The First Institutional Fundraise

This episode is part of our Capital Series hosted by Jason Jacobs. This series explores a diverse range of capital sources and the individuals who drive them. From family offices and institutional LPs to private equity, government funding, and more, we take a deep dive into the world of capital and its critical role in driving innovation and progress. 

Sebastian Heitmann is a partner at Extantia Capital. 

Extantia Capital is a platform to invest in breakthrough technology solutions that address the climate crisis via mitigation and adaptation. The 300 million euro platform includes Extantia Flagship, which backs scalable deep decarbonization companies; Extantia Allstars, which partners with mission aligned climate tech, venture capital fund managers; and Extantia Ignite, a sustainability hub, advancing knowledge and competence in climate innovation and ESG practices.

In this episode, we cover: 

• [02:02]: An overview of the Extantia platform and its investment strategies
• [03:03]: What Extantia looks for when evaluating opportunities
• [05:14]: Sebastian's background and the origin of Extantia
• [08:32]: The changing market and political environment that created opportunities for Extantia
• [12:19]: The unique skillsets and expertise within the Extantia partnership
• [16:10]: The evolution of Extantia, starting with a pilot fund
• [18:06]: Extantia's extension projected impact calculation (EPIC) methodology for measuring impact
• [19:43]: The current fund structure and status of fundraising for Extantia's Flagship fund
• [20:18]: Extantia's focus on B2B tech solutions that address the "energy trilemma"
• [22:25]: Investment opportunities in the hydrogen economy and breakthrough cooling tech
• [25:29]: How Extantia thinks about returns and why Sebastian doesn't like the term "impact fund"
• [27:44]: The kinds of LPs the firm targets, including pension funds, insurance companies, sovereign wealth funds, and corporates
• [31:14]: The need for successful exits in the climate tech space
• [33:00]: How current energy models underestimate the impact of innovation
• [38:56]: Alignment between the US and Europe in climate tech innovation and investment
• [43:43]: The types of clean energy tech Sebastian is most excited about
• [45:54]: Advice for people seeking a career transition into the climate sector
• [47:24]: Who Sebastian wants to hear from

Resources mentioned:

• Speed & Scale: An Action Plan for Solving Our Climate Crisis Now (John Doerr)
• How to Avoid a Climate Disaster: The Solutions We Have and the Breakthroughs We Need (Bill Gates)

Get connected: 
Jason Jacobs Twitter / LinkedIn
Sebastian Heitmann LinkedIn
MCJ Podcast / Collective

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Episode recorded on June 20, 2023 (published July 12, 2023) 

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*Editing and post-production work for this episode was provided by The Podcast Consultant