Global alternative investment manager Energize Ventures announced today the close of its second flagship fund, raising $330 million to invest in energy transition-focused digital solutions aimed at optimizing energy, critical infrastructure, and sustainable industries.
Energize’s first fund deployed $165 million into 14 software-based companies serving the energy and critical infrastructure sectors. Fund II will focus on scaling and commercializing cutting-edge technologies and software across renewable energy, mobility, cybersecurity, battery storage, critical infrastructure, and climate resiliency.
John Tough, the Managing Partner of Energize Ventures, said:
“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. As we continue into the next decade, we are grateful for the opportunity to partner with entrepreneurs and invest in the next-generation technologies that will shape a more sustainable tomorrow.”
According to Energize, roughly 70% of commitments for the new fund come from institutional investors or family offices. Investors include Invenergy, CDPQ, SE Ventures, GE Renewable Energy, Hannon Armstrong, Credit Suisse, Xcel Energy, American Electric Power, and Equinor Ventures, among others.
Michael Polsky, CEO at Invenergy, and a limited partner in both of Energize’s funds said:
“We are at an inflection point in the global transition to sustainable energy. The industry is changing at the pace of technology and asset owners and operators are looking to digital solutions that can support scalability and innovation. Invenergy provides real world insights to guide Energize in making the best investments, while also having a front-row seat to the new technologies coming to market in our industry – many of which we adopt as a customer.”