A new funding vehicle has landed in the climate tech space, and it is an important one. The All Aboard Coalition has launched a $300 million fund backed by leading investors including Breakthrough Energy Ventures, Khosla Ventures, and DCVC.
Many climate tech startups have proven their technology but face a major hurdle when moving from pilot projects to full commercial deployment.
This challenge is often called the “missing middle.” It is the stage where promising innovation risks stalling because traditional investors see it as too early, and infrastructure financiers see it as too late.
Let’s explore what this new fund means for the future of climate innovation.
What Is the All Aboard Coalition Fund?
The All Aboard Coalition is a collaborative investment fund created by a group of established venture capital and private equity firms. It aims to raise $300 million by October and begin investing before the end of the year.
Unlike early-stage seed funds, this one focuses on companies that already have validated technology and are now ready to expand into full-scale production.
It will make equity or convertible equity investments between $100 million and $200 million per company.
In simple terms, the All Aboard Coalition is positioning itself to fill the funding gap between early venture capital and large infrastructure financing, helping climate companies move from concept to commercial scale.
Why the “Missing Middle” Matters in Climate Tech
This stage of financing is critical for climate innovation.
Many climate startups successfully prove their technology in a lab or pilot project, but then face a wall when trying to build commercial-scale systems. These systems often require tens or hundreds of millions of dollars in upfront capital.
Traditional venture firms hesitate at this level because of the long timelines and high costs. Meanwhile, infrastructure funds often wait until a project shows steady revenue.
This leaves a “valley of death” where too many promising climate technologies fail to advance.
Recent data shows that global venture investment in climate tech has slowed in the past few years, creating an even greater need for financing at this scale.
If these companies cannot grow, their technologies cannot deliver the emissions reductions, job creation, and industrial transformation that are urgently needed.
Funds like All Aboard are stepping in to change that story and prove that later-stage climate technology can be both impactful and investable.
Meet the Fund’s Backers
The strength of this coalition lies in its investors.
- Breakthrough Energy Ventures: Founded by Bill Gates, this fund has built a strong reputation for backing groundbreaking clean energy innovations.
- Khosla Ventures: A Silicon Valley firm known for early investments in transformative technology and sustainability companies.
- DCVC: A deep tech investor that supports advanced scientific and industrial innovations, including climate hardware and AI.
- Clean Energy Ventures: A climate-focused venture firm that specializes in helping clean energy companies scale commercially.
Together, these firms bring capital, expertise, and a network of industry connections that can help startups move from pilot projects to real-world operations.
Their involvement also sends a strong signal to other institutional investors that later-stage climate tech deserves more attention.
What This Means for Founders and the Future of Climate Innovation
For climate tech founders who have already validated their technology and are ready to scale, this fund opens new doors.
It provides access to significant growth capital that can support building first commercial facilities, expanding production capacity, or reaching new markets.
This type of financing is especially important for technologies such as long-duration energy storage, green hydrogen, advanced materials, and scalable carbon removal.
These innovations are essential to achieving global decarbonization targets but require substantial capital to move from prototype to market-ready solutions.
For the broader climate ecosystem, the launch of this fund signals maturity. It shows that investors now see climate technology not just as an experimental space but as a viable growth sector capable of producing large-scale impact.
