Portland, Ore. — June 3, 2026 — Fintech startup Enduring Planet has closed its second fund at more than $12 million, more than double the size of its debut fund, to expand financing for early-stage climate startups.
Founded in 2021, Enduring Planet provides loans ranging from $100,000 to $2 million to climate-focused ventures, particularly those awarded government grants and contracts. Unlike traditional venture capital, the company does not take equity, instead charging interest rates of up to 15–17% with a modest origination fee.
CEO Dimitry Gershenson said the milestone reflects resilience in a challenging market: “We’re really proud of this outcome, despite the challenging market environment that climate tech is facing in the US.”
To date, Enduring Planet has issued nearly $40 million in loans to more than 70 startups, including Tacoma-based Aquagga and Portland’s Photon Marine. The company also offers part-time CFO services to help founders manage financial operations.
The new fund comes at a time when U.S. government support for climate initiatives has become less predictable, and investors are shifting away from riskier early-stage ventures. Still, with an estimated $90 billion in climate capital available, Enduring Planet aims to fill a critical gap by backing entrepreneurs who are driving innovation in sustainability.
The fund is supported by a diverse group of backers, including Blue Haven Initiative, Cisco Foundation, ImpactAssets, DF Impact Capital, Green Spark Ventures, Montcalm TCR, SK2 Fund, The Arthur B. Schultz Foundation, Viridian Works, Brighter Investing, and Realize Impact with support from The Schmidt Family Foundation.
