RA Capital Management Announces $120 Million Planetary Health Fund

– RA Capital Closes $120M Planetary Health Fund Focused on Profitable, Market-Driven Solutions –

BOSTON, July 22, 2025 /PRNewswire/ -- RA Capital Management, LP ("RA Capital") today announced the final close of its inaugural Planetary Health Fund (PHF), raising $120 million to invest in high-growth companies advancing resource availability, energy innovation, and industrial productivity. The fund supports scalable, market-driven solutions that improve planetary health, leveraging RA Capital's two decades of evidence-based investing and company-building expertise.

RA Capital's Planetary Health team backs capital-efficient companies that can become profitable without relying on subsidies or policy support. Industry verticals of interest include critical minerals, energy, manufacturing, agriculture, and environmental services.

PHF is an early-stage investment fund focusing on a company's path to near-term deployment and profitability. Although PHF's investments to date range from Series Seed to Series C, each company shares a similar commercial timeline. PHF tracks progress by a company's market readiness, not by its funding round – mirroring the unique go-to-market paths of deep-tech firms.

The Planetary Health team is led by Managing Partners Brigid O'Brien, PhD, and Kyle Teamey. As of July 2025, the fund has invested in seven portfolio companies, built a robust pipeline of opportunities, and assembled a specialized team supported by a global network of advisors and collaborators.

"This fund represents a natural evolution of our mission to back transformational science and technology to improve human wellbeing," said Peter Kolchinsky, Founder and Managing Partner at RA Capital. "By applying the same rigorous, evidence-based approach to the planetary health space under Brigid's and Kyle's leadership, our team can help build enduring companies that address global challenges while delivering strong returns."

Current portfolio companies span breakthrough technologies in metal recycling and circularity (Sortera Technologies and a company still in stealth), advanced battery manufacturing (AM Batteries), geologic hydrogen exploration (Koloma), next-generation energy platforms (Bia Energy and Optivolt), and mining technology (company still in stealth).

"Planetary Health's focus on near-term solutions identified through deep market diligence positions us to scale companies that deliver both meaningful returns and measurable results," said O'Brien. "Our team combines deep technical expertise with proven company-building capabilities. We don't just provide capital – we're active partners that help entrepreneurs navigate everything from technology challenges to regulatory complexity to recruiting and commercial scale-up."

"Our proprietary research platform, experience scaling companies with product-market fit, and global experience with complex investments enable us to pursue high-potential opportunities regardless of geography," said Teamey. "We love to help entrepreneurs build great companies and we are excited by the opportunities in our pipeline."

About the Team

Managing Partners Brigid O'Brien and Kyle Teamey bring combined experience across more than 90 technology investment transactions. They previously collaborated at In-Q-Tel, the strategic investment arm of the U.S. Intelligence Community, where they jointly managed strategic portfolios and led investments in early-stage companies.

Before joining RA Capital, O'Brien served as Managing Director at In-Q-Tel's Australian subsidiary and as Head of Venture Investments at BHP, the world's largest mining company by market capitalization. Teamey was previously a Partner at Breakthrough Energy Ventures and investment principal at In-Q-Tel. He also served as CEO and Co-Founder of Liquid Light, a CO2-to-chemicals company acquired by Avantium.

About RA Capital Management

Founded in 2004, RA Capital Management is a multi-stage investment manager dedicated to evidence-based investing in public and private healthcare, life sciences, and planetary health companies. RA Capital creates and funds innovative companies, from private seed rounds to public follow-on financings, allowing management teams to drive value creation from inception through commercialization and beyond. RA Capital's knowledge engine is guided by its dedicated internal research division; and Raven, RA Capital's healthcare incubator, offers entrepreneurs and innovators a collaborative and comprehensive platform to explore the novel and the re-imagined. RA Capital has more than 170 employees and over $10 billion in assets under management.

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SOURCE RA Capital Management, LP