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Overview

CI describes the fund's climate focus as mitigation, adaptation, environmental protection, health, and safety.

Investment focus

The fund targets companies addressing climate mitigation, adaptation, environmental protection, health, or safety. CI lists energy, mobility, circular economy, water, and food and agriculture among its investment areas. It considers opportunities from proof of concept through Series B/C, as well as fund-of-funds opportunities. CI says it favors technology or designs that are difficult to copy, including through patents, distinctive design, or an innovative go-to-market strategy.

Who it is for

The fund considers companies at proof of concept, seed, Series A, and Series B/C, as well as fund-of-funds opportunities. CI's geographic criteria vary across sections: one refers to Connecticut headquarters or plans to grow jobs in the state; another refers to a Connecticut employee majority or job creation. The FAQ says a Northeast presence may be relevant at application and expects out-of-state companies to establish some Connecticut presence for an investment. International companies and venture funds must establish their U.S. headquarters in Connecticut.

Check if you are eligible

Check your eligibility for {"value": "ClimateTech Fund"}

Admissions and application

Submit a pitch deck using the form linked from the official fund page. CI says it reviews applications on a rolling basis with no deadline and will contact applicants within one week after receiving materials. If CI proceeds with due diligence, it estimates the investment process will take two to four months. Co-investors are required, and CI prefers to invest no more than one-third of a syndicated round.

Benefits

Companies funded by CI receive ongoing strategic support from its investment team. The funding is an investment rather than a grant.

Timeline

CI's criteria describe a 10- to 15-year fund life, and its strategy targets 15 to 25 companies. Applications are reviewed on a rolling basis with no deadline. CI says it will contact applicants within one week of receiving materials; if it proceeds with due diligence, it estimates the investment process will take two to four months.

How to go about it

  1. Read what it asks for

    Who can apply, how people get in and whether it is open right now.

  2. Have something to show

    Programs pick people whose work they can already point to. Put yours where it can be found.

  3. Apply the way the program asks

    The program has not published how to apply. Terms and dates change. Check the official page before you act.

What it pays

The fund makes investments rather than grants. CI may invest through priced equity rounds, convertible notes, SAFEs, other equity, or blended debt. Its fund criteria list $150,000 to $2 million annually per company, while its general funding listing gives $150,000 to $5 million per company. The FAQ separately describes a usual initial amount of $150,000 to $2 million per financing round and a $20 million round cap. CI's official pages therefore give differing investment ranges; the applicable amount is not resolved by the published information. The reviewed material does not specify a standard ownership percentage.

Questions about this program

What geographic criteria does the fund use?

CI's published criteria refer to Connecticut headquarters or planned job growth, and another section refers to a Connecticut employee majority or job creation. The FAQ says a Northeast presence may be relevant at application but expects out-of-state companies to establish some Connecticut presence for an investment. International companies and venture funds must establish their U.S. headquarters in Connecticut.

How do I submit a pitch deck, and is there a deadline?

CI provides a pitch-deck submission form on the fund page and says applications are reviewed on a rolling basis with no deadline.

How long does the investment process take?

CI says it will contact applicants within one week after receiving materials. If it proceeds with due diligence, it estimates the investment process will take two to four months.

Is the funding a grant, and what investment amounts are listed?

The funding is an investment, not a grant. The fund criteria list $150,000 to $2 million annually per company, while the general funding listing says $150,000 to $5 million per company. The FAQ describes a usual initial amount of $150,000 to $2 million per financing round and a $20 million round cap; the published pages do not resolve the differing ranges.

Are co-investors required?

Yes. CI says co-investors are required and that it prefers to invest no more than one-third of a syndicated round.

About Connecticut Innovations

Connecticut's strategic venture capital arm.

From public sources

What the sources say about {"value": "ClimateTech Fund"}

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