Israeli venture capital fund Firstime Ventures has launched a $100 million fund dedicated to sustainable investments. The announcement came on the opening day of the 2021 United Nations Climate Change Conference (COP26) in Glasgow, Scotland.
The sustainability fund, Firstime’s third investment fund, is aimed at Israeli entrepreneurs operating in line with any of the UN’s 17 Sustainable Development Goals, which include zero hunger, clean water and sanitation, affordable and clean energy and responsible consumption and production.
The fund has already invested in two startups, BeeHero and Hygieia. BeeHero’s sensors are installed inside hives to predict bee disorders and help beekeepers address their colonies’ health in real time, while Hygieia has developed an insulin management program for people with diabetes.
“We are rapidly changing our climate and are witnessing a global breakdown. We can longer continue with ‘business as usual’ as the impact of the climate crisis is affecting our health, our economy, and our lives,” Firstime notes.
“We are looking for founders that are helping to solve the world’s most urgent challenges, from reaching net zero carbon goals which will help mitigate the climate crisis, to precision agriculture tools that will help us adapt our farming and food industry to our new climate to accessible digital health solutions that can help billions of patients.”
Firstime’s sustainability fund has reportedly already raised some $50 million and is set to raise the remainder in coming months. The fund is also being supported by Israeli-Canadian investor Jonathan Kolber.
Fighting for Israel's truth
We cover what makes life in Israel so special — it's people. A non-profit organization, ISRAEL21c's team of journalists are committed to telling stories that humanize Israelis and show their positive impact on our world. You can bring these stories to life by making a donation of $6/month.
