OC Business Journal

Elevation Ventures looks to raise $50M to advance climate companies

Aliso Viejo-based venture capital firm Elevation Ventures is looking to raise $50 million “to power the next industrial revolution,” Managing Partner Neal Rickner wrote on LinkedIn.

The firm, which was founded in 2020, has partnered with Orange County’s largest incubator, Octane OC, and Irvine’s cleantech incubator Sustain SoCal to help climate tech and sustainability companies “advance through early-stage growth,” the OC native said.

It also brought on climate technology investor Rachel Payne and former Seeder Clean Energy cofounder Alex Shoer.

Elevation Ventures’ check size will range between $500,000 and $3 million for seed to Series A-stage companies throughout Southern California.

In 2020, Rickner moved back to OC from the Silicon Valley, where he served as COO of the airborne wind turbine maker Makani Technologies. Google acquired the company in 2013.

According to Rickner, Elevation aims to raise $20 million of its $50 million goal by this summer, and to make 15 to 20 investments within the next three years.

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2022-05-23T07:00:00.0000000Z

2022-05-23T07:00:00.0000000Z

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