Key Takeaways
- • Energy Impact Partners (EIP) reached the final close on its latest Flagship Fund (Fund II) with over $1 billion in capital commitments, according to a Business Wire announcement dated November 11, 2021.
- • EIP manages more than $2 billion in assets under management across early-stage, venture, growth, credit and infrastructure investments, with nearly 60 professionals across six global offices.
- • Fund II's backers are dominated by utilities and industrials, including Duke Energy, Southern Company, Xcel Energy, Fortis, Microsoft (through its Climate Innovation Fund) and EDF Group's corporate venture arm.
- • EIP has built a climate-focused venture portfolio of more than 75 investments; Dragos, a portfolio company it led at Series A, was last valued at $1.7 billion in a fundraising round.
Summary
Energy Impact Partners LP (EIP), a global venture capital firm focused on the energy transition, announced the final close of its latest Flagship Fund with over $1 billion in capital commitments. The fund is designed to bring together utilities, energy, real estate, mobility and industrial companies that invest in venture and growth companies advancing climate solutions aimed at net zero greenhouse gas emissions.
Founded in 2015 by a team of industry veterans, EIP manages more than $2 billion in assets under management across early-stage, venture, growth, credit and infrastructure strategies. The firm has nearly 60 professionals across offices in New York, San Francisco, Palm Beach, London, Cologne and Oslo. According to the firm, it has built one of the largest climate-focused venture technology portfolios, with more than 75 investments ranging from early-stage technology startups to established enterprise platforms.
The fund's limited partner base includes a broad group of corporate investors. Named participants include Alliant Energy, Ameren, AvalonBay, Avista, Duke Energy, EDF Group (through EDF Pulse Holding), Emera, Entergy, Evergy, FirstEnergy, Fortis, Hydro One, Microsoft (through its Climate Innovation Fund), Southern Company, TC Energy, Williams and Xcel Energy, among others. Southern Company, a founding partner of EIP, said it has engaged over half of the portfolio companies on technology and business model innovation. Fortis CEO David Hutchens said the company joined EIP's limited partner advisory council.
EIP highlighted several portfolio exits and milestones from its Series A investments, including Dragos, an industrial cybersecurity company whose latest fundraising round valued it at $1.7 billion, Arcadia, a clean energy software platform, and Enchanted Rock, a reliability platform enabling grid decarbonization and electrification. The firm said Fund II has already made significant investments in more than a dozen technology companies. The announcement was made by Business Wire on behalf of EIP, and the figures cited are as reported by the firm.
Founded in 2015 by a team of industry veterans, EIP manages more than $2 billion in assets under management across early-stage, venture, growth, credit and infrastructure strategies. The firm has nearly 60 professionals across offices in New York, San Francisco, Palm Beach, London, Cologne and Oslo. According to the firm, it has built one of the largest climate-focused venture technology portfolios, with more than 75 investments ranging from early-stage technology startups to established enterprise platforms.
The fund's limited partner base includes a broad group of corporate investors. Named participants include Alliant Energy, Ameren, AvalonBay, Avista, Duke Energy, EDF Group (through EDF Pulse Holding), Emera, Entergy, Evergy, FirstEnergy, Fortis, Hydro One, Microsoft (through its Climate Innovation Fund), Southern Company, TC Energy, Williams and Xcel Energy, among others. Southern Company, a founding partner of EIP, said it has engaged over half of the portfolio companies on technology and business model innovation. Fortis CEO David Hutchens said the company joined EIP's limited partner advisory council.
EIP highlighted several portfolio exits and milestones from its Series A investments, including Dragos, an industrial cybersecurity company whose latest fundraising round valued it at $1.7 billion, Arcadia, a clean energy software platform, and Enchanted Rock, a reliability platform enabling grid decarbonization and electrification. The firm said Fund II has already made significant investments in more than a dozen technology companies. The announcement was made by Business Wire on behalf of EIP, and the figures cited are as reported by the firm.
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