Galvanize Climate Solutions is an environmentalist organization led by 2020 Democratic presidential candidate Tom Steyer, founder of Hall Capital Partners Kathryn Hall, and Obama administration U.S. Secretary of State John Kerry. ^{1 2 3}

Galvanize supports a portfolio of environmentalist companies through its Venture and Growth strategy. ⁴ Its Galvanize Real Estate program invests in existing properties that have decarbonization potential. ⁵

Founding

Galvanize Climate Solutions was co-founded by Tom Steyer, a 2020 Democratic presidential candidate, and Kathryn Hall, the founder of investment advisory firm Hall Capital Partners. Galvanize was founded on the principles of “Movement Capitalism,” an economic philosophy Steyer describes as employing “the foundations of capitalism – innovation, entrepreneurship, competition – and merg[ing] those with the power of global activism, in support of a higher public purpose.” Time Ventures, the investment fund of Salesforce founder, chairman, and CEO Marc Benioff, is a strategic investor of Galvanize. ⁶

Programs

Galvanize Climate Solutions’ efforts focus on Venture and Growth and Real Estate. The fund also engages in a Global Equities program that invests in environmentalist businesses. ⁷

Venture and Growth

The Venture and Growth arm of the fund supports a portfolio of environmentalist companies including Alcemy, Fervo Energy, First Street, Octopus Energy, and Quilt. Through its Venture and Growth division, Galvanize Climate Solutions also assists companies with corporate development, technical expertise, regulatory guidance, and communications. ⁴

Galvanize’s portfolio companies, such as First Street and Quilt, have raised millions in Series A funding. In 2024, First Street, a climate risk advising company, raised $21 million in Series A-1 funding, ⁸ and Quilt, an electric home climate company, announced $33 million in Series A funding. Funding for Quilt was co-led by Galvanize Climate Solutions and Energy Impact Partners. ⁹

In 2023, Galvanize announced the final close of its first venture and growth equity fund, the Innovation + Expansion Fund, at over $1 billion. The Innovation + Expansion Fund invests in environmentalist companies to assist them with accelerating to a commercial scale. As of September 2023, the Fund had “invested in 11 companies across sectors including electricity, transport, industry, buildings, agriculture and carbon removal.” ¹⁰

Real Estate

In 2023, Galvanize launched Galvanize Real Estate (GRE) with the goal of reducing the environmental effects of real estate properties. GRE’s strategy is to invest in existing industrial, multifamily, self-storage, and student housing property ¹¹ to “reduce the property’s carbon footprint, improve cash flow and increase asset value.” ⁵ GRE’s sustainability goals primarily relate to carbon emissions, but also include potable water usage, climate resilience, and community impact. ¹¹

In June 2024, GRE acquired a 245,000 sq. ft. industrial complex in Southern New Jersey, citing the property’s decarbonization potential. GRE seeks to “reduce the operational emissions” of the property by adding rooftop solar capabilities. ¹² In November 2024, GRE acquired an additional industrial property in New Jersey that is just over 600,000 sq. ft. GRE noted the property’s potential to “achieve more than 100% greenhouse gas emission reductions over its baseline.” ¹³

Leadership

Tom Steyer, a 2020 Democratic presidential candidate, is a co-founder and co-executive chair of Galvanize Climate Solutions. Steyer previously founded Farallon Capital Management, an investment company, and was also a partner at Hellman & Friedman, a private equity firm. Later, in 2007, Steyer co-founded Beneficial State Bank, a “community development financial institution.” In 2020, Steyer was a co-chair for California Governor Gavin Newsom’s (D) Business and Jobs Recovery Task Force. He is the founder of NextGen America, a youth voter mobilization organization, and he also co-chaired then-Vice President Joe Biden’s Climate Engagement Advisory Council to help mobilize climate voters. ¹

Kathryn Hall is a co-founder and co-executive chair of Galvanize. Hall is the founder of Hall Capital Partners, an investment advisory firm with over $40 billion in investment assets. She sits on the board of the Andrew W. Mellon Foundation, the San Francisco Museum of Modern Art, and the UCSF Foundation. ²

Former U.S. Secretary of State John Kerry is a co-executive chair at Galvanize. Kerry also served in the Biden administration as the United States’ Special Presidential Envoy for Climate and “was the first-ever Principal to sit on the National Security Council entirely dedicated to climate change.” Earlier in his career, he served as a U.S. Senator for Massachusetts. ³

Other executives include former U.S. Rep. John Delaney (D-MD) who is a managing partner at Galvanize, ¹⁴ as well as Chris Creed, a former Chief Investment Officer in the Loan Programs Office at the Department of Energy, who is a partner at Galvanize. ¹⁵

1. “Tom Steyer.” Galvanize Climate Solutions, October 7, 2024. https://galvanizeclimate.com/team/tom-steyer/.
2. “Katie Hall.” Galvanize Climate Solutions, October 7, 2024. https://galvanizeclimate.com/team/kathryn-hall/.
3. “Secretary John Kerry.” Galvanize Climate Solutions, October 7, 2024. https://galvanizeclimate.com/team/secretary-kerry/.
4. “Venture & Growth.” Galvanize Climate Solutions, December 12, 2024. https://galvanizeclimate.com/investment-strategies/venture-and-growth/.
5. “Sustainable Real Estate Platform.” Galvanize Climate Solutions, November 22, 2024. https://galvanizeclimate.com/investment-strategies/real-estate/.
6. Clifford, Catherine. “Billionaire Presidential Candidate Tom Steyer Launching Climate Investment Fund.” CNBC, September 9, 2021. https://www.cnbc.com/2021/09/09/billionaire-financier-tom-steyer-launching-climate-investment-fund.html.
7. “Global Equities.” Galvanize Climate Solutions, February 21, 2024. https://galvanizeclimate.com/investment-strategies/global-equities/.
8. Exclusive: First street, a climate risk firm, raises $46 million in a Series A round. Accessed March 7, 2025. https://www.axios.com/2024/07/25/climate-risk-company-raises-46-million.
9. “Quilt Raises $33m to Launch the Smartest Way to Heat and Cool Your Home.” Business Wire, April 16, 2024. https://www.businesswire.com/news/home/20240412772916/en/Quilt-Raises-33M-to-Launch-the-Smartest-Way-to-Heat-and-Cool-Your-Home.
10. Segal, Mark. “Galvanize Raises over $1 Billion for Decarbonization Solutions Venture Fund.” ESG Today, September 15, 2023. https://www.esgtoday.com/galvanize-raises-over-1-billion-for-decarbonization-solutions-venture-fund/.
11. “Galvanize Climate Solutions Launches New Sustainable Real Estate Strategy Focused on Decarbonization.” Business Wire, April 5, 2023. https://www.businesswire.com/news/home/20230405005212/en/Galvanize-Climate-Solutions-Launches-New-Sustainable-Real-Estate-Strategy-Focused-on-Decarbonization.
12. “Galvanize Climate Solutions’ Real Estate Strategy Acquires Second Asset.” Business Wire, June 27, 2024. https://www.businesswire.com/news/home/20240627636100/en/Galvanize-Climate-Solutions%E2%80%99-Real-Estate-Strategy-Acquires-Second-Asset.”
13. “Galvanize Climate Solutions’ Real Estate Strategy Acquires Third Asset.” Business Wire, November 22, 2024. https://www.businesswire.com/news/home/20241122731407/en/Galvanize-Climate-Solutions%E2%80%99-Real-Estate-Strategy-Acquires-Third-Asset.
14. “John Delaney.” Galvanize Climate Solutions, February 19, 2025. https://galvanizeclimate.com/team/john-delaney/.
15. Pope, Nick. “Biden Officials Slip Back into the Swamp as Trump Takes Charge in DC.” The Daily Caller, February 18, 2025. https://dailycaller.com/2025/02/17/biden-officials-swamp-trump-admin/.