Giant Ventures – a venture capital firm for purpose-driven technology founders – has announced the launch of two new funds, totalling $250 million.
Giant builds and backs technology companies solving the world’s most pressing challenges. It focuses on three themes across the UK, the US and the Nordics: climate, health and inclusive capitalism – investing in companies that will have a positive impact on the world.
A $100m seed fund will back 25 early-stage companies, while a $150m climate-focused growth fund fills a major Series B climate funding gap, providing scale-up capital to the world’s leading climate technology companies. The firm has already made 10 investments from the two fresh funds.
Virgin Group is among the backers for the new funds, alongside the founders of Booking.com, Unity and SoFi, as well as current and former CEOs and board members of Rolls Royce, Goldman Sachs, Intel, bp, Johnson & Johnson, Standard Chartered, McKinsey and GSK.
Giant has also attracted capital from a broad alliance of leading institutional investors including BMW, Henkel, RIT Capital Partners, clients of Cambridge Associates, Stepstone, Denmark’s sovereign investment fund, and The Nature Conservancy.
Giant is led by a team of former founders and operators with deep networks in both the US and Europe. It was founded by Cameron McLain, a tech founder and leading angel investor formerly of Hummingbird Ventures, and Tommy Stadlen, co-founder of Swing Technologies (acquired by Microsoft) and best-selling author on sustainable business. Team members include alumni of Revolut, Microsoft, Deliveroo, Babylon Health and Y Combinator.
“Our vision is to create the world’s leading engine of purpose-driven innovation,” said McLain, managing partner of Giant. “We deliver top returns by partnering with the most ambitious founders using technology as a force for good.”
Stadlen, general partner, added: “We believe the biggest technology companies of the decade will be built by solving climate change and improving healthcare – two of the most urgent issues facing humanity. Giant backs companies that matter.”