Key Takeaways
- • WovenEarth Ventures closed its second cleantech fund at $155 million on May 29, 2026, bringing total assets under management to approximately $330 million across both funds.
- • Fund II deploys a fund-of-funds strategy providing institutional investors exposure to 250+ early-stage cleantech companies across energy, industrial, and resilience sectors, including geothermal energy, battery storage, and critical minerals.
- • Limited partners include Pennsylvania State University, Glenmede, Mortenson Family Foundation, MA Mortenson Company, JM Huber Corp., and multiple family offices and foundations, reflecting institutional and family office demand for cleantech exposure.
- • WovenEarth has already deployed capital across seven underlying funds and made 20 co-investments alongside general partners, with the first fund ($152 million) establishing a portfolio including water-focused Burnt Island Ventures and regenerative food-focused Trailhead Ventures.
- • The firm positions the investment thesis around "Cleantech 2.0" innovation addressing AI-driven electricity demand, supply chain domestication, and climate resilience amid extreme weather cost escalation.
Summary
WovenEarth Ventures, a Palo Alto-based firm led by Jane Woodward, has completed the final close of its second cleantech fund of funds at $155 million, expanding its institutional investment platform in early-stage climate technology. The final close occurred on May 29, 2026, bringing the firm's total assets under management to over $330 million following the successful deployment of its debut fund.
The second fund pursues a diversified fund-of-funds strategy designed to provide limited partners with exposure to over 250 early-stage cleantech companies across multiple sectors including geothermal energy, battery storage, critical minerals extraction, and other "Cleantech 2.0" ventures. The fund reserves approximately one-third of capital for direct co-investments alongside portfolio fund managers, allowing WovenEarth to participate selectively in high-conviction opportunities while maintaining broad portfolio exposure. To date, the firm has already committed capital to seven underlying funds and executed 20 co-investments, demonstrating active deployment capacity.
The institutional investor base reflects significant demand from diversified sources. Limited partners include Pennsylvania State University, asset manager Glenmede, the Mortenson Family Foundation, manufacturing company MA Mortenson Company, materials conglomerate JM Huber Corp., and numerous family offices and philanthropic foundations. This composition suggests confidence from both academic endowments and family offices in WovenEarth's investment thesis.
WovenEarth's investment rationale centers on addressing structural economic shifts. According to founder Jane Woodward, the sector faces "a massive innovation wave" with capacity to "boost profits and reduce risk in key areas such as AI-driven electricity demand, domesticating supply chains, and the rising cost of extreme weather." The first fund's $152 million portfolio includes established early-stage managers such as water infrastructure-focused Burnt Island Ventures and regenerative agriculture-focused Trailhead Ventures, establishing track record and manager relationships that informed Fund II's construction.
The second fund pursues a diversified fund-of-funds strategy designed to provide limited partners with exposure to over 250 early-stage cleantech companies across multiple sectors including geothermal energy, battery storage, critical minerals extraction, and other "Cleantech 2.0" ventures. The fund reserves approximately one-third of capital for direct co-investments alongside portfolio fund managers, allowing WovenEarth to participate selectively in high-conviction opportunities while maintaining broad portfolio exposure. To date, the firm has already committed capital to seven underlying funds and executed 20 co-investments, demonstrating active deployment capacity.
The institutional investor base reflects significant demand from diversified sources. Limited partners include Pennsylvania State University, asset manager Glenmede, the Mortenson Family Foundation, manufacturing company MA Mortenson Company, materials conglomerate JM Huber Corp., and numerous family offices and philanthropic foundations. This composition suggests confidence from both academic endowments and family offices in WovenEarth's investment thesis.
WovenEarth's investment rationale centers on addressing structural economic shifts. According to founder Jane Woodward, the sector faces "a massive innovation wave" with capacity to "boost profits and reduce risk in key areas such as AI-driven electricity demand, domesticating supply chains, and the rising cost of extreme weather." The first fund's $152 million portfolio includes established early-stage managers such as water infrastructure-focused Burnt Island Ventures and regenerative agriculture-focused Trailhead Ventures, establishing track record and manager relationships that informed Fund II's construction.
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