New Mexico's $75 billion sovereign wealth fund has invested approximately $2 billion into venture capital firms over the past three years, driven by increased oil and gas revenues. One beneficiary is Rainmaker, a cloud-seeding startup that plans to trial its technology near the Rio Grande. The company uses drones and silver iodide to induce precipitation. The startup is based in El Segundo, California, and has received funding from VC firms backed by the New Mexico fund.
Related Articles
Don't miss out on breaking stories and in-depth articles.