Stepchange Ventures

Overview

Stepchange Ventures is a Seattle-based venture capital firm that focuses on early-stage investments in product-driven businesses within the information technology, climate technology, and SaaS sectors. The firm emphasizes environmental and social factors alongside financial returns, aiming to support companies that drive significant climate impact. Stepchange Ventures seeks to invest in software and software-enabled hardware businesses that accelerate energy abundance and upgrade critical infrastructure, prioritizing asset-light, commercially viable solutions that do not rely on government incentives or green premiums. The firm's investment strategy concentrates on five key sectors within energy and infrastructure: electric vehicle (EV) charging accessibility, utility data platforms akin to Plaid, AI-driven grid resilience, decarbonizing commercial real estate with resilience insurance, and unlocking permit data through geospatial modeling. Stepchange Ventures provides initial investments typically ranging from $100,000 to $200,000 to help startups scale rapidly. Since its inception in 2023, Stepchange Ventures has raised $7 million in its inaugural fund and has backed over a dozen startups, including companies like Bayou Energy, Rhizome, and CapeZero. The firm benefits from a diverse and engaged group of limited partners, including Bain Capital Ventures and technology leaders from major firms such as Microsoft, Google, and Amazon. Stepchange Ventures' leadership team comprises operators turned investors with deep experience in fintech, software, and climate tech, committed to accelerating the deployment of impactful climate solutions.

Investment Focus

• Product-driven businesses
• Early-stage companies
• Focus on IT, climate tech, and SaaS sectors
• Emphasis on environmental and social impact alongside financial returns

Portfolio Companies