# Evergreen Climate Innovations

Evergreen Climate Innovations is a Private Equity based in Chicago, United States.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Chicago, United States
- **Region:** North America
- **Address:** Chicago, IL, United States
- **Founded:** 2010
- **Assets under management:** Undisclosed
- **Website:** evergreeninno.org
- **LinkedIn:** https://www.linkedin.com/company/evergreen-climate-innovations

## Regulatory record

- **Reports private funds:** No

## About

Evergreen Climate Innovations advances climate tech in the Greater Midwest. It supports startups bringing impactful climate technologies to market through seed investments and hands-on support to entrepreneurs. Structured as a nonprofit, it pioneered a 501vc Investment Fund to align philanthropic and corporate contributions for environmental, economic, and social impact. It works actively with portfolio companies on strategic guidance, mentorship, milestones, and connections to funding, customers, and investors.

## Sectors

- ClimateTech
- Energy Storage
- Mobility & Transportation
- Circular Economy & Waste
- Smart Buildings & Efficiency

## People

- Michelle Carr — Chief Executive Officer
- Ian Adams — Managing Director
- Marc Altman — Senior Vice President, Strategy & Growth
- Shashank Churukanti — Investment Principal
- Elena Loke — Program Manager
- Estelle Richards — Director, Operations
- Dylan O'Reilly — Program Director
- Simone Perrin — Strategic Partnerships Associate
- Rachel Sebald — Director, Marketing and Communications
- Paul Seidler — Managing Director
- Maggie Pakula — Board Member

## Questions

### How does Evergreen Climate Innovations fund its investments, and what is the 501vc® model?

Evergreen raises capital through philanthropic grants and corporate contributions rather than from limited partners who expect market-rate returns. The 501vc® structure is a proprietary approach that lets the nonprofit take equity positions in startups, and when those investments realize gains, the returns recycle into the fund for new climate tech investments. This creates an evergreen pool of capital not dependent on traditional fundraising cycles.

### What is Evergreen's investment stage and geographic focus?

Evergreen targets pre-seed and seed-stage startups across the Greater Midwest region of the United States. The portfolio draws heavily from Illinois, with additional companies in nearby states such as Pennsylvania, and concentrates on firms developing physical hardware and digital technologies for energy transition, water, and advanced mobility.

### Is Evergreen a venture capital firm or a nonprofit grant-maker?

Legally, Evergreen Climate Innovations is a nonprofit organization with 501(c)(3) status. Operationally, it acts more like an early-stage venture investor through its 501vc® Investment Fund, taking equity stakes in for-profit startups rather than issuing one-time grants. The firm navigates program-related investment rules to stay compliant with its nonprofit charter while pursuing venture-style returns.

### What is the firm's relationship to Clean Energy Trust?

Clean Energy Trust was the original name of the organization. The rebrand to Evergreen Climate Innovations occurred to reflect an expanded mandate beyond clean energy into broader climate resilience and decarbonization technologies, while maintaining the same nonprofit structure and Midwest-centric investment strategy.

## Related profiles

- [Everglades Equity](https://altss.com/profile/everglades-equity)
- [Evergreen Mountain Equity Partners](https://altss.com/profile/evergreen-mountain-equity-partners)

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Last updated: 2026-08-11T15:06:42.396Z

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