A coalition of venture capital and private equity firms, including Breakthrough Energy Ventures, Khosla Ventures, and DCVC, has launched a new $300m initiative to fund climate technology companies struggling to reach commercial scale, according to Bloomberg.

The All Aboard Coalition, which brings together investors managing over $40bn in assets, expects to close its debut fund by October and make its first investments before year-end. The fund will operate alongside members’ existing vehicles and focus on companies developing emissions-reduction technologies.

The move comes as both federal and private funding for climate tech erodes in the U.S. Venture investment in direct air capture startups fell more than 60% in the first quarter of 2025 compared with a year earlier, leaving many early-stage firms without the resources to build large-scale projects. Several startups, including Running Tide and Noya, have already folded, while Climeworks and others have reduced staff to cope with high costs.

Chris Anderson, who spearheaded the coalition, said: “One of the biggest threats to the world’s future is that the companies capable of building a healthy low-emissions global economy are simply not getting the funding they urgently need. The only way to fix that is through collective action.”

The coalition aims to fill this gap, providing targeted capital to technologies such as carbon removal, green hydrogen, and long-duration storage that are critical to advancing the transition to a low-carbon economy.

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