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No impact without revenue? That’s ArcTern’s climate tech thesis
"If you're not making money, you're not having impact," said ArcTern Ventures managing partner Murray McCaig.
“You might in the future at some point,” the VC conceded, in a nod to firms like Bill Gates’ Breakthrough Ventures, which makes longer-term bets on emerging tech. The UN environmental group has said nations must halve greenhouse gas emissions by the end of the decade to limit warming to a global average of 1.5 degrees celsius. Though electric vehicle sales have slowed lately, McCaig sees this as a “blip.” The VC believes North America is about to reach a tipping point where EV adoption takes off like a rocket, as it has in Norway.
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