Participated · Series A · Feb 2025

Cambium operates a supply‑chain technology platform that connects tree care services, sawmills, manufacturers, and logistics to transform salvaged wood into Carbon Smart™ Wood products, millwork, and now mass timber. The company digitizes and streamlines the traditionally fragmented wood industry with chain‑of‑custody tracking, inventory and logistics tools, POS, e‑commerce, and AI/LLM‑driven efficiency solutions. Cambium is manufacturing cross‑laminated timber (CLT) from salvaged wood through partnerships with CLT producers and is expanding mass timber offerings to substitute steel and concrete in buildings. It has moved over 8 million board feet of wood, sequestered more than 10,000 tonnes of CO2e, and built a network of 350+ tree care companies, sawmills, and trucking partners. Recent strategy includes scaling distribution of Carbon Smart™ Wood, broadening logistics via the Mill Market acquisition (July 2024), and pursuing additional M&A to bolster supply‑chain infrastructure. The company intends to use new capital to deploy AI across the $788B wood products industry, grow the team, and scale operations to meet rising demand for traceable, low‑carbon building materials. Cambium Carbon operates Traece, a SaaS platform that connects trees to local sawyers and millers to turn them into durable products that store carbon and fund community tree planting. The platform enables a supplier network through which real estate developers, tech companies, and furniture manufacturers purchase Carbon‑Smart Wood. Traece has moved $3.7M of wood to date. The company raised $3.2M in seed funding to scale operations. Cambium plans to use the funds to grow its team, expand platform user‑ship, divert 2,500 tons of wood waste, and plant 10,000 high‑impact trees in partnership with communities. It was founded by Ben Christensen, Marisa Repka and Theo Hooker.

Participated · Series A · Feb 2024

Camus Energy provides a grid orchestration platform that gives utilities real-time visibility, day-ahead forecasting, grid-aware control of local energy resources, and distribution system planning insights. The platform enables operators and planners to harness latent flexibility in electrified devices—EVs, batteries, solar inverters, and smart thermostats—to avoid costly equipment upgrades and improve reliability. Leading utilities including Duquesne Light Company, Vermont Electric Cooperative, Kit Carson Electric Cooperative, and La Plata Electric Association use the software to manage electrification impacts. Camus leverages experience designing and scaling distributed computing systems at Google, Amazon, and Meta to analyze billions of data points and shift utilities from model-reliant to data-driven grid management. Since mid-2021 the company reports a 500% increase in annual recurring revenue, expansion to customers serving 2.9 million end consumers across nine states, and a doubling of headcount. Camus plans to use new investment to expand its customer base, continue product R&D, and further develop its partner ecosystem to help utilities harness local energy resources. Camus Energy offers a grid management software platform that provides connectivity between utilities' operations teams, grid-connected equipment, and customer devices, from substations and transformers to rooftop solar and smart water heaters. The platform lets grid operators orchestrate utility- and consumer-owned resources from a unified interface to support reliability, resilience, and compensation for local resource owners. The founding team spent nearly two decades at Google and brought a distributed systems approach and systems engineering design philosophy to the product. Camus serves a growing base of close to half a million utility customers across the U.S. West and has deployment success with electric cooperatives such as Holy Cross Energy and Kit Carson Electric Cooperative. Financially, the company raised a $16M Series A in July 2021 to expand its platform. Camus intends to use the capital to scale its grid management software to meet growing demand from utilities across North America and to help utilities integrate local clean energy, manage peak demand, and advance decarbonization goals.

Participated · Seed · Feb 2023

Michroma uses precision fermentation and filamentous fungi as “biofactories” to produce natural food colorants and, later, plant-based flavorings. Its first product, Red+, is a red colorant engineered to be temperature-resistant and stable across the food pH spectrum, surviving pasteurization, cooking and extrusion. Red+ has been prototyped with large food companies and can also be used to color cultivated meat. The company plans to expand its palette from warm colors (orange, yellow) toward blue and white while selling flavorings in combination with its colors. Michroma is negotiating with suppliers and intends to submit petitions to the U.S. FDA and the European Food Safety Authority; the regulatory process is expected to take at least two years. The startup currently has about 15 employees and plans to grow to 35, funded in part by recent seed financing that brought its total venture capital to $7.4M. Michroma develops sustainable, vegan, fungus-based natural colorants intended to replace synthetic petroleum-derived dyes and insect-derived cochineal (red 80). Founded in early 2019 in Argentina, the startup moved to San Francisco in September and is participating in IndieBio's accelerator. Its platform uses a GRAS fungal strain grown in bioreactors to produce intense, stable red, orange, and yellow pigments while reducing water use and carbon footprint compared with crop-derived colorants. The company argues vegetable-based alternatives like beetroot extract underperform on pH and temperature stability and impart flavor, making them difficult for industry use. Michroma says it already can effectively produce red, orange and yellow and is working to optimize and scale production while developing green and blue variants. Financially, Michroma has received early backing and plans further fundraising to accelerate scale-up.

Participated · Series A · Sep 2022

Circuit provides short-trip, electric shuttle solutions and a proprietary tech platform that runs microtransit services for cities, properties and businesses. The company focuses on reducing congestion and emissions while improving access and rider experience through on-demand, tech-driven routing and operations. Circuit operates in over 40 cities and has delivered more than 9 million eco-friendly rides, moving over 1.9 million passengers in the past year and avoiding more than 1,050 metric tons of GHG emissions. In 2024 it expanded into markets including Orlando, Avalon, Boca Raton and Long Beach while growing programs in San Diego, New York, West Palm Beach, Fort Lauderdale and Huntington Beach. The company plans to use new capital to expand partnerships, enhance its proprietary technology, shorten rider wait times, add new features, and create opportunities for advertising partners. Circuit partners with municipalities, developers and advertisers to deliver turnkey, scalable last-mile transit solutions tailored to urban and property needs. Circuit is a New York-based provider of an on-demand electric shuttle service and micro-transit solution founded and led by James Mirras and Alex Esposito in 2011. The company uses fleets of cars and partnerships with municipalities, developers, and advertising partners to fulfill first/last-mile needs. Circuit operates in cities across NY, FL, CA, NJ, CO, MA, and TX and has provided over 6 million rides. The business raised $11M in a Series A round to scale operations. Proceeds are intended to grow the team, enhance the company’s technology, and expand into more markets. The company began as a pet project in its founders' hometown and has since expanded to multiple U.S. states.

Participated · Series A · Jul 2022

Great Wrap makes fully compostable machine pallet wrap (and previously sold a consumer compostable cling wrap) certified by the Australasian Bioplastics Association. Its wrap is made from compostable biopolymers and plant-based oils, delivers up to 250% pre-stretch, and is denser and stronger than traditional wrap so customers can reduce thickness. The company is B‑Corp certified and has shifted focus from a consumer subscription service to B2B, targeting pallet-wrap waste in supply chains. Great Wrap recently scaled production by moving from the Mornington Peninsula to a larger facility in Tullamarine after a prior funding round. It has partnered with Opal ANZ to add its compostable pallet wrap to Opal Packaging Plus and to leverage Opal’s distribution. The business aims to produce 5,000 tonnes of certified compostable machine pallet wrap as part of efforts to divert traditional plastic from landfills. Great Wrap produces a range of compostable stretch wraps — Cling Wrap, Catering Wrap and Pallet Wrap — made from potato processing waste and a PHA biopolymer. The company first commercialised its wrap in 2020 and moved into its first facility in 2021. After closing a $24 million funding package, Great Wrap expanded into a new 12,000 sqm Tullamarine facility with capacity to manufacture 30,000 tonnes of compostable stretch wrap by the end of 2023. Phase two plans include commissioning an on-site biorefinery to produce PHA from local potato waste, expected in 2023, with capacity to upcycle nearly 50,000 tonnes of waste annually. The expansion is expected to create about 100 jobs in Victoria. Great Wrap is pursuing vertical integration to source local waste from a major potato processor and is working on collection solutions with Australian industrial composting facilities for pallet wrap end-of-life. Co-founders Jordy and Julia Kay say the equity raise will support product growth, team expansion, R&D and international market launches.