Bill Clerico raises $85 million for Convective Capital disaster solutions
WePay's co-founder Bill Clerico just raised $85 million for his venture fund, Convective Capital, aiming to help communities better handle disasters.
After starting with a $35 million fund in 2022 focused on wildfires, this new round expands to broader disaster risk solutions, just as climate challenges keep growing.
Insurers and asset managers back Convective
Backed by big players like insurance companies and asset managers, Convective is investing in startups like The Lumber Manufactory (which builds timber mills for healthier forests) and Voltaire (a Y Combinator-backed company using drones to inspect power lines).
Clerico points out that with "There's $60 trillion of real estate at high risk from disasters, the US spends a trillion dollars a year mitigating and recovering from disasters, we need a new approach to this,"
The fund will keep supporting tech that fights fires and other disasters before they spiral.