The $450 million Kiko Ventures became the first evergreen climate fund when it launched in June 2022, said Founding Partner Arne Morteani.When IP Group launched Kiko Ventures, it said it plans to invest $240 million in climate tech startups over the next five years.Learn about:focus areas of the fundbenefits of evergreen fund structure vs VC fundslubrication-as-a-servicea triple whammy for a climate tech investorIn the NatureBacked podcast of Single.Earth, we are talking with investors about the vision of the new green world.**A few key takeaways from Arne Morteani::**There's lots of stuff that needs to happen, from carbon capture to next-generation solar, you name it. And all of these things need investors that are patient and can be there for the whole ride. All things equal, every entrepreneur should want full lifecycle investors that you can be with an evergreen structure. It allows you to invest without doubt of running out of time and money in the way you would be doing within the traditional fund. And without this 10-year fixed mandate investment mandate that you would have in a traditional fund, you get an enormous amount of flexibility. **We just invested in what really is rocket science as far as heat pumps go. I mean, it literally is rocket science.**Cleantech, in many ways, is much more diverse and much more generalist than the actual generalist funds. And so a strategy where you just do everything a little bit, but focusing on stage isn't a logical strategy. So we want to flip it on its head and say we're thematically focused first, and stage second.**Follow NatureBacked across platforms:Apple Podcasts | Spotify | Google PodcastsTwitter | Instagram