Climate VC Pale Blue Dot drops 'climate' label: 'The term has become too narrow'
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Pale Blue Dot are known to be Sweden's first dedicated climate investor. Now, the firm is stepping away from that label. "Climate as a concept has become politicised, limiting and narrow", they state in a joint announcement, as they outline their new areas of focus.
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Pale Blue Dot is a well-known venture capital firm within impact and climate issues. Founded six years ago by Hampus Jakobsson, Heidi Lindvall and Joel Larsson, they are often regarded as Sweden's first genuine climate-focused venture capital firm.
But now they're moving away from that term.
In a joint statement in their newsletter, they write that climate change, which is is worse than ever, "is the one topic on which we should all be united and work on, but climate as a term has become politicized, limiting, and narrow."
The founders argue that when they started, "climate" wasn't even an investment sector but rather a way of viewing the world. But in recent years, they say, "the word climate has become synonymous with a very narrow set of problems and how to invest, which we don’t subscribe to".
"Due to this, we no longer call ourselves a climate fund", they write.
Instead, Pale Blue Dot presents a new investment strategy under three main headings: Optimise, Adapt and Pioneer. They argue that due to climate pressures, every single process will be redesigned, which is the largest macro-shift for both humanity and venture capital.
"Venture capital and technology alone are not the answers, but if used well, they can play an important role in transforming our society. Fundamental companies will be built and invested in, whether you call them 'climate' or not", they conclude.
Impact Loop reached out to Pale Blue Dot's founders on Friday afternoon.
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