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✅ Accreditation moving in the wrong direction?
The US House Financial Services Committee recently discussed a series of bills to change the current definition of an accredited investor (AI):
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These bills passed the committee vote and can now be voted on by the full US House of Representatives:
HR1579 would broaden the accredited investor definition to include those holding certain designations, certifications and credentials (like CPAs).
HR835 would do the same as HR1579 but also freeze the financial thresholds.
HR2797 would scrap the current definition altogether and instead require investors to pass an accreditation exam.
These bills are advertised as ways to make accreditation more accessible but will hardly move the needle. HR2797 may actually decrease accreditation, making it more difficult for impact investors to support climate startups. And we can’t forget that as of last year the SEC was considering raising the minimum AI net worth. The trend is worrisome but it’s worth noting that Intention is moving in the opposite direction, empowering anyone to become a climate impact investor via our upcoming climate tech fund.
Overheard at Harvard Climate Action Week
This week, Intention founder Nisha Desai is in Cambridge talking and listening to some of climate’s biggest investors. A few eye-opening quotes:
“VC industry is absolutely the best and most important part of American capitalism” - Jeremy Grantham, Grantham Foundation
“How do we 100x the level of climate finance we have right now?” - Peter Tufano, HBS
“We still lack the stewards of the capital. The people. Too many app developers. Far too few project developers” - Scott Jacobs, Generate Capital
Intention’s Twitter list
Twitter is an incredible resource, warts and all. Each day, millions of scientists, writers, activists, investors share their thoughts/insights with the world. Climate investors often use Twitter to:
Better understand a specific sector
Keep track of current events and ever-changing policy
Source climate deals
We’re especially fans of a rarely utilized feature called Twitter Lists. Lists are the equivalent of TV channels on Twitter. Subscribe to anyone’s list and instantly gain access to a curated Twitter feed based on their specific interests. Functionally, this is what it looks like:
We curate a list of our own, charmingly named Intention’s Climate List. This is your shortcut to a channel of amazing thinkers, investors and organizations that eat/sleep/dream climate tech, investing and policy. It’s in no way a complete list, it’s always growing, so let us know if there’s anyone we should add in the comments!
📈 New ways to invest in climate
HydroHash ($19.5 million valuation, SAFE): Liquid-cooled crypto mining powered by renewable energy.
RYSE ($46.5 million pre-money valuation, class B common shares): Automate your existing shades to save energy and money.
Bright Sun Community Solar (debt note, 8% interest): Fund operations of 116 kWdc Community Solar project.
Civilized Cycles ($12.5 million valuation, SAFE): E-bikes for people who drive.
New climate investing/finance podcasts
MCJ’s Capital Series: Will Tickle, Ballentine Partners
Financial Climate w/ Alex Roth: Ulf Erlandsson, AFII
Invested in Climate: Pearl & Clean Energy Ventures
👇 see you in the comments section👇
What’re you investing in this week? Which Twitter accounts should we add to our list? Let the community know below.
Have a good climate investment article, podcast, or other resources to share? Reply here :)
Any new investments on your radar? Reply here!