At One Ventures

At One Ventures is a San Francisco-based climate technology venture capital firm founded in 2020 by Tom Chi, a founding member of Google X and co-creator of Google Glass, built around the conviction that humanity can become a net positive force for nature rather than a net destructive one. The firm invests in early-stage deep technology companies where breakthrough scientific and engineering approaches change the underlying unit economics of established industries, enabling decarbonization at the scale and speed required to address the climate crisis. Tom Chi and the At One Ventures team apply a framework that evaluates investments against their potential to reduce greenhouse gas emissions by at least one gigaton of CO2 equivalent per year, a threshold that eliminates incremental improvements in favor of genuinely transformative technologies. The firm closed a $375 million Fund II in October 2023, bringing its total assets under management to approximately $500 million. At One Ventures does not restrict itself to any single technology vertical, instead backing breakthroughs wherever they are needed: clean fuels, direct air capture, alternative proteins, advanced materials, energy storage, and carbon-negative construction. Portfolio companies include Twelve, which converts CO2 into sustainable fuels and chemicals, Cemvita, which uses engineered biology for industrial decarbonization, Ambri, a liquid metal battery company for long-duration energy storage, and Aether, a materials science company. Beyond its original investments in Aether, Ambri, Cemvita, and Twelve, the portfolio includes nuclear energy, deep geothermal, and advanced materials companies.