds. Benedikt has been pioneering the use of lifecycle assessments (LCAs) in venture capital for years and is showing that science + VC = impact.
In this episode, we cover:
* What an LCA is and how it measures climate impact
* Why most VCs ignore environmental data (and why they shouldn’t)
* How impact and financial returns align in early-stage startups
* The challenges of modeling long-term systemic impact
* What VCs should do to implement LCAs in their funds
* And much more..
👉 If you’re an impact investor, this is a must-listen episode.
***
⌛TIMESTAMPS
* 00:00 Introduction and the Journey from Science to VC
* 05:30 Understanding Impact Assessment in Venture Capital
* 10:20 Quantifying Environmental Impact and Systemic Change
* 15:10 Correlation Between Financial and Environmental Performance
* 20:02 Guiding Investment Thesis with Impact Assessments
* 24:15 Integrating Sustainability into Investment Processes
* 32:36 Pros and Cons of Life Cycle Assessment (LCA)
* 38:05 Implementing LCA in Investment Firms
* 40:23 Fire Questions and Conclusion
***
▶️ CONNECT WITH BENEDIKT
* Dr. Benedikt Buchspies – https://shorturl.at/f40rA
***
🔗 CONNECT WITH ME
* Newsletter - https://climateventuresvco2.substack.com/
* LinkedIn - https://www.linkedin.com/in/hugorauch/
* Email - [email protected]
* YouTube - https://www.youtube.com/@VCo2_HugoRauch
***
📚 REFERENCES AND MENTIONS
* LCA - A scientific method for measuring environmental impact
* Emissions scopes – Different levels of carbon accounting for companies
* Monte Carlo Simulation – A technique for modeling uncertainty
* Systemic Impact Modeling – Assessing the broader effects of a startup
* SFDR & EU Taxonomy – Sustainability regulations that apply to impact VCs
* Scenario Analysis – A way to estimate how different variables affect an LCA result
***
🎙️PAST EPISODES YOU’LL LOVE
* Heidi Lindvall on Impact Assessments (Pale Blue Dot)
* Tim Schumacher on selling to climate deniers (World Fund)
***
💚 LEAVE A REVIEW
* Apple Podcasts - https://shorturl.at/HIDcg
* Spotify - https://shorturl.at/yDTfR
Listen now on Apple, Spotify, and YouTube.
***
While traditional VC prioritizes financial returns, makesense invest is proving that social and environmental impact can be at the core of investing, without sacrificing performance. Marion Schuppe, an Investment Director at makesense Invest, joins the podcast to discuss their unique model that integrates a VC fund inside a non-profit.
In this episode, we cover:
* How makesense balances nonprofit with venture capital
* Raising a first-time impact fund: lessons from securing LP commitments
* Why their team takes zero carried interest, and where it goes instead
* The reality of recruiting top talent without traditional VC compensation
* How to measure success beyond financial returns
* And much more..
***
⌛TIMESTAMPS
* 00:00 – Introduction:
* 02:23 Understanding Venture Capital
* 05:34 Make Sense: Mission and Model
* 09:08 Investment Strategy and Impact
* 16:02 Challenges and Innovations in Impact Investing
* 23:07 Raising and Structuring Impact Funds
* 31:10 Investment Process and Criteria
* 41:14 Future of Make Sense Invest
* 45:44 Fire Questions and Closing Remarks
***
▶️ CONNECT WITH MARION
* Marion Schuppe - https://www.linkedin.com/in/marion-schuppe-50b35345/
***
🔗 CONNECT WITH ME
* Newsletter - https://climateventuresvco2.substack.com/
* LinkedIn - https://www.linkedin.com/in/hugorauch/
* Email - [email protected]
* YouTube - https://www.youtube.com/@VCo2_HugoRauch
***
📚 REFERENCES AND MENTIONS
* maksense – a nonprofit and impact ecosystem
* European Investment Fund (EIF) – LP backing makesense invest
* BNP Paribas – LP in makesense invest
* Serena Capital – co-managed a €90M impact fund with makesense invest
* Social & Solidarity Economy – Business models prioritizing impact over profit
* France’s Banque des Territoires – Institutional LP supporting impact VC
***
🎙️PAST EPISODES YOU’LL LOVE
* Heidi Lindvall on Impact Assessments (Pale Blue Dot)
* Eric Gossart on Impact VCs vs Traditional VCs (Racine2)
* August Solliv on cleantech 1.0 lessons (Impact Supporters)
* Tim Schumacher on selling to climate deniers (World Fund)
***
💚 LEAVE A REVIEW
* Apple Podcasts - https://shorturl.at/HIDcg
* Spotify - https://shorturl.at/yDTfR
Listen now on Apple, Spotify, and YouTube.
***
Raphaele Leyendecker, a Managing Director at Techstars Sustainability Paris, where she has invested in 70+ climate tech startups, joins the podcast to discuss early-stage impact assessment and the french ecosystem as it compares to the global landscape.
In this episode, we discuss:
* Why early-stage impact assessment is often a myth
* The biggest challenge for climate startups in France
* How investors should really measure impact
* The role of technological readiness levels (TRLs) in deep tech investing
* How France’s climate tech ecosystem compares to the US and Nordics
* Why founders should focus on revenue before certifications
* And more...
***
TIMESTAMPS
* 00:00 – Introduction:
* 01:14 – Why Impact Assessment is Overrated for Early-Stage Startups
* 04:45 – Defining Impact Metrics That Matter
* 07:32 – Revenue vs. Impact: What Should Startups Prioritize?
* 12:10 – Tools & Frameworks for Impact Investors
* 18:25 – The Role of TRLs in Deep Tech & Hard Tech Startups
* 22:40 – The Strengths & Weaknesses of the French Climate Tech Ecosystem
* 30:15 – Why France is Slow to Scale Climate Innovation
* 35:50 – Comparing France to the US, Nordics & Germany
* 40:10 – Rapid-Fire Q&A: Advice for Founders & Investors
* 48:00 – Closing Thoughts
***
CONNECT WITH RAPHAELE
▶️ Raphaele Leyendecker - https://www.linkedin.com/in/raphaeleleyendecker
***
CONNECT WITH ME
▶️ Newsletter - https://climateventuresvco2.substack.com/
🔗 LinkedIn - https://www.linkedin.com/in/hugorauch/
📧 Email - [email protected]
🔴 YouTube - https://www.youtube.com/@VCo2_HugoRauch
***
INVESTORS MENTIONED
* Citizen Capital
* Wind Capital
* Racine2
* Techstars Sustainability
* Bpifrance GreenTech
* Pale Blue Dot
* Planet A Ventures
* World Fund
* Revaia
* ETF Partners
* 2150 VC
* Norsken VC
ASSESSMENT TOOLS AND FRAMEWORKS
* CSRD (Corporate Sustainability Reporting Directive)
* SFDR Article 8 & 9 (EU impact fund classification)
* Life Cycle Analysis (LCA)
* SDGs (UN Sustainable Development Goals)
* Scope 1, 2, 3 emissions tracking
* Impact Business Model (Dutch framework)
* Mouvement Impact France (French tool)
STARTUPS MENTIONED
* Kumulus
* Miners AI
* NDB Technologies
* BiB Batteries
* Pelikan Mobility
* CarbonBright
* SustainSoft
BOOKS MENTIONED
* Ralentir ou Périr by Timothée Parrique
***
PAST EPISODES YOU’LL LOVE
* Heidi Lindvall on Impact Assessments (Pale Blue Dot)
* Eric Gossart on Impact VCs vs Traditional VCs (Racine2)
* August Solliv on cleantech 1.0 lessons (Impact Supporters)
* Tim Schumacher on selling to climate deniers (World Fund)
***
LEAVE A REVIEW
💜 Apple Podcasts - https://shorturl.at/HIDcg
🟢 Spotify - https://shorturl.at/yDTfR
Listen now on Apple, Spotify, and YouTube.
***
Tim Schumacher, General Partner at World Fund, joins the podcast to share insights on building Europe's largest climate-tech VC and what it takes to back companies that even climate deniers would buy from.
In our conversation, we explore:
* World Fund's investment and fundraising strategy
* Assessing startups with the climate performance potential (CPP)
* Climate-tech that can sell to climate deniers
* The founding of Ecosia
* … and more!
***
TIMESTAMPS
00:00 Introduction
01:22 Tim's Journey from Software to Climate Tech
06:18 Ecosia: A Climate-Friendly Search Engine
14:57 World Fund's Investment Strategy
20:11 The Importance of CO2 Reduction
26:03 Assessing Climate Performance Potential (CPP)
31:12 Defining the Ideal Founder
33:42 Global Applicability and Market Fit
37:32 Due Diligence in Climate Tech Investments
40:51 Selling to Climate Deniers
43:55 Future Outlook for Climate Tech
48:05 Rapid-Fire Questions
54:52 Closing Thoughts and Final Words
***
FRAMEWORKS
* Climate Performance Potential (CPP) - A methodology developed by World Fund to assess how much carbon a technology can save over time.
STARTUPS
* Ecosia – A search engine that uses ad revenue to plant trees.
* Planet A – chocolate alternative made from oats and precision fermentation.
* Anaphite – Developing new battery production methods for electric vehicles.
* Aedifion – AI-powered energy optimization for buildings
FUNDS
* European Investment Fund (EIF): A major LP in World Fund.
* World Fund – Europe's largest climate-tech VC.
* Better Ventures – An impact-focused angel investment group.
* Energy Impact Partners (EIP) – A later-stage climate-tech fund.
***
GUEST
▶️ Tim Schumacher - https://www.linkedin.com/in/timschumacher/
🔗 World Fund - https://www.worldfund.vc/
***
If you’re new here, I'm Hugo Rauch, the founder of VCo2 media and an aspiring climate tech VC who shares insights, interviews, and research about venture capital and climate tech. I aim to help you become a better climate-tech entrepreneur and smarter impact investor.
***
CONNECT WITH ME
▶️ Newsletter - https://climateventuresvco2.substack.com
🔗 LinkedIn - https://www.linkedin.com/in/hugorauch/
📧 Email - [email protected]
🔴 YouTube - https://www.youtube.com/@VCo2_HugoRauch
***
PAST EPISODES
* Heidi Lindvall on Impact Assessments (Pale Blue Dot)
* Eric Gossart on Impact VCs vs Traditional VCs (Racine2)
* August Solliv on cleantech 1.0 lessons (Impact Supporters)
***
LEAVE A REVIEW
💜 Apple Podcasts - https://shorturl.at/HIDcg
🟢 Spotify - https://shorturl.at/yDTfR
***
SUPPORT
💻 Logo and brand design - Alexander Villinsky
📹 Logo animation and transitions - Timothe Lucas
Listen now on Apple, Spotify, and YouTube.
***
August Solliv, a former climate VC, and author of the newsletter Impact Supporters joins the podcast to dive into the learnings from the first wave of cleantech startups and what it means for today’s climate-tech companies.
In our conversation, we explore:
* The reasons behind the rise and fall of Cleantech 1.0
* The lessons learned for Climate Tech today.
* The future of Climate Tech investments
* ...and more!
***
TIMESTAMPS
00:00 Introduction
01:15 Defining Cleantech 1.0
06:24 Case Study: Solyndra's Failure
20:21 Success Stories from Cleantech 1.0
27:38 The Emergence of Climate Tech
29:30 Differences Between Clean Tech and Climate Tech
38:26 The Future of Climate Tech Investments
41:12 Is Climate Tech Dead?
45:47 Rapid Fire Questions
50:31 Closing Thoughts and Recommendations
***
STUDIES
* MIT Study on Cleantech 1.0 (2011)
* John Doerr’s Cleantech Reflections
* "Impact" by Sir Ronald Cohen
STARTUPS AND FUNDS
* Solyndra
* Tesla
* Northvolt
* Kleiner Perkins
CONCEPTS
* Evergreen Funds
* Cleantech 1.0 (2006–2011)
* Climate Tech 2.0 (Post-2010s)
* Technology Readiness Levels (TRLs)
***
GUEST
▶️ August Solliv - https://www.linkedin.com/in/augustsolliv/
***
If you’re new here, I'm Hugo Rauch, the founder of VCo2 media and an aspiring climate tech VC who shares insights, interviews, and research about venture capital and climate tech. I aim to help you become a better climate-tech entrepreneur and smarter impact investor.
***
CONNECT WITH ME
▶️ Newsletter - https://climateventuresvco2.substack.com
🔗 LinkedIn - https://www.linkedin.com/in/hugorauch/
📧 Email - [email protected]
🔴 YouTube - https://www.youtube.com/@VCo2_HugoRauch
***
PAST EPISODES
* Heidi Lindvall on Impact Assessments (Pale Blue Dot)
* Eric Gossart on Impact VCs vs Traditional VCs (Racine2)
***
LEAVE A REVIEW
💜 Apple Podcasts - https://shorturl.at/HIDcg
🟢 Spotify - https://shorturl.at/yDTfR
***
SUPPORT
💻 Logo and brand design - Alexander Villinsky
📹 Logo animation and transitions - Timothe Lucas
Listen now on Apple, Spotify, and YouTube.
***
Heidi Lindvall, a general partner at Pale Blue Dot, a climate-focused venture capital fund from the Nordics, joins the podcast to discuss the unique challenges and opportunities in building a VC firm centered around climate impact.
In our conversation, we explore:
* Her approach to assessing impact as a climate-tech VC
* Why intentionality is the most important criteria for impact
* What we can learn from traditional startups and VCs
* And more..
***
TIMESTAMPS 00:00 Introduction03:18 Why Invest in Climate Tech?05:31 Challenges and Opportunities in Climate Investing11:12 Understanding Impact Measurement22:23 Evaluating Founders and Intentionality30:46 Challenges with Climate Fund Restrictions34:39 Balancing Impact and Returns40:08 Annual Reporting and KPIs44:44 Carried Interest Linked to Impact47:22 Rapid Fire Questions54:15 Summary and Closing Remarks
***
REFERENCED• Impact Measurement Framework• SFDR Article 9 • Climate Pledge• Less is More by Jason Hickel
***
GUEST▶️ Heidi Lindvall - https://www.linkedin.com/heidi_lindvall
***
If you’re new here, I'm Hugo Rauch, the founder of VCo2 media and an aspiring climate tech VC who shares insights, interviews, and research about venture capital and climate tech. I aim to help you become a better climate-tech entrepreneur and smarter impact investor.
***
CONNECT WITH ME ▶️ Newsletter - https://climateventuresvco2.substack.com🔗 LinkedIn - https://www.linkedin.com/in/hugorauch/📧 Email - [email protected]🔴 YouTube - https://www.youtube.com/@VCo2_HugoRauch
***
PAST EPISODES YOU’LL LOVE• Lisa Mangertseder on Carbon Removal (Carbon Removal Partners)• Eric Gossart on Impact VCs vs Traditional VCs (Serena x Racine2)
***
LEAVE A REVIEW 💜 Apple Podcasts - https://shorturl.at/HIDcg 🟢 Spotify - https://shorturl.at/yDTfR
***
SUPPORT 💻 Logo and brand design - Alexander Villinsky📹 Logo animation and transitions - Timothe Lucas
Listen now on Apple, Spotify, and YouTube.
***
Eric Gossart, a partner at Racine2, an 85 million euro impact fund focused on climate, health, and education, joins the podcast to discuss the differences between traditional venture capital and impact investing.
In our conversation, we dive into:
* The reasons behind his transition from traditional VC to impact investing
* His approach to assessing and supporting impact-driven companies
* The strategies he used and concerned he had when raising an impact fund
***
TIMESTAMPS 00:00 Introduction07:48 Defining “Impact” in Venture Capital10:42 Challenges and Strategies in Impact Investing15:07 The Role of VCs in Shaping the Future21:25 Aligning Business Models with Impact26:54 Measuring and Reporting Impact33:59 Understanding Technology Readiness Levels (TRL)37:49 Equity Stories and Fundraising Challenges43:39 Raising an Impact Fund56:54 Fire Questions
***
REFERENCED• Jean Moreau • Cap Horn• Serena and Racine2• Technology Readiness Level• Planet A• France 2030 • Antidote au culte de la performance
***
GUEST▶️ Eric Gossart - https://www.linkedin.com/in/eric-gossart
***
If you’re new here, I'm Hugo Rauch, the founder of VCo2 media and an aspiring climate tech VC who shares insights, interviews, and research about venture capital and climate tech. I aim to help you become a better climate-tech entrepreneur and smarter impact investor.
***
CONNECT WITH ME ▶️ Newsletter - https://climateventuresvco2.substack.com🔗 LinkedIn - https://www.linkedin.com/in/hugorauch/📧 Email - [email protected]🔴 YouTube - https://www.youtube.com/@VCo2_HugoRauch
***
PAST EPISODES YOU’LL LOVE• Lisa Mangertseder on Carbon Removal (Carbon Removal Partners)• Dan Bowyer on Climate Tech and Efficiency (SuperSeed VC)• Thomas Bajas on Energy Markets for Startups (Founders Future)
***
LEAVE A REVIEW 💜 Apple Podcasts - https://shorturl.at/HIDcg 🟢 Spotify - https://shorturl.at/yDTfR
***
SUPPORT 💻 Logo and brand design - Alexander Villinsky📹 Logo animation and transitions - Timothe Lucas
Listen now on Apple, Spotify, and YouTube.
***
Thomas Bajas, a VC at Founders Future, joins the podcast to discuss the energy market and how startups are trying to disrupt it.
In our conversation, we explore:
* The role of energy in modern economies and its link to climate change.
* Innovations driving renewable energy, electrification, and smart grid technologies.
* How to decarbonize energy and how we need to rethink the grid
* Challenges for energy startups, from funding gaps to regulatory hurdles.
* Venture capital’s role in driving innovation within the energy sector.
***
TIMESTAMPS 00:00 Introduction 05:52 The Role of the Grid08:22 Decarbonizing the Energy Mix09:13 Energy Efficiency and Smart Grids19:59 The Future of Energy Startups41:57 Venture Capital in Energy48:40 Final Thoughts and Predictions
***
REFERENCED• Vaclav Smil's "How the World Really Works"• First of a Kind (FOAK) Infrastructure• Green Premium Concept• Transmission System Operators (TSOs)• Distribution System Operators (DSOs)• Behind the Meter• Front of the Meter• V2G (Vehicle-to-Grid) and V2H (Vehicle-to-Home)• Startups: Plexigrid, Ampere Cloud, Plug
***
GUEST▶️ Thomas Bajas - https://www.linkedin.com/in/thomas-bajas/
***
If you’re new here, I'm Hugo Rauch, the founder of VCo2 media and an aspiring climate tech VC who shares insights, interviews, and research about venture capital and climate tech. I aim to help you become a better climate-tech entrepreneur and smarter impact investor.
***
CONNECT WITH ME ▶️ Newsletter - https://climateventuresvco2.substack.com🔗 LinkedIn - https://www.linkedin.com/in/hugorauch/📧 Email - [email protected]🔴 YouTube - https://www.youtube.com/@VCo2_HugoRauch
***
PAST EPISODES YOU’LL LOVECarbon Removal 101 with Lisa Mangertseder (Carbon Removal Partners)Dan Bowyer on Climate Tech, Efficiency, and Sustainable Innovation
***
LEAVE A REVIEW 💜 Apple Podcasts - https://shorturl.at/HIDcg 🟢 Spotify - https://shorturl.at/yDTfR
***
SUPPORT 💻 Logo and brand design - Alexander Villinsky📹 Logo animation and transitions - Timothe Lucas
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