New York-based venture firm Muus Capital Partners secured $50M in capital commitments towards its Convergence Fund II.
The firm will invest in 25 early-stage climate startups.
This is Muus's first fund to get funds from outside limited partners.
- Muus has already backed nine startups with the funds, the most notable of which are renewable power startup BrightNight, low-cost electrolysis equipment maker Aepnus, and smart heat pump manufacturer Harvest Thermal.
- Muus has earmarked capital from Fund II to make seven follow-on funding investments in Series B-stage companies.
- Fund II's predecessor fund backed 25 startups.
- Individual ticket sizes ranged from $500,000 to $1.5M.
