Azolla Ventures

Azolla Ventures is an impact-focused venture capital firm launched in 2021 by Prime Coalition, based in Cambridge, Massachusetts. The fund was created to address critical gaps in climate financing, targeting early-stage companies with the potential for gigaton-scale carbon dioxide reduction. Azolla manages a $239 million blended fund, combining $80 million in catalytic, philanthropic capital with $159 million in impact-aligned market-rate investment capital. This structure allows Azolla to take on riskier, high-impact projects that might be overlooked by traditional investors, offering a unique approach to funding climate solutions. Azolla's investment strategy focuses on three key criteria: significant carbon reduction potential, additionality (investing in projects unlikely to attract sufficient traditional funding), and strong commercial prospects. The firm aims to help startups scale their solutions while ensuring they maintain mission alignment and maximize climate impact. Its portfolio includes companies like Heaten (industrial heat pumps), Carbon Reform (carbon capture technology), and Funga (forest microbiome enhancement for carbon sequestration). Co-founders Amy Duffuor and Johanna Wolfson lead the team, bringing a wealth of experience in climate finance and technology. The partnership with Prime Coalition ensures rigorous impact assessment and stewardship, helping Azolla navigate the challenges of deploying capital effectively to combat climate change. Azolla's model of integrating philanthropic and commercial funding is designed to catalyze further investment and accelerate the development of scalable, sustainable technologies that can make a global impact.