- Energize has raised $330m for its Fund II.
- This amount is twice what it raised of its Fund I.
- The company aims to invest in 15 or more clean energy and climate resiliency start-ups.
Energize Ventures has announced the closing of its second fund with cumulative capital commitments of $330 million. The company states that the ‘Fund II’ will help scale and commercialize software across clean energy, e-mobility, cybersecurity, battery storage, critical infrastructure and climate resiliency. The fund is twice what Energize raised in its first fund. Fund II is backed by anchor investors including Invenergy, CDPQ, SE Ventures, GE Renewable Energy and Hannon Armstrong. Others are Credit Suisse, Xcel Energy, American Electric Power and Equinor Ventures.
John Tough, managing partner of Energize Ventures, in a statement, noted, “since we first launched Energize five years ago, we have seen the energy and industrial sectors undergo a massive digital transformation. The transition towards a more renewable and sustainable future is outpacing all expectations, and market participants are digitizing operations to address this new, emerging scale.”
Fund II aims to fund 15 or more early-stage digital-first startups raising Series A, B or C rounds in the energy and sustainable industry sectors. The VCs first-round invested in 14 software-based companies, including the public EV charging solution Volta and solar software company Aurora Solar. The company exclusively invests in digital solutions.