Unlocking Scale-Up Capital for Climate Tech Through Insurance
Introducing Venture Surety
At GreenieRE, we see insurance not just as protection, but as a vehicle for capital efficiency — especially for capital-intensive climate-tech companies scaling beyond venture funding. Venture Surety is our new approach designed to bridge the gap between venture finance and project execution, and Vensurety is our first product to market in this new category.
What is Surety—and Why Does it Matter?
Surety is a well-established insurance product used when one party (the principal) promises to fulfill an obligation to another (the obligee). It provides assurance that the contract will be completed — or compensation will be paid if it is not.
Widely used in industries like construction, surety bonds are simple contracts, carry strong loss ratios, and enjoy deep familiarity across insurance markets. This proven mechanism can be re-applied to support the next generation of climate-tech companies.
The Challenge: Moving Climate Tech to Commercial Scale
A new wave of climate tech firms — funded by leading investors such as Lowercarbon Capital, DCVC, and Breakthrough Energy Ventures — are now transitioning to commercial deployment. Their technologies have moved beyond proof-of-concept and now require project-finance-style capital stacks.
Yet, traditional surety markets often exclude climate tech firms. Without long operating histories or strong credit ratings, they are pushed toward expensive, restrictive options: posting collateral, securing letters of credit, or taking on venture debt. These alternatives come with double-digit rates, dilution, and significant balance sheet strain, slowing the very growth needed to decarbonize industries.
A New Path: The Venture Surety Model
Venture Surety offers a different approach: off-balance sheet surety underwriting that functions like “renting” a stronger balance sheet. Rather than tying up scarce capital, companies pay a premium for risk coverage that unlocks contractual performance.
This model mirrors the role venture debt plays but is designed specifically for climate tech obligations, delivering three key benefits:
- Reduced balance sheet drag: No need to lock up cash or collateral.
- Lower execution costs: Cheaper than traditional letters of credit or debt.
- Liquidity for growth: Frees up capital for scaling projects rather than securing obligations.
A Credible Launchpad: The Vensurety Product
Our recently announced Vensurety product was developed in collaboration with trusted partners. The Schmidt Family Foundation and Builders Vision are providing initial catalytic philanthropic capital to test the model. And Trellis Climate, Prime Coalition’s catalytic capital program, is helping evaluate the financial and impact outcomes of this innovation.
These partnerships give the Vensurety product, and the VentureSurety category, solidity from day one, ensuring that it is both market-ready and impact-aligned.
Venture Surety is Innovative — and Urgent
Venture debt already provides a scaled model for financing startups. VentureSurety has the potential to do the same for climate-tech execution risk.
Losses are inherent in insurance, but with strong underwriting, catalytic capital, and robust monitoring, risks can be responsibly managed. Early pilots with leading surety providers are already underway. And through collaboration with TrellisClimate, we are developing Venture Surety impact frameworks that measure not just financial outcomes but also climate benefits.
This approach builds on earlier innovations such as Prime’s Azolla Ventures and Project Frame, which pioneered catalytic capital models for early-stage climate infrastructure.
Turning an Old Insurance Tool into a New Lever for Decarbonization
The energy transition requires more than breakthrough technologies, it needs innovative capital structures to bring those breakthroughs to market. Venture Surety is designed to do just that: reduce balance-sheet constraints, lower execution costs, and accelerate the path from pilot to scale.
At GreenieRE, we believe insurance can be more than risk transfer — it can be a catalyst for climate impact. Venture Surety is one way we’re proving it.
For more details about Venture Surety, read the September 22, 2025 press release.