18th Jun 2024 Gemini 1.5 Pro
Kevin Webb, co-founder and managing director of Superorganism, discusses the firm's mission to be the first biodiversity venture capital firm. They differentiate themselves through their dedication to investing in startups specifically focused on biodiversity, aiming to bridge the gap between conservation and finance. Superorganism primarily co-invests in pre-seed and seed stage companies with check sizes ranging from $200,000 to $500,000.
Rather than leading rounds, they act as a "conservationist on the cap table," offering expertise and support to startups in their portfolio. Their investment thesis centers around three key areas: tackling extinction drivers, exploring the intersection of climate and biodiversity, and supporting enabling technologies. This approach highlights their commitment to generating both financial returns and positive ecological impact.
Our weirdness is our focus on biodiversity. And we believe very strongly that much like climate change cuts across the entire global economy, so does biodiversity loss.
Kevin's journey to founding Superorganism is rooted in his passion for biodiversity, stemming from his academic background in human biology and sustainability science. After recognizing the potential of venture capital to drive positive change, he transitioned from traditional venture capital to focus exclusively on biodiversity.
The name "Superorganism" reflects the interconnectedness of life and the need for collaborative efforts in conservation. Kevin emphasizes the importance of shifting away from the narrative of "nature versus progress" and embracing the potential for businesses to become a force for good in the fight against biodiversity loss.
I refuse to believe this idea that we can only be harmful, you know, and we are animals ourselves. We were produced evolutionarily through working with ecosystems all around the world.
Kevin acknowledges the historical tensions between conservationists and the business world. He recognizes the valid concerns surrounding the potential for profit-driven motives to overshadow ecological considerations. He emphasizes the need for humility and empathy from entrepreneurs entering the biodiversity space, recognizing the long-standing efforts of conservationists.
Superorganism aims to address this divide by diligently vetting potential investments, ensuring that impact is deeply embedded in the business models of their portfolio companies. They prioritize businesses that inherently benefit from positive ecological practices, aligning financial incentives with conservation goals.
And so I think we have all kind of accepted this idea that we can have nature or we can have businesses and that that may be true but i think there are enough businesses that are are working in a way that is designed to be ecologically positive from the outset that it's it's possible that maybe we can actually put some businesses to work.
Kevin views technology as a powerful tool in the fight for biodiversity, emphasizing that nature itself is a form of technology. He highlights the potential of technologies like AI, genomics, and satellite imagery to enhance our understanding and conservation efforts. He acknowledges concerns about techno-utopianism but emphasizes the importance of leveraging technology responsibly and ethically.
He cites portfolio company Inversa, which creates luxury leather from invasive species, as an example of using technology and market forces to drive positive ecological outcomes. By creating a market demand for these species, Inversa incentivizes their sustainable harvesting and contributes to biodiversity conservation efforts.
Nature itself is technology. And we are at a very exciting time in our history where we now have technologies that are beginning to be complex enough where we can actually understand all these things that we have been so lucky to inherit.
Kevin highlights the nascent stage of the biodiversity investing landscape, acknowledging the lack of standardized metrics and the complexities of valuing nature. He remains optimistic about the potential of biodiversity credits and other innovative financial mechanisms to incentivize conservation efforts. He emphasizes the need for businesses to accurately account for their ecological impact, citing the EU's Corporate Sustainability Reporting Directive (CSRD) as a step towards greater transparency and accountability.
Superorganism actively tracks various metrics, including the number of deals they see, the impact of their portfolio companies, and the number of individuals choosing to dedicate their careers to biodiversity. Kevin remains optimistic about the growing talent pool in the biodiversity space and the increasing recognition of its importance.
Right now the delta between what we pay for nature and what its true value is, whether you're looking economically or culturally or through any number of lenses, is so vast that anything that we can come up with that gets us a little bit closer is actually is going to break business models.
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