Raphaele Leyendecker, Managing Director at Techstars, spoke to Team Reblue about how fostering early-stage sustainability ventures, empowering founders with the right resources and tackling the urgency of climate action are central to her work. She emphasized the importance of collaboration, not just innovation, in creating scalable solutions that accelerate positive environmental impact.

Raphaele Leyendecker’s career is defined by the belief that sustainability is not just an opportunity; it’s a strategic necessity. With a background in law, entrepreneurship, and venture investing, Raphaele quickly realized that real transformation occurs when businesses integrate sustainability into their core operations. She founded Agronergy, a renewable energy company, learning firsthand that sustainable solutions must be scalable, actionable, and tied to long-term value creation.

As a Partner in Venture Building, Raphaele worked with leading corporations like Engie and Schneider Electric to prove how innovation and sustainability go hand in hand. A pivotal moment came with a decentralized energy management solution—demonstrating that aligning technology with sustainability objectives leads to both environmental and business success.

Now, as Managing Director at Techstars, Raphaele continues to help shape the future of sustainability through early-stage investments. She backs startups that see sustainability as an opportunity to disrupt industries and unlock new growth. With over 70 startups under her belt, Raphaele focuses on backing innovators who are pushing the envelope on climate solutions and creating scalable business models.

In our series, 'Nine Questions With', Raphaele discusses how aligning purpose with execution, fostering collaboration, and driving systemic change are keys to building sustainable, profitable businesses in a world where success is increasingly defined by environmental responsibility. Read the full conversation below.

Team Reblue: There's often a pivotal moment that transforms a career path into a calling. What was the unexpected spark that first ignited your passion for sustainability, and how did that single moment shift your entire perspective on the intersection of technology, business, and environmental impact?

Raphaele Leyendecker: Coming from a family of entrepreneurs in the recycling industry, I’ve always been drawn to the challenge of making heavy industry more sustainable. I studied M&A law and Sustainability, then transitioned to renewable energy with Agronergy, my first company. My pivotal moment came as a Partner in Venture Building, working on projects with major corporations like Engie, Suez and Schneider Electric. One standout project involved developing a decentralized energy management solution. This highlighted how technology and business models could solve pressing environmental challenges. It was clear that sustainability and innovation could address environmental issues while unlocking economic opportunities. This moment shifted my perspective, inspiring me to dedicate my career to the intersection of sustainability, technology, and business as an Early-stage climate investor. It reinforced my belief that purposeful innovation has the power to create a more sustainable and prosperous future, motivating me to support and invest in startups that share this vision (80 investments until now).

"AI has the potential to be a game-changing ally in addressing global environmental challenges, but it is not without its complexities. While AI offers incredible opportunities, we must also acknowledge its energy consumption and environmental footprint. It's a tool—not a panacea—and how we use it will determine its ultimate impact."

Team Reblue: Your career seems like a beautifully woven tapestry that bridges multiple disciplines - from energy to biodiversity and water. How has this kaleidoscopic background uniquely positioned you to see sustainability challenges not just as environmental issues, but as complex human narratives waiting to be reimagined?

Raphaele Leyendecker: My career has been shaped by a rich and varied journey across multiple disciplines, providing me with a unique vantage point on sustainability challenges. Starting as a legal professional in the energy sector, I gained a deep understanding of regulatory frameworks and the strategic complexities of the industry. This foundation helped me see the broader picture of how energy systems interconnect with societal and environmental dynamics. Taking the leap into entrepreneurship, I founded my first company in the renewable energy sector, focusing on agronomy and biomass. This hands-on experience taught me the operational intricacies of building a sustainable business from the ground up, as well as the critical role that innovation plays in driving meaningful change. My role as a Partner in Venture Building expanded this perspective even further. I worked on developing and scaling innovative solutions to address pressing sustainability challenges. Each project was a testament to the power of cross-disciplinary collaboration in solving complex issues. Working on M&A projects, I delved into the world of strategic partnerships and acquisitions, where I witnessed how aligning corporate priorities with sustainability goals could create transformative outcomes. This exposure helped me appreciate the necessity of bridging financial performance with environmental responsibility. Finally, as an investor and Managing Director at Techstars, I’ve had the privilege of working closely with 70 startups that challenge conventional approaches and reimagine solutions at the intersection of technology, business, and sustainability. Supporting entrepreneurs who see sustainability not as a constraint but as an opportunity has reinforced my belief in innovation as a driving force for systemic change. This kaleidoscopic background has shown me that sustainability challenges are not merely environmental; they are deeply human narratives. Each challenge tells a story of interwoven economic, cultural, and social dimensions, all waiting to be reimagined through the lens of creativity, technology, and empathy.

"The invisible threads connecting impactful climate startups go far beyond funding or even a shared vision. Startups that thrive often share a deep commitment to solving systemic challenges."

Team Reblue: In the world of climate tech investing, you've spoken about a "realistic utopia". Can you unpack that concept for us? What does it truly mean to balance transformative vision with pragmatic execution, especially when most investors are risk-averse?

Raphaele Leyendecker: The idea of a "realistic utopia" stems from my belief that bold visions for a sustainable future must be grounded in actionable, practical strategies. It’s dreaming big while staying grounded in achievable steps. In the climate tech space, this duality is essential because the challenges we face require transformative solutions, yet the path to implementation often demands pragmatism and patience. A realistic utopia envisions a world where technology, business, and human ingenuity work in harmony to address climate challenges. It recognizes that while moonshot ideas are inspiring, they must be accompanied by incremental milestones, reliable business models, and scalable execution plans. For example, it’s not enough to dream of a net-zero future—we must also map out the infrastructure, partnerships, and financial models that can make that future attainable within a defined timeline. This balance is especially important in a field where many investors are risk-averse. It’s our job as climate tech investors to de-risk innovation by identifying ventures that marry visionary goals with practical, evidence-based approaches. Startups that succeed in this space are often those that combine breakthrough technologies with a clear understanding of market dynamics, customer needs, and regulatory landscapes. For me, a realistic utopia is also about fostering a collaborative ecosystem where risks are shared and success is celebrated collectively. By connecting entrepreneurs, corporations, and governments, we can create a support system that enables transformative ideas to thrive. Ultimately, this concept is a call to action for all stakeholders in the climate tech space: to dream without limits but execute with discipline, and to acknowledge that a sustainable future is not just possible—it’s necessary and within reach, if we approach it with both vision and pragmatism.

Team Reblue: The intersection of AI and sustainability is rapidly evolving. What emerging developments or potential applications most excite you about how artificial intelligence could be a game-changing ally in our global sustainability efforts? Are there specific innovations or breakthrough moments you've encountered that make you genuinely optimistic about technology's role in solving environmental challenges?

Raphaele Leyendecker: The intersection of AI and sustainability is one of the most dynamic and promising areas of innovation today. AI has the potential to be a game-changing ally in addressing global environmental challenges, but it is not without its complexities. While AI offers incredible opportunities, we must also acknowledge its energy consumption and environmental footprint. It’s a tool—not a panacea—and how we use it will determine its ultimate impact. One exciting application is AI in grid management and peer-to-peer energy trading. AI can optimize energy flows in real-time, balancing renewable energy supply with demand and reducing reliance on fossil-fuel-based systems. It can also empower decentralized energy systems, democratizing access to clean energy. However, AI’s energy consumption is a paradox, so innovations like energy-efficient algorithms and renewable-powered data centers are essential. AI can help solve complex problems, but it must be used responsibly to maximize its benefits for sustainability.

"Start with DOING."

Team Reblue: You've been deeply embedded in networks like Techstars or the Greentech Alliance. What are the invisible threads that truly connect impactful climate startups - is it funding, shared vision, or something more nuanced that most outside observers might miss? 

Raphaele Leyendecker: The invisible threads connecting impactful climate startups go far beyond funding or even a shared vision. Startups that thrive often share a deep commitment to solving systemic challenges. This sense of mission fuels collaboration and resilience. The network of clients, partners, and stakeholders these startups build accelerates impact. Mentorship and knowledge sharing also play a crucial role, helping startups avoid common pitfalls and scale effectively. Ultimately, the most impactful startups balance visionary goals with practical execution, building trust, relationships, and delivering value. It’s the interplay between purpose and pragmatism that sets them apart.

Team Reblue: Having witnessed the climate tech landscape's evolution, what emerging signals give you genuine hope? And conversely, what systemic barriers continue to frustrate you about how we approach sustainable innovation?

Raphaele Leyendecker: I’m optimistic about the growing alignment between public awareness, corporate responsibility, and government policy. More sectors are recognizing that sustainability is imperative, and innovations in renewable energy and AI for grid management inspire hope. However, there are still barriers, such as the decline in climate tech investment in Europe and the geopolitical challenges that slow progress. The rise of AI hype also risks diverting attention from urgent climate challenges. Despite these frustrations, the climate tech community remains resilient, pushing forward with innovation and collaboration. By realigning incentives and addressing geopolitical challenges, we can accelerate the transition to a sustainable future.

"In this new chapter, humanity reclaims its role as a caretaker of the Earth, guided by humility and purpose... This is a future where progress is measured not by what we extract, but by how we restore, nurture, and sustain the ecosystems that support all life."

Team Reblue: If you could distill the DNA of a successful climate tech startup, what would those genetic markers be? Beyond financials and technical innovation, what human and cultural elements determine whether a venture can truly move the needle?

Raphaele Leyendecker: The DNA of a successful climate tech startup extends far beyond financials and technical innovation. At its core, it’s about founders who are deeply committed to creating something meaningful and enduring. These are individuals who see their venture not just as a business, but as a mission they’re here to build and stand by for the long haul. Take the founders of Kumulus Water, who are tackling global water scarcity with passion and resilience, or the team at Bib Batteries, reimagining battery life cycle analysis and reuse for a sustainable future. What sets them apart is their ability to balance visionary thinking with pragmatic execution, while fostering a culture of collaboration, adaptability, and purpose. Ultimately, successful climate tech startups are powered by leaders who are not just chasing exits but are dedicated to solving systemic challenges, inspiring teams, and creating lasting impact.

Team Reblue: For emerging sustainability professionals feeling overwhelmed by the scale of global challenges, what strategic advice would you offer to maintain hope, build resilience, and create meaningful impact without burning out?

Raphaele Leyendecker: Start with DOING.

"Each challenge tells a story of interwoven economic, cultural, and social dimensions, all waiting to be reimagined through the lens of creativity, technology, and empathy."

Team Reblue: If you could script the opening paragraph of humanity's next chapter in planetary stewardship, what would that narrative look like? What legacy are you actively working to construct that extends far beyond your immediate professional achievements?

Raphaele Leyendecker: In this new chapter, humanity reclaims its role as a caretaker of the Earth, guided by humility and purpose. We embrace low-tech solutions that reconnect us with nature’s cycles—like regenerative agriculture, decentralized energy systems, and community-driven conservation—while integrating technology only where it amplifies these efforts responsibly. This is a future where progress is measured not by what we extract, but by how we restore, nurture, and sustain the ecosystems that support all life.