Bill Gates-backed Breakthrough Energy, headquartered in Seattle, is not currently 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 more than three funds with $4 billion under management.
- Breakthrough Energy, which serves 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.
Editor’s note: This story has been updated to correct the number of funds raised and amount managed by Breakthrough Energy Ventures, and to correct Breakthrough Energy’s actions.
