Convective Capital raises $85M fund for disaster resilience tech
Original: Convective Capital raises an $85 million fund to build disaster resilience
Why This Matters
Growing disaster frequency creates massive market opportunity for resilience tech solutions
Convective Capital raised an $85 million fund to invest in disaster resilience technology, expanding beyond wildfire prevention to broader physical risk management. The fund follows a $35 million fund raised in 2022.
Convective Capital, led by WePay co-founder Bill Clerico, announced an $85 million fund focused on disaster resilience technology. The fund expands the firm's mandate beyond 'firetech' to provide risk management solutions for physical world disasters. Clerico noted '$60 trillion of real estate at high risk from disasters' and the U.S. spends 'a trillion dollars a year mitigating and recovering from disasters.' The first fund backed companies earning $100 million in revenue worth $2 billion collectively, with 79% graduating from seed to Series A. Initial investments include The Lumber Manufactory for forest management, Drafted for AI home design, Voltaire for power line inspection drones, and Edge Technologies for commodity price insurance.