Rich Lesser, global chair and former CEO of Boston Consulting Group (BCG), has joined as vice chair, climate & sustainability and senior advisor, as per a statement.
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Additionally, Jeff Johnson has joined as general partner to lead the firm’s growing climate investment team, the statement said.
They duo will join Karan Mohla, a general partner on B Capital’s Asia team, and Karly Wentz, climate senior principal, to further build out the team, the statement added.
Lesser will continue in his role at BCG and strengthen the links between the two firms in the climate tech area. “He has an unmatched reputation for climate and sustainability leadership, including serving as chief advisor to the World Economic Forum’s Alliance of CEO Climate Leaders and building out the practice area at BCG,” Raj Ganguly, co-founder and co-CEO at B Capital, said.
With an estimated $5 trillion in annual investment needed by 2030 to reach international net zero targets, combating climate change will require significant resources and innovation across industries, the statement said.
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“Combating climate change requires big ideas, complex solutions and an exceptional ability to execute. With its comprehensive global platform, unique corporate network and value-add approach, B Capital is positioned as the partner of choice for climate entrepreneurs,” Johnson said. Johnson and Lesser’s appointments follow the addition of Don Wood as a venture partner focused on climate in May 2023.
The firm’s recent climate investments include Patch Technologies, a platform offering a suite of application programming interfaces and developer tools to connect buyers and sellers of carbon credits, and Accacia, a provider of artificial intelligence-enabled decarbonisation solutions to the real estate industry.
Last month, the venture capital firm, founded by Ganguly and Eduardo Saverin, announced the close of its second Opportunities fund at $750 million. The latest Opportunities Fund II is set to make primary and secondary follow-on investments in late-stage portfolio companies across core sectors such as technology, healthcare and climate tech.
Founded in 2015, B Capital is a multi-stage global investment firm which focuses on seed- to late-stage venture growth investments. It has over $6 billion in assets under management across multiple funds.
