B Capital, a global multi-stage investment firm, has on Thursday announced two appointments to further expand its climate investment platform.

B Capital said in a statement that Rich Lesser, Global Chair and Former Chief Executive Officer of Boston Consulting Group (BCG), has joined the firm as Vice Chair, Climate and Sustainability and Senior Advisor, to help drive the firm’s strategic direction in climate and sustainability.

He will continue in his role at BCG and strengthen the links between the two firms in this critical area.

Additionally, Jeff Johnson has joined as General Partner to lead the firm’s growing climate investment team with nearly 25 years of experience in sustainable technology.

“Lesser has been an advisor to the B Capital leadership team since our launch, and we’re excited for him to join us in a more formal role,

“He has an unmatched reputation for climate and sustainability leadership, including serving as Chief Advisor to the World Economic Forum’s Alliance of Chief Executive Officer Climate Leaders and building out the practice area at BCG,” said Raj Ganguly, Co-founder and Co-Chief Executive Officer at B Capital.

Eduardo Saverin, Co-founder and Co-Chief Executive Officer of B Capital, added that as more businesses integrate climate into their strategies, Lesser’s strategic direction and Johnson’s investment leadership will help them partner with and back the industry’s leading climate entrepreneurs.

“We are particularly excited that like many of us here at B Capital, Jeff brings deep experience as an investor and entrepreneur in scaling growth companies,” he said.

With an estimated $5 trillion in annual investment needed by 2030 to reach international net zero targets, combating climate change will require significant resources and innovation across industries, according to the statement.

B Capital said its climate platform seeks to leverage its global footprint – and strategic partnership with BCG – to invest in and support growth businesses that are working to achieve those net zero targets.

“I have known the B Capital team since inception and have seen firsthand how they create value for companies and investors,

“I believe innovation is key to decarbonizing the economy and am thrilled to join a best-in-class organization that shares my passion for sustainability,” Lesser said.

“I look forward to working with Raj, Jeff and the entire team in this expanded role to help shape and support B Capital’s strategic ambitions in climate and sustainability and further leverage the value-added capabilities that B
Capital, with BCG consulting support, can provide,

“Combating climate change requires big ideas, complex solutions and an exceptional ability to execute,” he added.

Meanwhile, Johnson said that with its comprehensive global platform, unique corporate network and value-add approach, B Capital is positioned as the partner of choice for climate entrepreneurs.

“At a time when advancement in the industry is needed urgently, I am excited to join B Capital’s climate team and help proven businesses scale their commercial performance and long-term climate impact,” he added.

According to the statement, Johnson and Lesser’s appointments follow the addition of Don Wood as a Venture Partner focused on climate in May 2023.

They will join Karan Mohla, a General Partner on B Capital’s Asia team, and Karly Wentz, Climate Senior Principal, to further build out the team.

The firm has made several recent climate investments, including Patch Technologies, a platform offering a suite of application programming interface (APIs) and developer tools to connect buyers and sellers of carbon credits, and Accacia, a provider of AI-enabled decarbonization solutions to the real estate industry.

With more than $6 billion in assets under management across multiple funds, the firm focuses on seed to late-stage venture growth investments, primarily in the technology, healthcare and climate sectors.

Founded in 2015, B Capital leverages an integrated team across nine locations in the United States and Asia, as well as a strategic partnership with BCG, to provide the value-added support entrepreneurs need to scale fast and efficiently, expand into new markets and build exceptional companies.

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