G2 Ventures Partners raises $750 million for third fund

G2 Venture Partners, the high-profile firm spun off from Kleiner Perkins Caufield & Byers, is raising a third fund with a $750 million target, TechCrunch has learned.

The increase disclosed in A regulatory filingis a high vote of confidence in climate and sustainability startups, while other investors cautious optimism about the fate of such companies under the incoming Trump administration.

The firm has invested in some well-funded startups, including Arcadia, a renewable energy information platform1Comma5 is a platform home electrification installersand Crusoe, a power and artificial intelligence data center developer 600 million dollars.

G2VP invests in founders who want to “disrupt the link between consumption and growth,” according to its website. The firm did not immediately respond to questions about the new fund.

G2VP’s limited partners in previous funds include Daimler, Mitsui, Shell Ventures and The McKnight Foundation. His second fund eventually hit 500 million dollarsClosed in 2021.

The $750 million target for the new fund is a healthy raise, indicating that G2VP thinks there are plenty of tailwinds for climate and sustainability startups in the coming decade.