Prime Recognized as a Leading Light in Climate Finance

Prime Coalition was featured by international law firm Foley Hoag as a “leading-light” amongst organizations using catalytic capital to advance climate solutions. They write:

"Founded as a nonprofit organization in 2014 by Sarah Kearney, Prime’s initial role was as a guide and an ecosystem creator, sourcing and vetting the most promising breakthrough ClimateTech solutions, which the private venture capital market was not prepared to fund due to the early development stage and/or high-risk nature of the solutions.  

At the time, there was also a dearth of capital being deployed into the early stage CleanTech/ClimateTech sector, in part due to the failure of many “CleanTech 1.0” startups.  Consequently, Prime was able to play a vital role in the ecosystem, recruiting foundations and philanthropists to fund a wide variety of risky, but high potential impact startup ventures.  

As time went on, Prime evolved its model, deciding to raise a pooled vehicle to scale its impact, and forming the Prime Impact Fund.  Prime ultimately raised over $50 million in philanthropic and mission-oriented capital for the fund, via a mix of program-related investments (PRIs), recoverable grants, as well as traditional grants, to deploy into a broad range of innovative and impactful ventures.”

Read the full article here.