Co-Investment Coalitions
All Aboard Has Closed a $133 Million Climate Scale-Up Fund
Adam Harrie — August 19, 2026
The All Aboard Coalition closed its inaugural climate fund at $133 million, mobilizing capital to help climate technologies bridge the "missing middle" gap between early-stage venture funding and infrastructure-scale investment. Launched in 2025 by 14 venture capital and growth equity firms representing more than $60 billion in assets, the coalition has since grown to 20 members.
The fund co-invests only when three or more qualifying coalition investors independently commit meaningful capital to the same financing round, ensuring that multiple independent investment committees vet each deal before the fund commits.
To date, it has completed three investments, including thermal battery company Antora, AI-native geothermal developer Zanskar and low-carbon cement company TerraCO2. Family office Macdoch recently joined as a significant investor and governance participant. Multi-investor structures could become essential for helping promising climate innovations cross from venture-backed proof of concept to infrastructure-scale deployment.
