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Blue Bear Capital lands $160M to back AI founders in climate, energy, and industry
The new fund swims against the prevailing currents in its sector, where funds that invest in hardware or a mix of hardware and software tend to dominate.
“The applicability of AI is so universal,” Sack said, citing wind, water treatment, refrigeration, steel, cement, chemicals production, and marine and aviation logistics. Image Credits: Blue Bear Capital“So many parts of the world economy have an energy intensity where, if we were to build a physical, hard asset or a hardware company, it can almost always only serve one narrow vertical. “And M&A, whether that’s strategic or private equity-backed, are much more likely.” As a result, each successful exit might be smaller than the usual outsize numbers that many venture funds target, but in aggregate, he said they hope to deliver similar returns for LPs.
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