Though the last few years have been marked by a downturn in the general venture market, a number of firms have raised eye-popping sums to back climate tech founders. SOSV announced on Tuesday a $306 million deep tech fund that will be 70% focused on climate. New Summit Investments is raising a $100 million impact fund. And Congruent Ventures raised a $275 million fund in 2023, turning down $325 million in additional LP interest. The difference, though, is that those are all relatively established firms. Bay Bridge Ventures is new, having been founded in 2022 with a focus on ESG more broadly and sustainability in particular. Though the firm participated in a $10 million round for SailPlan in 2022, according to PitchBook, it doesn't appear to have any other investments or funds on record, based on a search of SEC filings and PitchBook data. Still, that doesn't mean Bay Bridge lacks experience. General partner Andrew Karsh left pension fund CalPERS to co-found the firm. His co-founders...
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