Evan J. Segal

Having a Cars and Capital event tomorrow in Southern California with Oren Klaff. If you want to join message me. https://lnkd.in/gDQ4D39u Oren Klaff Bridger Pennington #InvestorEvent #FamilyOffice #InvestmentOpportunity #CarlsbadEvent #PrivateEquity #WealthManagement #InvestmentConference #CapitalRaising #NetworkingEvent #IndustryLeaders #FinancialGrowth #InvestorsMeetup #WealthBuilding #BusinessGrowth #InvestmentForum

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🌟Innovative VC Firm Overcomes Exits Drought with Secondary Sales🌟 ⛵Navigating a challenging landscape where exits are scarce, Santa Barbara Venture Partners (SBVP) has pioneered a novel approach to sustain its growth and attract investors for its second fund: secondary sales. Instead of waiting for traditional exits like IPOs or acquisitions, SBVP opted to sell shares of its portfolio companies, demonstrating its ability to generate returns for investors and stand out in a competitive market. 🎤According to Dan Engel, founder and managing partner of SBVP, these secondary transactions have been a game-changer, sparking investor interest and bolstering the firm's credibility. By leveraging its recent successes, including a lucrative stake in sports-betting company DraftKings Inc.' acquisition of digital lottery app Jackpocket, SBVP seized the opportunity to return profits to its limited partners (LPs) and pave the way for its second fund. 💡Engel highlighted the challenges faced by young VC firms in raising subsequent funds, particularly amid a downturn in exit activity and heightened investor scrutiny. With traditional exit routes becoming increasingly elusive, the pressure is on for firms to demonstrate tangible returns and establish a track record of success. ✨"For us, secondary sales have been a game-changer. They've helped us return profits to our LPs and attract investors for our second fund," said Dan Engel. 💰For SBVP, the decision to pursue secondary sales was driven by the need to provide liquidity to LPs and validate its investment thesis in the eyes of prospective investors. By strategically offloading portions of its holdings in high-performing portfolio companies like Bark Technologies and Rad AI, SBVP not only generated substantial returns but also bolstered investor confidence in its ability to deliver results. ⚠Despite the complexities and potential stigma associated with early share sales, Engel emphasized the importance of prioritizing investor returns and seizing opportunities to unlock value for stakeholders. With a focus on profitability and transparency, SBVP remains committed to its mission of delivering sustainable growth and maximizing returns for its LPs. 🔍 "Returning profits to our investors is our top priority. By strategically selling shares, we're proving our commitment to delivering results and driving value for our stakeholders," added Engel. As SBVP continues to explore secondary transactions and expand its investor base, the firm stands as a testament to innovation and resilience in the face of market challenges. 🚀 ✅ Looking to raise capital for your #fund and increase the international pool of your LP #investors?   🤝 Need warm #LP introductions?   📝 Selling #secondaries to increase liquidity?   🧐 Looking for co-investments?   ▶ G+QUANT's link for inquiries and fund decks: https://lnkd.in/gjC_EuTE #VCInnovation #SecondarySalesSuccess #InvestorReturns #ValueCreation 

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New job opportunities are on the way for CA. CalRecycle is now accepting applications for $40 million in redemption innovation technology grants on top of $15 million in workforce development grants rolling out this year to build the future of recycling in California. The state will also promote workforce development in this space through the California Jobs First Council (https://lnkd.in/gXnvQJPf) The state recently released draft regulations for Governor Gavin Newsom’s “Plastic Pollution Prevention and Packaging Producer Responsibility Act” (SB 54, enacted in 2022), kicking off the formal rule-making process. “For too long, plastic polluters have passed the buck on the growing burden of plastic waste contaminating the air we breathe, the water we drink and the food we eat,” said Governor Newsom. “California is leading the way to hold producers responsible, drive sustainable innovation and green jobs, and support the most impacted communities. We have to act now, with urgency, to give our kids a future without plastic pollution.” This law requires the following by 2032: * Sell 25% less single-use plastic packaging and food ware in the state. * Make all single-use packaging and plastic food-ware recyclable or compostable. * Recycle 65% of single-use plastic packaging and food ware. See more at https://lnkd.in/gAvR3J8D

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California and the Office of California Governor Gavin Newsom officially implemented the final, revised versions the California Climate Corporate Data Accountability Act (SB 253) and Climate-Related Financial Risk Disclosure Act (SB 261) laws today for large corporations ☁️ ▪️ First Scope 1 & 2 emissions reports due in 2027 (for FY2026) ▪️ First Scope 3 reports due in 2028 (for FY2027) ▪️ First International Sustainability Standards Board (ISSB)-aligned climate risk reports also due in 2028 ▪️ S1 & S2 GHG must be assured at a “limited assurance” level, moving to a “reasonable assurance” level starting in 2030

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Read the story at KQED, “California's $10B Climate Bond Breaks Through Political Gridlock,” by Ezra David Romero—June 30, 2024. “Days before the final deadline, California lawmakers have settled on language for a $10 billion climate bond that will be presented to voters for approval in November. The primary focus of the bond is ‘to respond to challenges wrought by climate change by investing in natural and built infrastructure’... It also includes some funding for programs cut from the state’s budget. At least 40% of the bond must help vulnerable and disadvantaged communities with a median household income of less than 80% of the area average or less than 80% of the statewide median household income… The bond also sets aside $475 million for offshore wind. Earlier this year, Assemblymember Rick Chavez Zbur (D-Hollywood) pursued a $1 billion bond for offshore wind infrastructure. Still, lawmakers folded that into the larger climate bond effort, said Vienna Montague, Zbur’s communications director... Lawmakers have until July 3 to approve the bond for the November election, and Gov. Gavin Newsom must sign off on any bond measure the legislature approves with a two-thirds vote…” Read the full story below and at this link. https://lnkd.in/gjy68Dkf #offshorewind #floatingwind #cleanenergy #renewables #climate #offshorewindca #pacificoffshorewindsummit

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Yesterday, Governor Gavin Newsom gave a shoutout to BEAM Circular and the huge potential of the bioeconomy at the California Economic Summit hosted by California Forward. He highlighted the initiative's rapid progress and called out the bioeconomy as California’s next trillion-dollar industry. In a surreal moment, he referenced HawkTower’s 10-year venture commitment to this space. I participated in the rise of the app/smartphone economy in the 2010s ... this feels similar. 📲 Currently, ag by-products and the bioeconomy are turning leftover almond shells and rice straw into energy (biofuels) and converting crop residues into natural soil enhancers to grow healthier crops. Soon, we can expect biomanufacturing and bio-based innovation to produce everything from medicines to new proteins, and other high-value materials, like construction materials. We’re humbled and excited to be part of this journey. I learn something new and meet incredible, dedicated Californians every day. Thank you, Governor, for highlighting its massive potential and its nascent foundation. cc Karen Warner Ann Rogan Gloriamar Gamez Maria Olide Amanda Hughes Marian Kaanon Erick Serrato Gillian Wilson Joshua Viers Elena Chavez Quezada Egon Terplan Kate Gordon Danna Stroud Josh Metz Brenna Butler Garcia Talya Karr Lenny Mendonca Michelle Reimers John Selep Jack Marck Prentice Keller Kim Garner Daniel Emilio Sabzehzar Dr. Chris Vitelli Stephanie Dietz David Marvulli LifeSpace Labs Dipesh Lad #bioeconomy #innovation #California

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Read the story at KQED Public Radio, “Proposition 4: California Approves $10 Billion Climate Bond,” by Ezra David Romero—November 6, 2024. “Californians overwhelmingly supported Proposition 4, a $10 billion climate bond to help the state prepare and adapt for the impacts of climate change. With more than half the votes counted, nearly 58% of votes favored the bond…. Proponents of the environmental bond, including Gov. Gavin Newsom, argued over the course of the campaign that it could prevent billions of dollars in damages from extreme storms, wildfires, drought, and rising sea levels... ‘With so much at stake, we’re eager to see a positive result that enables California to lead on climate action and secure a greener, more equitable future for our communities,’ said Mike Young, senior political and organizing director with California Environmental Voters… Lawmakers ultimately crafted a measure that funds work in eight key areas: water, wildfires, coastal resilience, nature-based solutions, clean air, outdoor access, extreme heat and climate-smart working lands. The bond also sets aside $475 million for offshore wind. ‘It prioritizes and enables robust, decisive action to advance our climate goals and enhance community resilience against climate impacts,’ said state Senate Majority Leader Lena Gonzalez (D-Long Beach)…”  See the full story below and at this link. https://lnkd.in/gdjTawVG #offshorewind #floatingwind #cleanenergy #renewables #climate #offshorewindca #pacificoffshorewindsummit

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🚨 Big News for California! 🚨 For the first time in history, California has implemented permanent water restrictions for its cities and towns to tackle water conservation and resilience in our drought-stricken state. 🌊💧 Inspired by the pressing issues of water scarcity, high costs, and waste, along with our own personal frustrations with steep water bills and costly repairs from leak damages, Shawn Bonneau and I founded Namara Water Technologies, Inc. Namara puts the power of water control in your hands with our AI-powered variable flow controller. Our users cut their water usage by up to 30% without any noticeable drop in pressure, drastically reducing their water bills while conserving water for future generations. 🌱💧 Namara is all about simplicity: set it and forget it, but you can make adjustments anytime from your phone. And if a leak occurs, Namara sends an alert. For catastrophic leaks, it automatically shuts off the water to prevent major damage and costly insurance claims. 🚰🔧 In these times of rising water scarcity and uncertainty, Namara’s mission is clear: Save Every Drop. 🌍💧 Join us in making a difference, one drop at a time. #WaterConservation #Innovation #TechForGood #NamaraWaterTech #SaveEveryDrop

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Can today's governments serve as Venture Capitalists? California’s first public venture fund, led by Derrick Tang at IBank California and appointed by Governor Newsom, is challenging traditional notions of investment. This fund isn’t just about financial returns—it’s a bold step towards transformative equity in innovation, focusing on climate justice and supporting underrepresented entrepreneurs. Tune into this week’s episode of Swimming with Allocators to hear Tang discuss its dual goals: achieving financial returns while fulfilling social equity objectives. Discover how this innovative approach aims to redefine public sector involvement in the venture capital landscape, blending finance, social justice, and government policy to shape the future of investment. cc: Alexa Binns

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58 seconds of CSI - Carbon Speed Intelligence

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During our recent webinar, we fielded the most pressing questions directly from our audience on navigating California's new climate regulations. Here's a sneak peek 👀 on some of what we covered: 💡 When is CARB going to start its rulemaking process? 💡 Can we use a report from a parent company based outside the U.S.? 💡 If we do little business in California (below the revenue benchmark) but exceed the benchmark globally, are we still required to disclose? 💡 Would a private equity firm be in scope for SB 261 if it doesn’t have an office in California but has investors in the state? 💡 What are your thoughts on this being implemented in other states, such as New York or Illinois? 💡 What penalties or fines are in place for non-compliance? Want to hear more? Watch the on-demand recording: https://prsfn.ai/4f638nW

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Our third report "Under Pressure: The Pacific Northwest's Climate Tech Ecosystem" is now live! 🌿 💫 In this white paper, we put the region under a microscope to examine the existing resources currently available to entrepreneurs, the overall trends in the climate tech/clean energy business support ecosystem, and the obstacles entrepreneurs face in growing their companies. 🔍 Our hope is that by leveraging these resources and collaborating with partners across sectors, entrepreneurs in the Pacific Northwest can overcome challenges and scale their impact to accelerate the transition to a clean energy economy in the region and beyond. 🌎⛰️ Read it here: https://lnkd.in/gXdDeAzW Missed our first two reports? You can find them here: https://lnkd.in/grG7998b

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Check out my recent post on why President Trump is the forcing function for us to solve the “Missing Middle” and catch the industrial Tsunami of onshoring coming to the US!

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Hey y'all - this is a big deal. Rising Sun Center for Opportunity just shared two Industry Papers highlighting what a HUGE difference *paying good wages* can make not just for workers, but for closing the racial wage gap and providing net economic benefit to local communities. Training people for quality careers in the green economy is just the first step. To realize the full potential of historic public investment in climate infrastructure, we need to make sure that those investments generate good-paying, high-road jobs that include employer-provided benefits. And we need to ensure that those opportunities are accessible to people who've been locked out of prosperity and face employment barriers. Even something as simple as requiring prevailing wage on publicly-funded residential decarbonization projects can make a huge difference, while minimally increasing project costs. It helps employers attract and retain talent, uplifts BIPOC workers, generates local revenue, and ensures quality work - which delivers promised energy benefits. Job quality and access should be part of every conversation about both workforce development and climate investments. Betony Jones Shrayas Jatkar Doug Bloch Taj Ahmad Eldridge Angie Wei Panama Bartholomy Andreas Cluver Laura Aka...check it out and share widely! #prevailingwage #highroad #climate #goodjobs #unionjobs #decarbonization #electrification

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Excellent blog post on the realities of Climate & VC. While these are "tough times for the transition," there are also many opportunities. Significant capital will continue to flow, with Corporate VCs playing a larger role in financing this transition. Through this process, they will strengthen their LP positions in funds tackling climate challenges. I receive weekly calls from large Holding & Corporate VCs seeking introductions to Climate / Energy / Infra VC Funds. When I ask about their target sub-verticals within Climate / Energy, they often mention that they default to focusing on specific regions due to limited resources and coverage. In other words, rather than evaluating whether a DACH VC is better positioned for solar or grid-tech compared to a Nordic or US VC, they simply pursue whichever regions they can access—a haphazard approach at best. I always advise LPs to evaluate VCs within their operating market context. Since sourcing is crucial in venture capital, Holding Cos. and Family Offices should carefully assess a VC's location, regulatory context, and market environment before investing and building a portfolio of Funds. I've heard "I wish I had discovered this VC / region sooner" far too many times... * At ComposeVC's Built World Fund, we do not invest in Climatetech or Energytech directly, only as it relates to our Built World thesis.

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Streetsblog California put a spotlight on new UCLA Luskin Center for Innovation reports assessing the impact of California’s Transformative Climate Communities (TCC) program, which helps local communities lead and plan projects that reduce emissions and bring economic, environmental and health benefits. Read more... #UCLALuskin UCLA #UCLA #climate

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