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Tech leaders to establish $1bn venture capital fund to support energy companies

14 Dec 2016
Bill Gates and other technology industry leaders have set up a $1 billion venture fund to invest in companies that are developing cutting-edge energy technologies.

The Breakthrough Energy Ventures fund has received considerable support from investors such as Amazon CEO Jeff Bezos, Virgin Group founder Richard Branson, LinkedIn co-founder Reid Hoffman and many others. 

Gates, who will serve as the fund’s chairman, said in a statement, “I am honored to work along with these investors to build on the powerful foundation of public investment in basic research. Our goal is to build companies that will help deliver the next generation of reliable, affordable, and emissions-free energy to the world.”

A small group of industry leaders is separately scheduled to meet with President-elect Trump in New York City later this week. Bezos has reportedly been invited, but it’s not clear if Gates or other members of the Breakthrough Energy group will be in attendance.

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