Superorganism Secures $25.9 Million to Propel Biodiversity-Focused Startups
In a significant stride toward environmental conservation, Superorganism, the pioneering venture capital firm dedicated exclusively to biodiversity, has successfully closed its inaugural fund, amassing $25.9 million in capital commitments. Established in 2023, Superorganism positions itself as the conservationist on the cap table, aiming to support startups that prioritize nature-friendly innovations.
Fund Composition and Backers
The fund attracted a diverse array of investors, including prominent entities such as the Cisco Foundation, AMB Holdings, and Builders Vision. Notably, individual investors like Jeff Jordan, a partner at Andreessen Horowitz, also contributed, underscoring the growing interest in biodiversity-centric ventures.
Investment Strategy and Focus Areas
Superorganism’s investment strategy is multifaceted, targeting companies that:
1. Mitigate or Reverse Extinction: Technologies and initiatives aimed at slowing down or reversing species extinction.
2. Intersect Climate and Biodiversity: Startups operating at the nexus of climate change and biodiversity conservation.
3. Enhance Conservation Efforts: Tools and platforms that empower conservationists to perform their work more effectively.
The firm typically invests between $250,000 and $500,000 in pre-seed and seed-stage companies. Demonstrating a commitment to the cause, Superorganism pledges to donate 10% of its profits to future conservation efforts.
Leadership and Vision
Co-founders Kevin Webb and Tom Quigley bring a wealth of experience and a shared passion for biodiversity. Webb, serving as a managing director, likens their approach to that of a climate tech fund but with a distinct focus on combating nature loss. He emphasizes the firm’s mission to address biodiversity decline with the same urgency and strategic investment as climate change mitigation.
Portfolio Highlight: Spoor
An exemplary portfolio company is Spoor, which utilizes computer vision technology to monitor bird movements and migration patterns. This innovation aims to reduce the adverse effects of wind turbines on local bird populations, benefiting both biodiversity and wind farm developers who must adhere to stringent environmental regulations.
Founding Journey
The inception of Superorganism was serendipitous. Webb, exploring the viability of biodiversity-focused investments, connected with Quigley due to his impressive background. Their collaboration began in 2022, culminating in the establishment of the firm the following year.
Navigating the Political Landscape
Since its inception, the political climate surrounding environmental protection has evolved. Despite these changes, Superorganism successfully met its $25 million fundraising target. Quigley noted that while some potential limited partners required clarification on how Superorganism differentiates from traditional climate funds, the firm’s diverse portfolio effectively illustrates its unique focus.
Diverse Portfolio and Future Outlook
Superorganism’s portfolio spans various industries and technologies, attracting a broad spectrum of follow-on investors and customers. Quigley emphasizes the importance of building a diverse portfolio to showcase exemplary biodiversity companies across sectors. This approach not only highlights the firm’s commitment to biodiversity but also ensures resilience against industry-specific challenges and shifting government policies.
Addressing biodiversity issues often transcends partisan debates over climate change. For instance, Florida Governor Ron DeSantis commended Inversa, a Superorganism portfolio company that transforms invasive species into leather goods, for its role in tackling the python problem in the Everglades.
To date, Superorganism has invested in 20 companies and plans to expand its portfolio to approximately 35 companies with this fund. Quigley underscores the firm’s pioneering role, aiming to guide others in making their initial investments in biodiversity and supporting impactful ventures.
