Vivaris Capital partners with Tesla Foundation to form Tesla Climate Capital
Vivaris Capital, LLC, a multi-strategy fund offering hybrid hedge and private equity structures, announced a strategic, joint-venture partnership with the Tesla Foundation to form Tesla Climate Capital.
Tesla Climate Capital will commercialize leading technologies in vehicle electrification, energy storage, carbon sequestration, and power generation. It will also incubate aspiring global entrepreneurs active in the technology sector.
To date, The Tesla Foundation has invested in approximately 200 game-changing businesses that it supports with a step-by-step plan that addresses how best to strategize, organize the company, and access funding. Tesla Climate Capital will work with Vivaris Capital to raise capital from industry partners, financial institutions, family offices, and individual investors and then either invest via Vivaris Capital's VICAN Fund or directly into the portfolio company. The VICAN Fund provides investors with access to institutional quality alternative investments with high-growth, high-return potential while securing their principal.
J. Christopher Mizer, President and Chief Executive Officer, Vivaris Capital: "Vivaris Capital's team is dedicated to changing the world by investing in new ideas, innovation, and people. Our vision for the future is based on actionable strategies that make the planet a better place for all mankind, which makes The Tesla Foundation an ideal partner and is why our VICAN Fund investments include areas such as climate tech and life sciences."
In addition to quarterbacking the capital raising process, Vivaris Capital's management team will support Tesla Climate Capital's portfolio companies as advisors providing high-level leadership capabilities. The VICAN Fund is led by President and Chief Executive Officer J. Christopher Mizer, a 25-year veteran of the alternative investment industry who founded Vivaris Capital in 1998 to invest in and acquire middle-market businesses in a broad range of industries that are leaders in their market niches. He is supported by an eight-member team that includes leading physicians, environmental and climate technology experts, alternative investment professionals, and global finance and business specialists.
Wilhelm Cashen, Chairman, Tesla Foundation: "The Tesla Foundation is working hard to introduce actionable strategies that rely on leading edge innovation and technology to make a difference. Vivaris Capital stands out as company that shares our long-term vision and we're working together to making great things happen – both for investors and our world more broadly."