Santa Monica firm Pulse Fund closes $63 million climate venture fund

Pulse Fund closed its first venture capital fund at $63 million in October 2026. The Santa Monica based firm will deploy the capital into four specific sectors. These include the energy transition, food and agriculture, infrastructure, and mobility. The fund was established in 2022 by founder Tenzin Seldon.

Seldon grew up in the Himalayas in a community that relied on bartering rather than cash. She observed environmental changes such as flooding playgrounds and melting glaciers during her childhood. She arrived in the United States in tenth grade, where she first encountered the term climate change in a geography class. She later studied policy, economics, and math at Stanford University and Oxford University. She worked on disaster risk reduction with the United Nations Environment Programme in Thailand.

The fund’s portfolio includes companies with established business models. Early investments include Plantible, which produces plant-based protein. Mast Reforestation sells carbon credits using biomass burials. it’s electric provides curbside electric vehicle charging. Twelve uses technology to recycle carbon dioxide emissions. Seldon stated that the fund targets a gap between available financing and climate solutions that need capital.

Pulse Fund takes a hands-on approach to its investments. It often leads financing rounds and secures board seats. John Walsh, founder of Endera, an Ohio based electric shuttle company, praised Seldon’s board participation. Endera received a $36 million equity investment led by Magnetar in early 2025. Walsh said Seldon helped structure the company’s capital table to attract venture capital. He also credited her with providing political connections that aided Endera’s navigation of California’s electric vehicle voucher program.

The fund raised capital during a period of increased global climate tech investment. Market research firm Currence reported that global climate tech venture funding surged 55% in the first half of the year. This total reached $26 billion. The growth is largely driven by the energy demands of artificial intelligence buildouts. Seldon said Pulse has seen interest from AI hyperscalers. However, most of the companies backed by Pulse do not generate power or cater specifically to data centers.

The investor group includes DRO Investments, the family office of David Osborn. Osborn met Seldon on the board of a charity supporting orphanages in Nepal. He previously viewed climate investing as philanthropic rather than a profit-driven endeavor. After reviewing Pulse’s investment theses, he joined the fund. Osborn said he believed Seldon’s capital could solve environmental challenges while generating strong returns. Other investors in the fund include Beneficient, C6 Partners, the Pritzker family, and an Asian sovereign wealth fund.

Seldon noted that the fund focused on overlooked sectors such as nature restoration. A World Economic Forum report indicates a $700 billion gap in nature financing by 2030. She cited Mast Reforestation as an example of scalable nature-based investment. The fund closed despite a competitive fundraising environment where family offices have pulled back from newer managers. Seldon said she maintains a consistent focus to drive urgency without being the loudest voice in the room.