Skip to content

    Partner to Small Businesses Making Big Impact

    SMB Climate

    We invest in profitable businesses that drive climate impact and top-tier financial returns. These are the unsung heroes of climate who are on the front lines implementing climate technology available today.

    Climate Focused

    We have most of the climate technology needed to attain our global goal of reaching net zero carbon emissions by 2050. Yet, small to medium-sized businesses that are rolling up their sleeves and doing the hard work to implement these technologies, are often underappreciated and underfunded. We are channeling our deep climate experience and unwavering passion for solving the climate crisis to invest in these doers across the climate spectrum, with a focus on the three segments where small to medium-sized businesses have outsized impact and our team has relevant experience:

    Distributed Energy

    We invest across the solar, wind, and geothermal value chains from the engineers designing systems to those integrating and maintaining them, and everything in between.

    Building Electrification

    Buildings represent a third of global carbon emissions. We invest in companies that are making our homes and commercial buildings more efficient and fossil fuel-free.

    Waste to Value

    Waste that historically was landfilled is the new gold. We invest in the alchemists that turn used cooking oil into jet fuel, saw dust into heating fuel, and broken consumer electronics into devices loved once again.

    Investment Criteria

    ✅Track record delighting customers

    ✅Sustainable competitive advantage

    ✅Servant leaders

    ✅Meaningful climate-related revenue 

    ✅EBITDA $2M to $10M when we lead as a GP

    ✅EBITDA $500K to $2M when we serve as a LP

    ✅Headquartered in US and Canada (preference for West Coast)

     

    trees

    Investing Principles

    Founder First

    We admire founders who took risks and made sacrifices to build enduring companies. We strive to protect and honor their legacy.

    Do Well by Doing Good

    We invest in segments that deliver top-tier financial returns AND climate impact. Impact and financial returns need not be mutually exclusive.

    Stakeholder Obsession

    We love our shareholders, but obsess over all stakeholders including our customers, suppliers, community, and employees.

    Add Value

    We only invest in companies we can add immediate value through our experience, capabilities, and network. We do not do financial engineering.

    Move Fast

    We aim to understand all aspects of a business as quickly as possible to reduce the burden on the seller and company.

    Build to Last

    We don't take short-term measures and flip companies. We prefer sustained growth compounded over years, if not decades.

    047A0221

    Nick Cravalho - Founder

    Prior to founding SMB Climate in 2023, Nick was an investor and portfolio manager for Amazon's $2B Climate Pledge Fund where he invested in companies such as Redwood Materials (battery recycling), CarbonCure (low-carbon concrete), Infinium (low-carbon fuel), and other Climate Tech companies. Previously, he was the global GM for Amazon Renewed (circular economy), helped launched Amazon Home Services, and was a VP at two VC-backed solar startups. Nick received his Masters in Management from MIT and a Bachelors in Engineering from UC Berkeley, and currently resides outside of Seattle with his wife and two kids.

    Advisors

    John Cavalier Square

    John Cavalier

    CEO at Climate Real Impact Solutions, Former Managing Partner at Hudson Clean Energy

    Andy Dale

    Andy Dale

    Managing Partner at Montlake Capital

    Dan Gross

    Daniel Gross

    Director at Amazon's Climate Pledge Fund, Lecturer at Yale University

    Brian M

    Brian McGuigan

    CEO at Laird Norton Company

    Advisors

    John Cavalier Square

    John Cavalier

    CEO at Climate Real Impact Solutions, Former Managing Partner at Hudson Clean Energy

    Andy Dale

    Andy Dale

    Managing Partner at Montlake Capital

    Dan Gross

    Daniel Gross

    Director at Amazon's Climate Pledge Fund, Lecturer at Yale University

    Brian M

    Brian McGuigan

    CEO at Laird Norton Company

    Todd Marker

    Todd Marker

    Managing Partner at Alpine Pacific Capital

    Steve Cook

    Steve Cook

    Executive Managing Director at LFM Capital

    Jamie Boyd

    Jamie Boyd

    Managing Director at Cascadia Capital

    Contact us

    Email

    info@smbclimate.com

    Contact Us
    forest dark