MassMutual Ventures (MMV) has launched Climate Technology Fund II, a $150m venture capital fund that will invest in early-stage companies using climate technology and artificial intelligence to improve real assets, including energy infrastructure, real estate, and natural resources.
The fund will back North America-based companies developing physical and digital technologies that help owners and operators of real assets improve performance, reduce costs, and manage risk. It will focus on the intersection of several long-term trends: rising demand for clean and reliable energy, increasing physical and operational risk across real assets, and the growing adoption of industry-specific AI applications.
CTF II builds on the foundation established by MMV’s first Climate Technology Fund, launched in 2023, which has invested in 16 companies focused on clean power, energy systems, digital infrastructure, and climate adaptation. With the launch of the second fund, MMV has now committed a total of $300m to climate technology.
Timothy Krysiek, managing partner of MassMutual Ventures Climate Technology Fund, set out the rationale.
“Surging power demand, unprecedented infrastructure investment, and rising physical climate risk are creating massive opportunities for entrepreneurs applying technology to real assets. Startups improving how energy-related infrastructure is developed, financed, operated, and protected will benefit from powerful macro tailwinds. But the path to commercialization requires deep sector expertise, connections to asset owners and operators, and customized capital solutions. We designed CTF to support founders applying climate technology and AI to improve the efficiency, resilience, value, and sustainability of real assets,” said Krysiek.
Doug Russell, head of MassMutual Ventures, said the fund was built for the next phase of climate investing.
“Climate investing is evolving from broad thematic exposure toward specialized strategies that understand where technology creates tangible value in large, complex industries. CTF II is designed for that next phase. The fund brings together deep climate and energy sector expertise, a disciplined investment process, and a connection to MassMutual’s unique set of assets and capabilities. We believe that combination provides CTF II with a differentiated platform to support founders building the next generation of leading climate tech companies,” said Russell.
