QBE North America Launches Climate Solutions Fund

QBE North America announced today the launch of its QBE Possibilities Fund, which will focus on accelerating the development and adoption of climate solutions with the potential to have a significant impact on future climate resilience and stability. QBE aims to contribute expertise and resources through the QBE Possibilities Fund, collaborating closely with funders, partners, and innovative early-stage companies. The QBE Possibilities Fund will operate through ImpactAssets, a donor-advised fund based in the US.

"With today’s climate challenges, collaboration, partnerships and strategic capital allocation are essential to support early-stage climate innovations," said David Mulligan, Chief Operating Officer, QBE North America. "Our goal is to work together to nurture and advance these technologies, supporting their transition into practical solutions."

Among the QBE Possibilities Fund first strategic investments is Azolla Ventures, a blended capital fund launched by Prime Coalition that focuses on solutions with profound climate impact potential.

"Our mission is to fund breakthrough climate innovations that might not be launched without catalytic support,” said Matthew Nordan, General Partner, Azolla Ventures. “Bringing corporate expertise and networks to these start-ups is critical for early-stage ventures when it comes to their speed of development and long-term success.”

The fund also placed an investment in ReGen Ventures, an early-stage fund investing in regenerative technologies, particularly in the areas of food and agriculture, materials and products, and decarbonization.

"ReGen Ventures is thrilled to partner with QBE North America via the QBE Possibilities Fund” said Dan Fitzgerald, Managing Partner, ReGen Ventures. "At ReGen Ventures we are obsessed with the potential for regenerative technologies to enrich the lives of people everywhere. We partner with founders daring to build regenerative technologies that redefine critical systems such as food, agriculture, materials, buildings and nature-based decarbonization. Contributions from the QBE Possibilities Fund will help us to drive the requisite capital and talent investment required to radically improve lives within our communities for the better and lead us towards a brighter tomorrow."

QBE says leveraging philanthropic capital to help navigate early-stage risk and catalyze follow-on investment underscores the insurer's dedication to supporting climate solutions and contributing to the growth stages of emerging climate technologies.

Source: QBE, https://www.qbe.com/us/newsroom/press-releases/qbe-north-america-launches-the-qbe-possibilities-fund-to-foster-collaborative-climate-solutions