Bill Gates has announced a major new investment initiative:
The Breakthrough Energy Coalition created BEV to address some of those challenges in the energy market. We are willing to wait a longer time for returns than other funds. We have a higher tolerance for technical risk, because we know it’s tough to determine which technologies will succeed in a complicated energy market. We are led by our investors, who are a unique group of global business leaders, entrepreneurs, energy experts, and company builders who can help new companies navigate the challenges of building a business while developing partnerships with the companies and institutional investors who will help bring those products to scale. The fund is also driven by science. Because of the technical nature of succeeding in an energy market, we will build a team that knows as much about the science behind energy breakthroughs as the investment strategies necessary to build those businesses. Finally, the fund is committed to discovering breakthroughs, wherever they are.