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RA Capital Management's New Fund for Planetary Health

On July 22, 2025, RA Capital Management, LP, announced the successful closure of its first Planetary Health Fund (PHF), successfully raising $120 million. This fund is specifically designed to finance high-growth companies that are committed to advancing resource sustainability, energy innovation, and increased productivity across industries.

The Planetary Health Fund is built on RA Capital's two decades of experience in investment and company development, emphasizing scalable and market-driven solutions aimed at enhancing planetary wellbeing. The fund seeks to back companies exhibiting capital efficiency, meaning these firms can achieve profitability without relying heavily on subsidies or government policies. Sectors of particular interest for investments include critical minerals, energy production, manufacturing, agricultural advancements, and environmental services.

The fund's focus remains on early-stage investments that prioritize a company’s readiness for mainstream market deployment. Unlike many funds that track progress solely by funding rounds, the PHF monitors the commercial timelines of its portfolio companies, acknowledging the unique paths of deep-tech enterprises.

Leading the Planetary Health team are Managing Partners Brigid O'Brien, PhD, and Kyle Teamey. They have already invested in seven pioneering companies and have established a solid pipeline of potential opportunities, supported by a diverse network of advisors and collaborators.

“This fund embodies a natural evolution of our aim to support transformative science and technology that enhances human wellbeing,” stated Peter Kolchinsky, the Founder and Managing Partner at RA Capital. “By applying our rigorous, evidence-driven approach to the Planetary Health domain under the leadership of Brigid and Kyle, we strive to develop sustainable companies that can tackle global challenges while generating significant returns.”

The fund's portfolio boasts a variety of groundbreaking technologies, including innovations in metal recycling and circularity from Sortera Technologies, advanced battery manufacturing by AM Batteries, geologic hydrogen exploration via Koloma, next-gen energy platforms such as Bia Energy and Optivolt, and various mining technologies still in stealth mode.

O'Brien emphasized that the PHF is uniquely positioned to accelerate the growth of companies that yield not only substantial returns but also positive environmental impacts. “We offer more than just capital; we are active partners who assist entrepreneurs in overcoming technology-related hurdles, navigating regulatory frameworks, and achieving commercial scalability.”

Teamey added, “Our dedicated research platform, along with our global exposure to complex investment environments, allows us to chase high-potential opportunities, irrespective of their location.”

RA Capital Management was founded in 2004 and is recognized for its multi-stage investment strategy, focused on evidence-based investments in the healthcare sector and beyond, including the burgeoning field of planetary health. With over 170 employees and more than $10 billion in managed assets, RA Capital aims to fund and develop pioneering companies from initial seed stages through to public offerings, fostering substantial value creation at every phase of development.

In summary, the establishment of the Planetary Health Fund by RA Capital Management marks a pivotal step towards addressing pressing global challenges while delivering robust financial returns. As the world increasingly seeks sustainable solutions, funds like the PHF play a crucial role in driving innovations that benefit both humanity and the planet.