Energize Ventures raises $330M to fund energy, mobility and climate resiliency technology
Energize Ventures, an early-growth venture fund, has announced the closure of its second fund with a total capital commitment of $ 330 million. Fund II will be used to support the expansion and commercialization of software against renewable energy, mobility, cybersecurity, battery storage, critical infrastructure, and climate change.
Worth just twice the amount Energize raised for the first fund, the fund is backed by anchor investors such as Invenergy, CDPQ, SE Ventures, GE Renewable Energy and Hannon Armstrong. Credit Suisse, Xcel Energy, American Electric Power and Equinor Ventures also participated.
“We’ve seen the energy and industry sectors undergo a major digital transformation since they first launched Energize five years ago,” John Tough, managing partner of Energize Ventures, said in a statement. It states. “The transition to a more renewable and sustainable future exceeds all expectations, and market participants are digitizing their operations to meet this new scale.”
To date, Energize has capitalized from Fund II, Munich-based predictive battery analysis software TWAICE, Columbus, Ohio-based IoT device company Finite State, and New York-based critical infrastructure, according to the company. We have invested in three investments, including the cyber security company Urbint.
Fund II targets more than 15 early-stage digital first startups sourcing Series A, B, or C rounds in the energy and sustainable industry sector. Energize Ventures typically invests around $ 10 to $ 20 million and prefers to lead the round.
The company’s first round invested in 14 software-based companies, including the currently-released EV charging solution Volta, cloud-manufacturing startup Fast Radius, and solar software company Aurora Solar.
“Energize invests exclusively in digital solutions,” a spokeswoman for the company told TechCrunch. “That is, there is no hardware and no moonshot that requires a huge amount of capital investment to land. It’s just the software layer technology for commercialization. Part of it comes from the company’s investment strategy. The team relies on LPs (including well-known companies such as GE and Schneider) to identify the challenges facing today’s sector and find solutions that overcome barriers to decarbonization. “
Energize Ventures raises $330M to fund energy, mobility and climate resiliency technology – TechCrunch Source link Energize Ventures raises $330M to fund energy, mobility and climate resiliency technology – TechCrunch