#16 - Introducing Stepchange, our new venture fund

As the first episode of the year, I’m focusing on a bit of a personal update. Today, I'm announcing the launch of a new climate venture fund, Stepchange. I use this week's episode to share the story behind the fund.

I struggled with putting this episode out—I felt self-conscious spending the time promoting my work so publicly. But I believe that investing our money, our time, and our social capital in these startups is the best thing that I can do right now to make a difference. These companies will be critical to our energy transition and to addressing big elements of the climate crisis. This is how I’m spending most of my time. This is my toolkit, my hammer—and I’m going to swing it.

So yes, this episode is me introducing Stepchange.

The episode plays out in three parts:

1. We review the Stepchange thesis on climate investing, discuss how the fund came to be, and chat with our venture partners: Anay and Arthur. We also meet three of our fund advisors: Steph, Ari, and Ian.

2. I interview founders from the fund’s first four investments: itselectric, Bayou Energy, Line.Build, and Rhizome.

3. I chat with fund collaborators and investors (LPs): Aaref from Bain Capital Ventures, Julie Sandler from PSL, and Marc Bridge.

Thanks so much for listening today. I'm really excited to get Stepchange out into the world. Here’s to 2024.

-Ben
ben@stepchange.vc

Referenced in the episode:

• Stepchange

• The Guide to Software in Climate Tech, written by Ben and Nathan

• itselectric: Tiya & Nathan

• Bayou Energy: James

• Line.Build: Dasha & Steph

• Rhizome: Mish

• Bain Capital Ventures: Aaref Hilaly

• PSL: Julie Sandler

• Marc Bridge (At Present)

Music: Slynk & Lazy Syrup Orchestra - Mellow Kinda Hype (Balkan Bump Remix)