Blisce, a Paris-based Venture Capital firm, launches a $160M climate fund dedicated to technology, pioneering investments in innovative solutions addressing pressing climate challenges
Blisce is the most recent venture capital firm to establish a fund committed to climate technology, with fundraising targets of up to €150 million (approximately $162 million).
The organization has selected investor Pierre-Edouard Berion as the fund’s leader and co-founder of Too Good To Go, Lucie Basch will provide venture partner support.
Blisce, a venture capital firm with headquarters in New York and a Paris location, is more widely recognized as the investment vehicle of Alexandre Mars (see image above).
Mars, a former entrepreneur and current philanthropist, founded and sold several technology companies to major corporations such as Publicis and Blackberry in the early 2000s. The last fund that Blisce raised was $240 million (approximately €225 million).
Mars recently established Blisce, a conventional, for-profit venture capital firm with the B Corporation designation.
Additionally, he established Epic, a non-profit foundation that provides financial support to organizations dedicated to mitigating childhood inequality in health and education and combating climate change.
An integral component of the discourse surrounding Blisce is the inclusion of Epic, as a fraction of the revenue generated by Blisce is reinvested in Epic to support the foundation’s operational expenses.
The Blisce team is making a comparable commitment to Epic, allocating 20% of its carried interest.
The strategy has been fruitful, particularly considering Blisce’s substantial investments in innovative companies, including Headspace, Spotify, and Pinterest.
Recent investments by the firm have been made in Welcome to the Jungle, Brut, and Sorare. The organization’s portfolio comprises various consumer technology companies; climate technology has yet to be its primary focus.
Blisce intends to invest its new fund in technology businesses that positively impact climate change, particularly in sectors such as materials, food, construction, mobility, and energy that are significant polluters.
As stated, the firm intends to assemble a specialized team for this fund and has appointed Pierre-Edouard Berion as its leader.
Berion is well-known among venture capitalists in Paris. He became a partner at Raise Ventures after serving as investment director at Eurazeo for several years, during which time he invested in Zenly, Withings, and Vestiaire Collective.
Lucie Basch is already intimately acquainted with the Blisce team because the firm is an investor in her company, Too Good To Go. By assuming the venture partner role for the developing climate fund, she will continue to work at Too Good To Go while providing supplementary assistance to the fund.
As Blisce continues to solicit contributions for its new fund, the amount it can amass will undoubtedly be intriguing.
