Key Takeaways
- • Convective Capital closed an $85 million fund dedicated to wildfire technology and disaster resilience solutions, building on its earlier $35 million inaugural fund focused on the wildfire crisis.
- • The firm has established Updraft, a 10,000+ person resilience network that has generated over $100 million in revenue for portfolio companies, demonstrating traction in connecting entrepreneurs with stakeholders across the disaster resilience ecosystem.
- • Founded by Bill Clerico, Convective Capital invests across the full wildfire lifecycle—from prevention and risk mitigation through detection, tracking, and suppression—addressing a market gap where most institutional investors have historically avoided disaster resilience exposure.
- • The fund targets an underserved but critical market: disaster resilience represents an existential challenge facing municipalities, states, and federal agencies, with significant federal funding mechanisms (including the BRIC Grant program) available to support solutions.
- • Convective Capital's leadership team includes entrepreneurs with operational expertise in scaling companies and navigating regulated industries, positioning the firm to support founders building solutions that integrate technology with policy advocacy.
Summary
Convective Capital has secured $85 million for its second fund, advancing its thesis that venture capital and entrepreneurship can address the growing wildfire and broader disaster resilience crisis. The firm, founded by Bill Clerico, initially launched with $35 million to invest in wildfire technology startups. This latest fund raise underscores institutional recognition that disaster resilience represents both a critical market gap and a significant investment opportunity.
The firm's investment strategy spans the entire wildfire management cycle, from prevention and risk mitigation to real-time detection, tracking, and suppression technologies. According to the firm's own positioning, most traditional investors have historically shied away from disaster resilience markets despite their scale and existential importance. Convective Capital has differentiated itself by building infrastructure—specifically the Updraft network of 10,000+ participants including entrepreneurs, government agencies, insurers, and policy stakeholders—to reduce friction between capital and solutions. The Updraft network has already generated over $100 million in cumulative revenue for portfolio companies, indicating material market validation.
Beyond venture investment, Convective Capital's leadership is actively engaged in policy and advocacy. Bill Clerico chairs AFI, an organization advocating for improved wildfire policy, and founded Red Sky Summit. The firm also highlights federal funding mechanisms such as the BRIC Grant program, which makes federal capital available to municipalities and states for resilience infrastructure. This institutional capital—combined with private venture funding—creates a favorable capital environment for entrepreneurs building solutions to contain and mitigate wildfire risk. The $85 million fund raise reflects investor conviction that technological innovation, when paired with regulatory insight and stakeholder networks, can meaningfully address one of the nation's most pressing infrastructure challenges.
The firm's investment strategy spans the entire wildfire management cycle, from prevention and risk mitigation to real-time detection, tracking, and suppression technologies. According to the firm's own positioning, most traditional investors have historically shied away from disaster resilience markets despite their scale and existential importance. Convective Capital has differentiated itself by building infrastructure—specifically the Updraft network of 10,000+ participants including entrepreneurs, government agencies, insurers, and policy stakeholders—to reduce friction between capital and solutions. The Updraft network has already generated over $100 million in cumulative revenue for portfolio companies, indicating material market validation.
Beyond venture investment, Convective Capital's leadership is actively engaged in policy and advocacy. Bill Clerico chairs AFI, an organization advocating for improved wildfire policy, and founded Red Sky Summit. The firm also highlights federal funding mechanisms such as the BRIC Grant program, which makes federal capital available to municipalities and states for resilience infrastructure. This institutional capital—combined with private venture funding—creates a favorable capital environment for entrepreneurs building solutions to contain and mitigate wildfire risk. The $85 million fund raise reflects investor conviction that technological innovation, when paired with regulatory insight and stakeholder networks, can meaningfully address one of the nation's most pressing infrastructure challenges.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.