Fabian Heilemann, founder and CEO of AENU, shares his journey to starting the firm, prioritizing impact without sacrificing returns. They discuss the challenges faced, resilience and adaptation, and making a climate impact. They also explore the importance of regulation, technology development, and individual behavior change in driving climate impact.
Anu, an impact-focused investment firm, prioritizes impact without compromising financial returns.
Founder Fabian Hailemann started Anu to address the climate crisis and combine impact and financial returns.
Authenticity, rigorous methodology, and investor alignment are crucial in overcoming challenges and transforming the financial landscape for impact investing.
Deep dives
Anu: A New Kind of Venture Firm
Anu, a climate technology-focused early-stage firm headquartered in Berlin, has emerged as an investment firm that prioritizes impact without sacrificing financial returns. Founded by Fabian Hailemann, Anu aims to contribute to the climate venture capital landscape by capitalizing on the team's entrepreneurial and investor experiences. With a team of 11 people and a focus on energy transition and carbon removal, Anu seeks to build a portfolio of 30-35 seed and Series A companies. They offer entrepreneurial sparring, impact know-how, B2B market access, and capital formation to their portfolio companies.
The Journey to Starting Anu
Fabian Hailemann, the founder and CEO of Anu, embarked on a journey to start Anu after realizing the need to address the climate crisis in a meaningful way. He initially focused on reducing his personal carbon footprint and evolved to examine the footprints of traditional venture capital firms and their portfolio companies. Hailemann's desire to have a greater impact led him to build Anu, an investment firm dedicated to combining impact and financial returns. Alongside his experiences as an entrepreneur, Hailemann's goal is to create an impact entrepreneurial endeavor in the financial industry.
Challenges in Shifting Towards Impact Investing
Anu faced challenges in shifting towards impact investing within the traditional venture capital landscape. The lack of differentiation between what early-stage climate venture capitalists can offer compared to growth or late-stage investors, as well as insufficient regulatory understanding, hindered the impact-focused ecosystem. Anu recognizes the importance of authenticity, rigorous methodology, and investor alignment in overcoming these challenges. They aim to contribute to the transformation of the financial landscape by focusing on impact know-how, market access, and capital formation while collaborating with like-minded entrepreneurs, LPs, and policymakers.
Building Impact Capital Allocation Institutions
An opportunity exists to build institutions that redefine impact capital allocation and address the shortcomings of existing systems. This would involve creating a middle ground between radical democratization without quality gates and the traditional asset management landscape. These institutions would prioritize authenticity, rigorous methodology, alignment of interest, and accessibility. By transforming the way impact is perceived, this innovation in institutional finance could allow for broader access to capital, while ensuring high-quality investments and inspiring behavioral change towards sustainability.
Final Thoughts: Collaboration and Sustainable Culture
Anu emphasizes the importance of collaboration in the impact investing ecosystem, advocating for a culture that is less competitive and more inclusive. By fostering a collaborative environment, the collective efforts in the impact space can bring about greater success and positive change. Anu also encourages the creation of a socially sustainable workplace that provides access to capital, opportunities for impact, and a more sustainable culture for everyone involved.
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.
Fabian Heilemann is the founder and CEO of AENU. Fabian is a long-time entrepreneur, and after several successful exits, he became very concerned about climate. He started with his personal carbon footprint and then evolved to looking at what he could do internally when he was a traditional, financially-oriented venture capitalist. He looked at the footprints of the portfolio companies of that firm and then ultimately came to realize that he wanted to build a new kind of investment firm that puts impact front and center without being concessionary in any way from a return standpoint.
Jason and Fabian have a great discussion about his journey to starting AENU, some of the core principles the firm stands for and how they go about it, where they are on that journey, how they got going, and where Fabian sees AENU going in the future. And of course how that fits into his thoughts on the broader transition and what we can do collectively to accelerate progress.
In this episode, we cover:
[4:21] An overview of AENU
[5:59] Fabian's decision to work on climate
[12:58] His firm's early structure and evolution
[19:26] AENU's initial vision and its current strategy
[28:50] The relationship between new technologies, sustainability, and their impact on established industries, corporations, and policymakers
[39:10] Fabian's experience trying to start a climate sleeve in traditional VC
[50:07] AENU's check size, portfolio construction, and the firm's scope
[54:23] Fabian's thoughts on the need for collaboration
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Episode recorded on Sept 6, 2023 (Published on Sept 20, 2023)
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