Mike Cannon-Brookes' Grok Ventures leads the family office charge into climate tech
Grok has announced it will only focus on climate-related investments that support decarbonisation of the planet and achieving net zero.
Unlike most other sectors in the startup ecosystem that are traditionally funded by VC, climate tech has seen huge investment from a less public corner of the ecosystem — family offices.
On Friday, one of Australia’s most high-profile family offices, Mike Cannon-Brookes' Grok Ventures, threw a spotlight on the trend, announcing it will only focus on climate-related investments going forward. It has appointed Tan Kueh as new CEO to oversee investments in startups that support decarbonisation of the planet and achieving net zero as quickly as possible.
Grok’s investment thesis is that decarbonisation is “one of the greatest economic opportunities of our time”, given the global funding gaps in climate technology.
“We have huge goals, so Grok will be committing more capital to grow our portfolio and over time we’ll be looking to partner with others to scale our climate investment opportunities,” says Cannon-Brookes.
