Zoey Dash McKenzie, founder of Public Ventures, has announced the launch of a $100 million impact fund. The fund is aimed at supporting early-stage life science and clean tech startups that are dedicated to improving health equity and climate preparedness in underserved communities.
The fund, which was recently launched, seeks to break away from conventional venture capital structures. Instead, it employs a waterfall structuring, making assessments on a deal-by-deal basis and returning funds back to Limited Partners (LPs) earlier on. The goal is to accelerate capital velocity at the early stage, a critical period for startups.
The launch of this fund comes at a time when the effects of climate change are becoming increasingly apparent. Underserved communities, in particular, are expected to be disproportionately impacted. McKenzie's fund aims to address these disparities by investing in startups that can make a real-world impact.
In a statement, McKenzie said, “Beyond just being an impact fund, we are really breaking away from conventional structures and venture capital submitted in alignment with the needs of accelerating early-stage science... We’re accelerating capital velocity at the early stage, when it’s needed most, so we really sit right in the middle of government grants and traditional venture capital.”
The launch of Public Ventures' new impact fund underscores the growing recognition of the role startups can play in addressing climate change and health equity. With its unconventional approach to venture capital, the fund could provide a much-needed boost to startups in the life science and clean tech sectors.