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In brief: Microsoft CIF, TotalEnergies and EIP back climate VC

Powerhouse Ventures has raised $70 million for its second fund.

Microsoft’s Climate Innovation Fund, TotalEnergies Ventures and Energy Impact Partners are among the investors in a decarbonisation technology venture capital firm that has raised $70 million.

Powerhouse Ventures’ second fund “invests in digital solutions driving decarbonisation in energy, utilities, mobility, financial services, and tech”, the firm’s founder Emily Kirsch said on LinkedIn.

Energy Impact Partners closed a climate technology fund on $1 billion last year, with capital from Microsoft CIF among other LPs.

Other investors in Powerhouse Ventures Fund II include Constellation Technology Ventures, American Electric Power, Toyota Ventures, Credit Suisse and “dozens of industry leaders – the majority of them women”, Kirsch said.