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Natural Capital

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uuid003veju

Namestring
Natural Capital
Legal namestring
Natural Capital
Websiteurl
naturalcapital.com
Company typeenum
Private
Founded yearint
2019
Descriptiontext

Natural Capital is a Palo Alto-based private venture capital and investment firm founded in 2019. It provides growth capital to transformative technology companies operating across frontier technology verticals including AI, space technology, satellite navigation, and environmental infrastructure, positioning itself as a thematic deep-tech investor rather than a generalist fund.

Between July 2025 and June 2026, the firm led or co-led three sizable venture financings: a $187 million Series C for orbital-manufacturing company Varda Space Industries, a $170 million Series C for satellite navigation startup Xona Space Systems, and a $310 million Series B for AI world-model developer Odyssey at a $1.45 billion valuation. In each of these rounds Natural Capital co-invested alongside recognized institutional capital, including Amazon, GV, AMD Ventures, EQT, In-Q-Tel, Mohari Ventures, and Craft Ventures, evidencing a syndicate-driven investment model.

The firm additionally manages Rebalance Earth, a nature-focused infrastructure fund that has attracted institutional capital from the West Yorkshire Pension Fund and targets mobilization of over GBP 10 billion for UK climate and nature restoration over a decade. Natural Capital is led by founder and partner Jay Zaveri and operates with a lean 1–10 person team. Its revenue model follows standard venture and fund-management economics: management fees on assets under management across its venture and infrastructure vehicles, with potential carried interest on successful investments, though neither revenue nor AUM is publicly disclosed.

Short descriptiontext

Natural Capital is a Palo Alto-based venture capital firm founded in 2019 by Jay Zaveri, investing growth capital in transformative AI, space technology, satellite navigation, and environmental infrastructure companies, and managing the Rebalance Earth nature-focused infrastructure fund.

Operating statusenum
Operating
Ownership categoryenum
Headcount rangeband
1–10
akta.pro rankint
HeadquartersPalo Alto, United States
HQ citystring
Palo Alto
HQ countrystring
United States
HQ regionstring
North America
Markets served

Serves global market

Keyword5 values
venture capital investing, growth stage capital, deep tech investment, climate infrastructure funds, space technology financing
Industry3 codes
1Biodiversity, Conservation & Natural Capital Funds
CodeFSANAJAGPrimaryYes
2Environmental & Resource Efficiency Funds (Water, Waste, Recycling, Efficiency)
CodeFSANAEAEPrimaryNo
3Core Infrastructure Funds (Transport, Social, Digital, Utilities)
CodeFSANAEAAPrimaryNo
NAICS code2 codes
  • Funds, Trusts, and Other Financial Vehicles525
  • Other Investment Pools and Funds5259
SIC code1 code
  • Investors, Nec6799
Product category
Venture Capital
Social media profiles1 record
Cost components4 values
Personnel, Operations, Technology or R&D, Marketing or Sales
GTM typeB2B
B2B
Offering typeServices
Services
Brand1 record
1Rebalance Earth
Description

A nature-focused infrastructure fund managed by Natural Capital, aimed at addressing climate change and nature restoration needs in the UK.

institutionalassetmanager.co.uk
Core offering1 text field

Natural Capital is a venture capital and growth investment firm that deploys capital into transformative technology companies across AI, space technology, satellite navigation, and environmental infrastructure. It manages thematic funds — including the Rebalance Earth nature-restoration fund — and invests as lead or co-lead in late-stage rounds for deep-tech and climate-focused startups.

Differentiator
Functional benefit
Problem solved
Product and service2 records
1Rebalance Earth
2Growth-stage venture capital investments
Scale indicator5 records

Each record includes

Type, Value, Description, Source

Recent move4 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight4 records

Each record includes

Type, Description

Peers10 records
1Lux Capital
TypeDirect peer
Description

Deep-tech venture firm investing in space, AI, and frontier technologies with a thesis-driven, concentrated approach. Directly comparable to Natural Capital's lead-investor style in Xona and Varda.

2Congruent Ventures
TypeDirect peer
Description

Early-stage venture firm focused on climate-tech, sustainability, and infrastructure. Comparable to the sustainable-real-assets focus of Rebalance Earth and Natural Capital's broader thesis.

3Andreessen Horowitz
TypeBroad incumbent
Description

Large, multi-stage venture firm with active investing across AI infrastructure and frontier tech. Broader incumbent comparable by category overlap (AI, deep tech) but with much larger team and AUM than Natural Capital.

4Founders Fund
TypeDirect peer
Description

Deep-tech and frontier-science venture firm known for large, conviction-led bets in aerospace and advanced technology. Comparable investment philosophy to Natural Capital's space-tech portfolio.

5Lowercarbon Capital
TypeDirect peer
Description

Venture firm investing across climate-tech, frontier energy, and nature-based solutions. Comparable to Natural Capital's nature-restoration and climate-aligned investments.

6Khosla Ventures
TypeDirect peer
Description

Venture firm that combines frontier technology and climate/sustainability investing at scale. Comparable dual mandate spanning deep tech (AI, space) and impact/climate, mirroring Natural Capital's strategy.

7Prelude Ventures
TypeDirect peer
Description

Venture firm focused exclusively on early-stage climate solutions, including nature-based carbon removal. Comparable to the natural-capital strategy embodied by Rebalance Earth.

8Breakthrough Energy Ventures
TypeDirect peer
Description

Climate-focused venture fund backed by high-profile LPs investing in transformative technologies. Comparable to the climate/nature-capital leg of Natural Capital's mandate, particularly Rebalance Earth.

9Generation Investment Management
TypeBroad incumbent
Description

Sustainable investment manager integrating ESG and long-horizon capital allocation. Comparable broader incumbent for Natural Capital's natural-capital and climate-aligned strategy at scale.

10Obvious Ventures
TypeDirect peer
Description

Venture firm investing in world-positive companies across climate, health, and sustainability. Comparable thematic overlap with Natural Capital's nature and impact mandate.

Market position
Strengths4 records

Each record includes

Headline, Details, Source

Weaknesses5 records

Each record includes

Headline, Details, Source

Competitive moat3 records

Each record includes

Type, Details

Key risks6 records

Each record includes

Headline, Details, Source

Key highlights6 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Ideal customer profile2 records

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
No
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Core technology
Revenue estimate
Valuation estimate
Number of profiles
Profiles1 record

Each record includes

Name, Designation, Designation category, Overview, Profile commentary, Source

No data
No data
Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment20 records

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Natural Capital

Venture Capitalnaturalcapital.com

Natural Capital is a Palo Alto-based venture capital firm founded in 2019 by Jay Zaveri, investing growth capital in transformative AI, space technology, satellite navigation, and environmental infrastructure companies, and managing the Rebalance Earth nature-focused infrastructure fund.

What Natural Capital does

Natural Capital is a Palo Alto-based private venture capital and investment firm founded in 2019. It provides growth capital to transformative technology companies operating across frontier technology verticals including AI, space technology, satellite navigation, and environmental infrastructure, positioning itself as a thematic deep-tech investor rather than a generalist fund.

Between July 2025 and June 2026, the firm led or co-led three sizable venture financings: a $187 million Series C for orbital-manufacturing company Varda Space Industries, a $170 million Series C for satellite navigation startup Xona Space Systems, and a $310 million Series B for AI world-model developer Odyssey at a $1.45 billion valuation. In each of these rounds Natural Capital co-invested alongside recognized institutional capital, including Amazon, GV, AMD Ventures, EQT, In-Q-Tel, Mohari Ventures, and Craft Ventures, evidencing a syndicate-driven investment model.

The firm additionally manages Rebalance Earth, a nature-focused infrastructure fund that has attracted institutional capital from the West Yorkshire Pension Fund and targets mobilization of over GBP 10 billion for UK climate and nature restoration over a decade. Natural Capital is led by founder and partner Jay Zaveri and operates with a lean 1–10 person team. Its revenue model follows standard venture and fund-management economics: management fees on assets under management across its venture and infrastructure vehicles, with potential carried interest on successful investments, though neither revenue nor AUM is publicly disclosed.

Natural Capital firmographics

Firmographics
Name
Natural Capital
Legal name
Natural Capital
Website
https://naturalcapital.com
Company type
Private
Founded year
2019
Operating status
Operating
Headcount range
1–10 employees
Short description
Natural Capital is a Palo Alto-based venture capital firm founded in 2019 by Jay Zaveri, investing growth capital in transformative AI, space technology, satellite navigation, and environmental infrastructure companies, and managing the Rebalance Earth nature-focused infrastructure fund.
Ownership category
akta.pro rank

Natural Capital industry classification

Industry
Product category
Venture Capital
NAICS
Funds, Trusts, and Other Financial Vehicles (525), Other Investment Pools and Funds (5259)
SIC
Investors, Nec (6799)
akta.pro primary industry
Biodiversity, Conservation & Natural Capital Funds (FSANAJAG)
akta.pro secondary industries
Environmental & Resource Efficiency Funds (Water, Waste, Recycling, Efficiency) (FSANAEAE), Core Infrastructure Funds (Transport, Social, Digital, Utilities) (FSANAEAA)

Keywords

  • Venture capital investing
  • Growth stage capital
  • Deep tech investment
  • Climate infrastructure funds
  • Space technology financing

Where Natural Capital is headquartered

Location

Headquarters

HQ city
Palo Alto
HQ country
United States
HQ region
North America

Markets served

Natural Capital business model

Business model
GTM type
B2B
Offering type
Services
Cost components
Personnel, Operations, Technology or R&D, Marketing or Sales

Natural Capital product offering

Product offering

Core offering

Natural Capital is a venture capital and growth investment firm that deploys capital into transformative technology companies across AI, space technology, satellite navigation, and environmental infrastructure. It manages thematic funds — including the Rebalance Earth nature-restoration fund — and invests as lead or co-lead in late-stage rounds for deep-tech and climate-focused startups.

Differentiator

Problem solved

Functional benefit

Brands

  • Rebalance Earth: A nature-focused infrastructure fund managed by Natural Capital, aimed at addressing climate change and nature restoration needs in the UK.

Products and services

  • Rebalance Earth
  • Growth-stage venture capital investments

Companies that use Natural Capital

Customer profile

Ideal customer profiles2 records

Natural Capital technology and API

Technology

Technology focussed No

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

Natural Capital partnerships and signals

Strategic signal

Scale indicators5 records

Recent moves4 records

Expansion highlights4 records

Natural Capital competitors and assessment

Company assessment

Direct peers

  • Lux Capital: Deep-tech venture firm investing in space, AI, and frontier technologies with a thesis-driven, concentrated approach. Directly comparable to Natural Capital's lead-investor style in Xona and Varda.
  • Congruent Ventures: Early-stage venture firm focused on climate-tech, sustainability, and infrastructure. Comparable to the sustainable-real-assets focus of Rebalance Earth and Natural Capital's broader thesis.
  • Founders Fund: Deep-tech and frontier-science venture firm known for large, conviction-led bets in aerospace and advanced technology. Comparable investment philosophy to Natural Capital's space-tech portfolio.
  • Lowercarbon Capital: Venture firm investing across climate-tech, frontier energy, and nature-based solutions. Comparable to Natural Capital's nature-restoration and climate-aligned investments.
  • Khosla Ventures: Venture firm that combines frontier technology and climate/sustainability investing at scale. Comparable dual mandate spanning deep tech (AI, space) and impact/climate, mirroring Natural Capital's strategy.
  • Prelude Ventures: Venture firm focused exclusively on early-stage climate solutions, including nature-based carbon removal. Comparable to the natural-capital strategy embodied by Rebalance Earth.
  • Breakthrough Energy Ventures: Climate-focused venture fund backed by high-profile LPs investing in transformative technologies. Comparable to the climate/nature-capital leg of Natural Capital's mandate, particularly Rebalance Earth.
  • Obvious Ventures: Venture firm investing in world-positive companies across climate, health, and sustainability. Comparable thematic overlap with Natural Capital's nature and impact mandate.

Broad incumbents

  • Andreessen Horowitz: Large, multi-stage venture firm with active investing across AI infrastructure and frontier tech. Broader incumbent comparable by category overlap (AI, deep tech) but with much larger team and AUM than Natural Capital.
  • Generation Investment Management: Sustainable investment manager integrating ESG and long-horizon capital allocation. Comparable broader incumbent for Natural Capital's natural-capital and climate-aligned strategy at scale.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

Natural Capital social profiles

Digital presence

Natural Capital financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Natural Capital leadership team

Management profile

Number of profiles

Profiles1 record

Natural Capital funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Natural Capital M&A and investment

M&A and investment

M&A

Investments20 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Natural Capital

What does Natural Capital do?

Natural Capital is a venture capital and growth investment firm that deploys capital into transformative technology companies across AI, space technology, satellite navigation, and environmental infrastructure. It manages thematic funds — including the Rebalance Earth nature-restoration fund — and invests as lead or co-lead in late-stage rounds for deep-tech and climate-focused startups.

Is Natural Capital a public or private company?

Natural Capital is a private company. It is classified as venture growth investor backed and is currently operating.

When was Natural Capital founded?

Natural Capital was founded in 2019. It employs 1 to 10 people.

Where is Natural Capital based?

Natural Capital is headquartered in Palo Alto, United States, in the North America region.

Who are Natural Capital's main competitors?

Direct peers on record are Lux Capital, Congruent Ventures, Founders Fund, Lowercarbon Capital, Khosla Ventures, Prelude Ventures, Breakthrough Energy Ventures and Obvious Ventures. Broad incumbents are Andreessen Horowitz and Generation Investment Management.

Does Natural Capital have an API?

No public API is recorded for Natural Capital.

What industry is Natural Capital in?

Natural Capital's product category is Venture Capital. Its primary akta.pro industry code is FSANAJAG, Biodiversity, Conservation & Natural Capital Funds, with a secondary code of FSANAEAE, Environmental & Resource Efficiency Funds (Water, Waste, Recycling, Efficiency). Its NAICS code is 525 and its SIC code is 6799.

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Live signals
VC News DailyVarda Lands $250 Million Series DVarda Space raised $250 million in a Series D round at a $1.6 billion valuation, led by Lux Capital and Natural Capital. The funding brings total raised to $598 million since its 2021 founding, supporting missions to produce pharmaceuticals in microgravity.pharmaphorumSpace pharma Varda raises $251m, and other financingsVarda Space Industries closed a $251 million Series D round to fund orbital pharmaceutical manufacturing, led by Lux Capital and Natural Capital. The company claims to be the only one with six successful launches and re-entry missions. Other biotechs also raised funds this week, including Kallyope's $94 million and Breye Therapeutics' €67.5 million.Tech Funding NewsVarda raises $251M led by Lux Capital and Natural Capital to make medicines in orbit — TFNVarda raised $251M in a Series D led by Lux Capital and Natural Capital, valuing the company at $1.6B and bringing total funding to $598M. The El Segundo-based firm has flown six reentry missions and plans over a dozen more through 2028, aiming to make medicines in orbit.FiercePharmaVarda brings home $251M series D to fuel space-based drug manufacturingVarda Space Industries raised $251 million in a Series D round, led by Lux Capital and Natural Capital, bringing total funding to $598 million. The company aims to manufacture pharmaceuticals in microgravity, with a first medicine expected soon. Its next launch this week will send two capsules on a SpaceX Falcon 9.Channel NewsAsiaVarda raises $250 million at $1.6 billion valuation to scale orbital drug manufacturingVarda Space raised $250 million in a Series D round at a $1.6 billion valuation, led by Lux Capital and Natural Capital. The El Segundo-based startup has deployed six orbital missions since 2023 and plans to launch two capsules simultaneously on a SpaceX Falcon 9 rideshare. It expects its pharmaceutical customer base to grow, with about 70% government and 30% commercial.ReutersVarda raises $250 million at $1.6 billion valuation to scale orbital drug manufacturingVarda Space raised $250 million in a Series D round at a $1.6 billion valuation, led by Lux Capital and Natural Capital. The El Segundo-based startup has raised $598 million since 2021 and plans its first dual-capsule launch on Thursday aboard a SpaceX Falcon 9. It expects its pharmaceutical customer base to grow from 30% to 82% by 2032.YahooVarda raises $250 million at $1.6 billion valuation to scale orbital drug manufacturingVarda Space raised $250 million in a Series D round at a $1.6 billion valuation, led by Lux Capital and Natural Capital. The El Segundo-based startup has deployed six orbital missions since 2023 and plans to launch two capsules on a SpaceX Falcon 9 rideshare. CEO Will Bruey expects pharmaceuticals to become the majority of its payload business by 2032.dev.uaStartup Varda has raised $250 million to produce drugs in space and beyond. What is the "trick" of this technologyVarda Space raised $250 million in a Series D round at a $1.6 billion valuation. The startup builds unmanned capsules for orbital drug production, having launched six missions since 2023. It has booked 28 capsule launches from 2027 to 2029, with government clients expected to make up 70% of its next year's business.Tech TimesOne Backbone, Five Bodies: Odyssey-3 Drives Cars, Runs Humanoids, Plays GamesOdyssey announced Odyssey-3, a frozen backbone model that controls robot arms, humanoids, cars, drones, and game characters via lightweight decoders. A driving policy trained only on simulation retained 77% of real-world performance on Indian roads, and a GTA V policy controlled a horse in Red Dead Redemption 2. Independent benchmarks have not yet been published.OdysseyOur $310 Million Fundraise to Accelerate World SimulationAI company Odyssey has raised $310 million in Series B funding at a $1.45 billion valuation, led by Natural Capital with participation from Amazon, GV, AMD Ventures, EQT, and IQT. The funding will accelerate development of world models—AI systems capable of understanding and simulating the physical world—with applications spanning robotics, science, healthcare, gaming, and defense. Amazon Web Services will become Odyssey's preferred cloud provider, and the company believes the field is approaching the "GPT-3 moment" for world models.