Valo Ventures said it raised a $175 million first venture-capital fund to invest in companies using digital and cloud technologies to address social, economic, and environmental challenges and trends.
The Palo Alto firm will invest in Series A, B and C rounds in North America and Europe. Among its identified themes are climate change, autonomy, mobility and urbanization.
Valo is led by partners Scott Tierney, Mona ElNaggar and Julia Brady. Tierney spent seven years at Google, where he was a co-founder of CapitalG, formerly Google Capital.
Valo’s anchor limited partner is Finland-based Fortum. It has made investments in Atollogy, PlanetIQ, and Landit.
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