Bill Gates-backed Breakthrough Energy, headquartered in Seattle, is reducing its operations even more. The organization has decided against pursuing additional capital for Catalyst, its initiative that funds ready-to-scale climate technology projects, Axios reported Friday.
- Catalyst raised an initial fund of $1.5 billion.
- Breakthrough Energy Ventures, a broader climate investment vehicle launched by Gates in 2015 with a who’s who of tech and business leaders, has raised three funds totaling approximately $3 billion.
- Breakthrough, which served as an umbrella organization, began significantly cutting staff and programming shortly after President Trump returned to office last year.
- Gates in October posted a memo on his personal blog making clear his philanthropic focus is on global health and downplaying climate threats.
