Buoyant Ventures 2023 Impact Report

Today, Buoyant Ventures publishes our 2023 Impact Report.

This is the third year we have collected impact metrics from our portfolio companies, following the launch of Fund I.

We are proud to support our portfolio companies, which collectively achieved the following impact in 2023:

Theory of Change

Buoyant partners with early-stage companies that can rapidly deploy and scale software and simple hardware solutions. We invest in digital solutions because we acknowledge that climate change is here -- and we must address the speed and scale required to tackle it today.

Although we invest for financial returns, we are committed to measuring climate impact across our portfolio to achieve our vision: accelerating a climate-resilient world.

Our theory of change is outlined below:

Our Approach

We first screen all deals for climate impact at the top of our pipeline funnel. No deal will move forward if it does not have the potential for significant impact.

Second, during diligence we leverage Impact Management Project’s 5 Dimensions to quantify the potential impact of each company. We also ensure each company is aligned to our target Sustainable Development Goals (SDGs).

Finally, we work with each company to identify climate impact and diversity metrics for measurement and codify these metrics in a side letter within our final investment documents. We try our best to align these metrics with GIIN’s IRIS+.

Ultimately, these metrics should tie to operational metrics of the company— as each portfolio company scales, so should its impact.

Portfolio Overview

Buoyant is the largest first-time female-owned venture firm outside of the coasts.

To date, we have deployed or reserved over half the fund into 13 investments, including the following companies which reported their impact in 2023:

• Audette: Decarbonization software for commercial real estate
• Beni: Software to streamline secondhand clothing shopping
• ElectroTempo: Software to help site EV charging infrastructure for fleet vehicles
• FloodFlash: Parametric flood insurance
• Raptor Maps: Optimization software for solar
• ReelData: Software to optimize land-based aquaculture production
• Shifted Energy: Demand response software for residential energy load

2023 Impact Report

Since developing our impact management strategy and toolkit in 2021, the Buoyant Impact Report captures our learnings in institutionalizing impact measurement within the firm.

More Data = More Insights

We are excited to track the impact over time.

We believe that more data will enhance our insights, making them more meaningful and aiding our understanding of climate impact at early-stage companies.

If you are interested in viewing the full report, please click here.