Former Lahde Capital COO Andy Springer and his operations team have joined forces with portfolio manager Pamela Schwab to run Resolve Capital, a cleantech hedge fund.

Lahde Capital is winding down after their funds after gaining an astronomical 1000% last year betting on residential and commercial mortgages. The firm’s founder, Andrew Lahde, in October announced that he was winding down his funds in a letter to investors in which he blasted the hedge fund industry’s “idiots whose parents paid for prep school, Yale, and then the Harvard MBA.” 

Resolve Capital capital’s mandate is “to earn substantial returns for our clients by investing globally in businesses that provide solutions to environmental, social, health and economic problems,” according to Springer.

The sustainability fund was recently opened to outside investors after managing proprietary capital for the past three years.