Introducing Our Inaugural Annual Report

With the release of our 2024 Annual Report, we reflect on what has been a transformative chapter for S2G. 

We celebrated our 10^th year in the market, launched as an independent business, grew to more than 50 employees, and prepared to enter 2025 with a new name: S2G Investments. These milestones represent our evolution into a firm distinctly positioned to help scale the next generation of solutions at the seams of food and agriculture, energy, and oceans.

We also introduced our Theory of Change, a framework that seeks to guide new investments and map our portfolio to the long-term impact outcomes we aim to achieve. These ​“North Stars” anchor our strategy and guide how we measure success: in risk-adjusted market-rate financial returns, but also in tons of CO₂ mitigated, calories made more nutritious, megawatts installed, and acres sustainably managed, to name a few.

We collectively navigated these milestones amid one of the most complex business environments in recent memory. Geopolitical realignments are changing supply chains and reshaping trade and industrial policy. Monetary systems face new pressures as sovereign debt grows and confidence in fiat currencies wavers. AI is shifting productivity curves and redefining company operations. Climate adaptation is forcing investors and companies to confront the rising costs of a warming planet. 

These dynamics mark our entry into what we call the Age of Adaptation: a period defined by volatility and extraordinary opportunity. 

We believe the next 30 years will look nothing like the last. Disruption will be constant, but so will the potential for breakthrough innovation and durable value creation. This era will demand bold ideas, adaptive strategies, fit-for-purpose capital, and collective action. It is both a test of resilience and a catalyst for reinvention. 

We believe the companies best positioned to thrive will be capable of embracing system-level shifts and equipped to deliver solutions that outperform traditional alternatives. The most durable among them will build antifragile models with limited downside risk and asymmetric upside potential, driving long-term value for people and the planet. These are the businesses we seek to back and scale.

Looking ahead in 2025 and beyond, the transition to a more resilient, efficient economy represents a multitrillion-dollar opportunity. Over $10 trillion in cumulative investment is expected to shift toward climate-aligned sectors by 2030, creating new industries, technologies, and jobs.¹ This is a moment of massive reallocation of resources, and we see significant opportunity for those willing to lean in.

We remain humbled by the collective effort it takes to drive lasting systems change and grateful for the opportunity to help lead it. We believe the future belongs to those bold enough to reimagine what’s possible and we are proud to be building that future with you.