Energize Ventures, a global investment manager that funds digital-first solutions for sustainable energy transition, announced that it had raised $330 million while closing its second flagship fund. The company said over 70% of its new funding came from institutional investors or family offices.
The funding will be utilized to invest in digital solutions that can optimize energy, critical infrastructure, and sustainable industries. It will also be used to scale up and commercialize cutting-edge technologies and software across renewable energy, mobility, cybersecurity, battery storage, critical infrastructure, and climate resiliency.
The company also aims to provide financial, operational, and commercial support to entrepreneurs in energy transition.
In its debut fund, the company deployed $165 million across 14 software-based companies that serve energy and critical infrastructure sectors. It has deployed capital from Fund II in predictive battery analytics software TWAICE, a pioneer of internet of things device intelligence Finite State, and Urbint that leverages artificial intelligence to protect critical infrastructure.
The company manages over $700 million of committed capital from a diversified set of institutional, strategic, and family offices and ESG-focused investors. Alongside anchor investor Invenergy and returning limited partners like CDPQ, SE Ventures, GE Renewable Energy, and Hannon Armstrong, the second fund includes Credit Suisse, Xcel Energy, American Electric Power, and Equinor Ventures.
Micheal Polsky, Chief Executive Officer of Invenergy, said, “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 consumer.”
Emmanuel Jaclot, Executive Vice-President and Head of Infrastructure at CDPQ, said, “In our ongoing pursuit to help cultivate a more sustainable future, CDPQ wants to play an active role in directing more capital towards solutions that enable the energy transition. The team at Energize has demonstrated the ability to identify leading energy and infrastructure software investments across North American and European markets.”
In May 2021, Aurora Solar, a US-based solar software company, raised $250 million in a Series C funding round led by Coatue. Existing investor Energize Ventures also participated in the funding round.
Mercom had earlier reported that TWAICE, a battery analytics software company that enhances transparency and predictability of batteries, raised $26 million in Series B funding led by Energize Ventures.