ClimateTech (CT Fund)

Understanding the
ClimateTech Fund

Connecticut Innovations has launched a $100 million ClimateTech Fund (CT Fund). Through the CT Fund, CI’s team will invest in innovative early-stage companies focused on energy, transportation/mobility, food/agriculture, water, climate-related software, waste/circular economy, advanced materials/manufacturing, carbon removal/sequestration and more. The Fund offers investments of $150,000 to $2 million per company in a given financing round, plus ongoing strategic support and $5–7 million available on reserve for follow-on investment. The Fund will also invest in venture funds that are headquartered in Connecticut.

Snapshot of Common Characteristics

The CT Fund will invest in 15–25 companies over the fund’s 10- to 15-year life. Companies may either be headquartered in Connecticut or have a plan to grow jobs in the state. Companies outside of the US that are interested in expanding to the US are also encouraged to apply.

Other criteria for investment include:

Company stage

The fund will consider early- and late-stage deals, including proof of concept stage, seed, series A and series B/C, in addition to fund of funds opportunities.

Capital raised

Co-investment is required to receive an investment from this fund.

Focus on innovation

CI prioritizes companies that are developing a technology that is difficult to copy due to patents, a unique design, or an innovative go-to-market strategy.

Primary location

To be considered for the fund, companies must have the majority of employees in Connecticut or be creating jobs here. International companies and venture capital funds must agree to establish their US headquarters in Connecticut.

Funding amount

$150,000 to $2 million annually per company in 15–25 companies.

Konstantine Drakonakis, Venture Partner

Konstantine is a venture partner for Connecticut Innovations, focusing on climate and adaption technology ventures. He has been a venture capitalist and entrepreneur for the past 16 years, focusing on climate and deep tech ventures. Prior to private equity, he was a professional environmental engineer, working on ecosystem restoration and civil works projects.

“One of our many advantages is that we’re a one-phone-call state. We have leading academic institutions, high-caliber materials sciences engineers and public health experts, and an industrial military manufacturing base of companies with the assets and expertise to partner with and help build and commercialize climate and clean technologies. We can get answers quickly and have become highly efficient in helping companies grow and scale.”

Konstantine is a partner with the Pritzker Vlock Family Office, where he was a founding member of LaunchCapital, the firm’s early-stage-focused venture firm. He developed a portfolio of 38 companies, representing over 100 transactions and more than $750 million in syndication. Konstantine has also been a founder and operator of four tech companies: 6K, Katharos, PlazMod and PCTRx. He is a board member/director at 6K (founding executive chairman and former CSO), EpiEP, Biorez, TearSolutions and Iridia. Konstantine is also an active member in the university entrepreneurial ecosystem, where he is a lecturer, mentor and adviser to students and faculty ventures at UConn and Yale University.

Konstantine has a BSCE from the University of Vermont and a master’s in environmental management from the Yale School of Forestry and Environmental Studies, where he focused on closed-loop economy systems and markets. He is a licensed professional engineer in the state of Connecticut.

If you are interested in having CI review your pitch deck/business plan, please fill out the form.

ClimateTech Pitch Deck/Business Plan Upload

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Tamyra Davis