Buoyant Ventures published its 2023 Impact Report. This is the third year we have collected impact metrics from our portfolio companies, following the launch of Fund I. We are proud to support our portfolio companies, which collectively achieved the following impact in 2023.
Theory of Change
Buoyant partners with early-stage companies that can rapidly deploy and scale software and simple hardware solutions. We invest in digital solutions because we acknowledge that climate change is here -- and we must address the speed and scale required to tackle it today. Although we invest for financial returns, we are committed to measuring climate impact across our portfolio to achieve our vision: accelerating a climate-resilient world. Our theory of change is outlined below.
Our Approach
Buoyant analyzes impact at 3 key steps during our investment process, as well through the life of our investment.
We first screen all deals for climate impact at the top of our pipeline funnel. No deal will move forward if it does not have the potential for significant impact.
Second, during diligence we leverage Impact Management Project’s 5 Dimensions to quantify the potential impact of each company. We also ensure each company is aligned to our target Sustainable Development Goals (SDGs).
Finally, we work with each company to identify climate impact and diversity metrics for measurement and codify these metrics in a side letter within our final investment documents. We try our best to align these metrics with GIIN’s IRIS+. Ultimately, these metrics should tie to operational metrics of the company -- as each portfolio company scales, so should its impact.
Portfolio Overview
Buoyant is the largest first-time female-owned venture firm outside of the coasts. To date, we have deployed or reserved over half the fund into 13 investments, including the following companies which reported their impact in 2023:
Audette: decarbonization software for commercial real estate
Beni: software to streamline secondhand clothing shopping
ElectroTempo: software to help site EV charging infrastructure for fleet vehicles
FloodFlash: parametric flood insurance
Raptor Maps: optimization software for solar
ReelData: software to optimize land-based aquaculture production
Shifted Energy: demand response software for residential energy load
2023 Impact Report
Since developing our impact management strategy and toolkit in 2021, this report captures our learnings in institutionalizing impact measurement within the firm. We are excited to track the impact over time. We believe that more data will enhance our insights, making them more meaningful and aiding our understanding of climate impact at early-stage companies.
If you are interested in viewing the full report, please click here.
Join us on Thursday, July 25th, for our webinars:
Greening the Cloud: Reducing the Energy Intensity of AI. Register now.
Fireside chat with Justin Tomljanovic of Xcel Energy entitled “Reimagining the Grid" Register now.
The Summer Series will continue in August, be on the lookout for registration announcements.
Reconductoring could help solve America’s grid problem, by Latitude Media
As Insurers Around the U.S. Bleed Cash From Climate Shocks, Homeowners Lose, by NYT
The State of AI with Marc and Ben, by a16z podcast
Taking stock of IRA wins and political threats, by Political Climate
A Chicago favorite, The Bear!
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