Press Release

QBE North America Launches the QBE Possibilities Fund to Foster Collaborative Climate Solutions

NEW YORK, NY, January 24, 2024 — QBE North America proudly announces the launch of the QBE Possibilities Fund, an innovative initiative dedicated to supporting and fostering collaborative early-stage climate solutions that are seeking to contribute to a more resilient and sustainable future. 

"With today’s climate challenges, collaboration, partnerships and strategic capital allocation are essential to support early-stage climate innovations," said David Mulligan, Chief Operating Officer, QBE North America. "Our goal is to work together to nurture and advance these technologies, supporting their transition into practical solutions."

The QBE Possibilities Fund operates by providing philanthropic capital and building partnerships for impact-first investments through ImpactAssets, a donor-advised fund based in the US. The primary mission of the QBE Possibilities Fund is to help accelerate the development and adoption of climate solutions with the potential to have a significant impact on future climate resilience and stability. Collaborating closely with funders, partners, and innovative early-stage companies, QBE aims to contribute expertise and resources through the QBE Possibilities Fund in an effort to collectively address climate challenges and enhance global resilience.

The QBE Possibilities Fund has already contributed to two strategic investments:

  • Azolla Ventures: A blended capital fund launched by Prime Coalition that focuses on solutions with profound climate impact potential.
  • ReGen Ventures: An early-stage fund investing in regenerative technologies, particularly in the areas of food and agriculture, materials and products, and decarbonization.

"Our mission is to fund breakthrough climate innovations that might not be launched without catalytic support,” said Matthew Nordan, General Partner, Azolla Ventures. “Bringing corporate expertise and networks to these start-ups is critical for early-stage ventures when it comes to their speed of development and long-term success.”

The QBE Possibilities Fund is committed to responsible environmental stewardship by leveraging philanthropic capital to help navigate early-stage risk and catalyze follow-on investment. This approach underscores QBE’s dedication to supporting climate solutions and contributing to the growth stages of emerging climate technologies.

"ReGen Ventures is thrilled to partner with QBE North America via the QBE Possibilities Fund” said Dan Fitzgerald, Managing Partner, ReGen Ventures. "At ReGen Ventures we are obsessed with the potential for regenerative technologies to enrich the lives of people everywhere. We partner with founders daring to build regenerative technologies that redefine critical systems such as food, agriculture, materials, buildings and nature-based decarbonization. Contributions from the QBE Possibilities Fund will help us to drive the requisite capital and talent investment required to radically improve lives within our communities for the better and lead us towards a brighter tomorrow."

About QBE
QBE North America is a global insurance leader helping customers solve unique risks, so they can stay focused on their future. Part of QBE Insurance Group Limited, QBE North America reported Gross Written Premiums in the first half of 2023 of $5 billion. QBE Insurance Group’s results can be found at Headquartered in Sydney, Australia, QBE operates out of 27 countries around the globe, with a presence in every key insurance market. The North America division, headquartered in New York, conducts business primarily through its insurance company subsidiaries. The actual terms and conditions of any insurance coverage are subject to the language of the policies as issued. Additional information can be found at or follow QBE North America on LinkedIn and Facebook

Media contact:
Nicole Guzzardi, Lead Communications Partner