As unbelievable as it sounds, it's true. Retail investors stand to make higher profits than Bill Gates in his latest finding. Gates recently funded building construction startup Vantem Global in a series A funding. Vantem Global is at the forefront of providing affordable housing and materials at net zero carbon emissions.
Such homes can be expensive to own and manage. Vantem Global employs modular technology in construction to make it affordable. It uses up the same amount of energy as it generates, in part by using thermal insulators to regulate building temperatures. Building this way makes it easier and faster to construct houses than conventional building methods.
Every startup needs capital to survive. Without adequate funding, great ideas are just castles in the air.
The modular technology sector has been acquiring recognition from prospective investors. Its recent top investors are Transformative Energy and Materials Capital (TEM Capital) and Gates’ Breakthrough Energy Ventures. In the current funding round, it raised over $10 million with Gates as the leading investor.
“Construction in this sector has seen the least amount of innovation and productivity gains and is one of the greatest direct and indirect sources of carbon emissions. At the same time, affordable housing is a global need that must be addressed, but if we build with traditional methods, we will solve one problem only to worsen another. At Vantem, we are committed to addressing both challenges on a global scale,” said Chris Anderson, CEO, Vantem Global.
The series A funding from Breakthrough Energy occurred in tandem with Elon Musk’s startup, Boxabl. In 2019, Vantem acquired $10 million from retail investors. The startup kept things private over its recent funding in the concluded series A. The average Reg A size invested by Breakthrough Energy is $3 million. Using a general evaluation, the total investment by Breakthrough Energy ranges from $40 to $100 million.
Because of Gates’ massive investment, private investors are in luck. Retail investors could end up with three times their initial investment because Gates’ investment indirectly backs them.
This development is a medium for equal wealth distribution and a turning point for Vantem Global and other building construction startups. Vantem has factories in the Caribbean, Brazil, Uruguay, Chile, Colombia and Bolivia. In the next few years, it will build factories in 15 states in the U.S.
Bill Gates’ VC Investments In Breakthrough Energy Ventures
In 2016, Bill Gates inaugurated a billion-dollar fund, Breakthrough Energy Ventures. The company's primary goal is to reduce the emission of dangerous carbon gases and their derivatives. It was created to finance startups to support clean technologies around the world.
The company's ambitions are in sync with the Oil and Gas Climate Initiative (OGCI). It also funds projects to provide cleaner technology and increase environmental and social impact. Over the years, it has partnered with numerous high-end, energy-driven companies like TotalEnergies, Terabase Energy, Blue Frontier and ReMo Energy, among others.
In 2019, Breakthrough Energy Ventures-Europe was launched. It is a €100 million investment fund assisting innovative energy companies in Europe to increase market output in Europe.
In an interview, Gates said, “Breakthrough Energy Ventures-Europe is a great example of driving innovative ways for private and public sectors to collaborate, deploy capital and build companies. We have the resources to make a meaningful difference and the flexibility to move quickly. That's a rare and powerful combination.”
In 2016, Gates, alongside Jeff Bezos and fifteen others, invested $1 billion in a cleantech fund. The deal aimed to support any stage of tech ventures from seed to sprout levels. The fund will help limit greenhouse gases and provide better access to fresh produce.
Since its inception in 2016, Breakthrough has gone through four funding processes, raising $2.2 billion.
Funding a Healthier Environment
Breakthrough Energy Ventures is helping energy startups acquire relevant resources and funding to compete on the global stage. It puts its money where its mouth is to positively impact the environment and the people who live in it.
Read next: Top Startups to Invest in for September 2022
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Enter your email address to be the first to know about new offerings for real estate, startups and other alternative investments with strong potential returns.