Top 9 Venture Capital Firms for Clean Energy Startups

For founders in the Clean Energy space, preparing to raise capital requires a clear understanding of the investors who specialize in your field. Knowing which climate tech or cleantech VC firms are actively funding companies like yours is a critical first step.

To help you find the right partners, our team at Rho has created this overview of top venture capital firms in the sector. We've curated this list to help you quickly identify relevant investors, whether you're just starting your search or are actively fundraising.

Actively raising? You can now access non-dilutive funding options like venture debt and credit lines through Rho Capital. Rho also provides access to business banking, corporate cards, and bill pay—all built for startup teams moving fast.

Key Takeaways

• For a clean energy startup, securing venture funding provides the essential capital to scale your technology and expand operations.

• Venture firms like Clean Energy Ventures, Creative Ventures, Ironspring Ventures, and Acumen are prominent investors backing companies in the clean energy industry.

• If you're a startup leader who is raising or has just closed a round, Rho helps you manage your capital with fast business banking, corporate cards, and bill pay.

Which VC Firms in Clean Energy Are Right for Your Stage?

No matter if you're just starting out or getting ready for an exit, knowing the right investors to approach makes all the difference. We've put together a brief guide to venture capital firms in clean energy, broken down by their investment stage.

Pre-seed and Seed VC Firms in Clean Energy

Pre-seed and seed funding is the initial capital you'll raise to validate your idea and build a minimum viable product. For founders in the cleantech space, firms like Ironspring Ventures, Creative Ventures, and Energy Foundry are some of the most active venture capital firms focusing on this crucial first stage.

Early Stage VC Firms in Clean Energy

Early-stage funding, typically Series A and B, is for startups with proven traction that need capital to scale their team and expand market presence. Among the early stage VC firms with sector-specific expertise, you might consider approaching Evergreen Climate Innovations, Fledge, or VilCap Investments.

Once you've secured your round, Rho's integrated platform helps you manage and deploy that capital efficiently with business banking, corporate cards, and automated bill pay.

Late Stage VC Firms in Clean Energy

Late-stage rounds are designed for established companies preparing for significant growth, an IPO, or acquisition. Prominent late stage venture capital firms in the renewable energy sector include Clean Energy Ventures, Acumen, and Prelude Ventures.

If you're looking for non-dilutive financing to complement a late-stage round, Rho Capital can connect you with venture debt and credit line options tailored to your business model.

It's also worth noting that some climate tech VC firms invest across all funding stages, from seed to exit.

To help you identify the right investors, we've compiled information on top VC firms that focus on the clean energy industry. Here are key details about their investment stages, geographic focus, and what makes each firm a potential fit for founders like you.

1. Clean Energy Ventures

Based in Boston, Clean Energy Ventures invests in companies that are commercializing innovative energy technologies and new business models. The firm supports startups across multiple funding stages, from initial seed rounds to late-stage venture capital.

A key characteristic of the firm is its focus on deeply technical solutions with clear paths to decarbonization and market adoption. Its portfolio includes companies like Advanced Ionics, which is developing low-cost green hydrogen, and Nth Cycle, which recovers critical minerals for battery recycling.

Clean Energy Ventures is likely a good match for founders with science- or hardware-based technologies that require significant capital and industry validation. If you're looking to complement your equity round, Rho Capital can also connect you with non-dilutive financing options like venture debt.

• Investment stages: Seed, Early Stage Venture, Late Stage Venture, Convertible Note

• Industries of focus: Clean Energy, CleanTech

• Geographical presence: Boston, Massachusetts

• Founded: 2017

• Portfolio size: 62 investments

• Notable portfolio companies: OXCCU, LineVision, Nth Cycle, Advanced Ionics

You can refer to their website here.

2. Creative Ventures

Based in Oakland, California, Creative Ventures is a deep tech venture firm that invests in early-stage companies working to solve critical global problems. The firm backs founders who are building technology-driven solutions in foundational industries.

A key attribute of the firm is its focus on deep tech across sectors like clean energy, robotics, and advanced materials. Their portfolio includes notable exits, such as the AI-powered smart cart company Caper, which was acquired by Instacart, and lidar maker Sense Photonics, which was bought by Ouster.

Creative Ventures is likely a good match for founders with a strong science or engineering background building tangible technology. Once you secure your funding, Rho’s integrated platform helps you manage and deploy that capital with business banking, corporate cards, and automated bill pay.

• Investment stages: Early Stage Venture, Seed, Venture

• Industries of focus: Clean Energy, Deep Tech, Advanced Materials, Robotics, Health Care

• Geographical presence: Oakland, California

• Founded: 2016

• Portfolio size: 60 investments

• Notable portfolio companies: Caper, Sense Photonics, Bleximo, ALICE

You can refer to their website here.

3. Ironspring Ventures

Based in Austin, Texas, Ironspring Ventures leads and co-leads early-stage investments in companies transforming core industrial sectors. The firm focuses on construction, manufacturing, transport & logistics, and alternative energy.

A key characteristic of the firm is its focus on digital industrial innovation, backing companies that modernize foundational industries. Notable investments include ICON, a 3D-printed housing pioneer, and Solvento, a fintech platform for the Latin American trucking industry.

Ironspring Ventures is a strong potential partner for founders building technology for physical-world sectors that have been historically underserved by venture capital. Once you secure funding, Rho can help you manage and deploy your capital with business banking, corporate cards, and automated bill pay.

• Investment stages: Early Stage Venture, Seed

• Industries of focus: Clean Energy, Construction, Industrial, Logistics, Manufacturing, Supply Chain Management

• Geographical presence: Austin, Texas

• Founded: 2019

• Portfolio size: 32 investments

• Notable portfolio companies: ICON, Solvento, Wilya

You can refer to their website here.

4. Acumen

Acumen is a non-profit venture fund based in New York that takes an entrepreneurial approach to addressing global poverty. The firm invests in companies that create sustainable solutions for low-income communities.

A defining feature is its focus on social impact, backing companies in sectors like clean energy, agriculture, and financial services. Portfolio companies like Esusu, which helps renters build credit, reflect Acumen's commitment to financial inclusion.

Acumen is an ideal partner for founders building for-profit businesses with a core mission to solve problems associated with poverty. Once you secure funding, Rho’s integrated platform can help you manage your capital with business banking, corporate cards, and automated bill pay.

• Investment stages: Early Stage Venture, Late Stage Venture

• Industries of focus: Agriculture, Clean Energy, Financial Services, Non Profit

• Geographical presence: New York, New York

• Founded: 2001

• Portfolio size: 142 investments

• Notable portfolio companies: Esusu, EarnUp, Ema, Level

You can refer to their website here.

5. Evergreen Climate Innovations

Based in Chicago, Evergreen Climate Innovations provides capital and support to entrepreneurs bringing high-impact climate technologies to market. The firm focuses on helping startups commercialize their solutions and scale their environmental impact.

A key attribute of the firm is its focus on measurable environmental outcomes alongside financial returns, investing in sectors from renewable energy to cleantech. Notable portfolio companies include NanoGraf Technologies, which produces more energy-dense lithium-ion batteries, and Wright Electric, which is developing a zero-emissions commercial aircraft.

Evergreen Climate Innovations is a strong fit for early-stage founders with technology-driven solutions that address significant climate challenges. Once you secure your funding, Rho’s integrated platform helps you manage and deploy that capital with business banking, corporate cards, and automated bill pay.

• Investment stages: Early Stage Venture, Seed

• Industries of focus: Clean Energy, CleanTech, Impact Investing, Renewable Energy

• Geographical presence: Chicago, Illinois

• Founded: 2010

• Portfolio size: 47 investments

• Notable portfolio companies: SPLT, Wright Electric, NanoGraf Technologies, Agentis Energy

You can refer to their website here.

6. VilCap Investments

Based in San Francisco, VilCap Investments provides critical risk capital to early-stage companies. Its investments are made in startups that are peer-selected from Village Capital's accelerator programs.

A defining characteristic of the firm is its unique peer-selection model, which empowers founders to help choose which companies receive funding. The firm has a strong track record of successful exits, including the financial wellness platform Vault and consumer-electronics warranty provider Upsie Technology.

VilCap Investments is an ideal partner for founders who value a community-driven approach and can benefit from the Village Capital accelerator ecosystem. Once you secure funding, Rho’s integrated platform can help you manage and deploy your capital with business banking, corporate cards, and automated bill pay.

• Investment stages: Seed, Early Stage Venture, Debt, Private Equity

• Industries of focus: Agriculture, Clean Energy, Education, Finance, Health Care

• Geographical presence: San Francisco, California

• Founded: 2014

• Portfolio size: 85 investments

• Notable portfolio companies: Vault, Upsie Technology, Billpocket, Kuli Kuli

You can refer to their website here.

7. Earth Foundry

Based in Chicago, Earth Foundry is a venture fund that invests in early-stage energy and cleantech startups. The firm provides capital to founders who are building the next generation of grid, energy, and resource-efficiency technologies.

A key characteristic of the firm is its focus on foundational energy technologies, with a portfolio that includes both hardware and software innovators. Notable investments like industrial cybersecurity leader Dragos and smart-panel maker Span highlight its success in backing companies that achieve significant scale and market recognition.

Earth Foundry is a strong potential partner for early-stage founders developing technology for the energy grid, storage, and efficiency sectors. Once you secure funding, Rho can help you manage and deploy your capital with integrated tools for business banking, corporate cards, and automated bill pay.

• Investment stages: Early Stage Venture, Seed

• Industries of focus: Clean Energy, CleanTech, Energy Efficiency, Energy Storage, Power Grid

• Geographical presence: Chicago, Illinois

• Founded: 2013

• Portfolio size: 35 investments

• Notable portfolio companies: Dragos, Span, NanoGraf, GlidePath

You can refer to their website here.

8. Fledge

Based in Seattle, Fledge is a global network of business accelerators that invests in mission-driven, for-profit companies. The firm operates as both an accelerator and a venture capital investor, supporting startups across a wide range of impact sectors.

A key feature of the firm is its accelerator model, which provides hands-on support to companies with a clear social or environmental mission. Its portfolio includes companies like Evrnu, a textile recycling innovator, and Burn Manufacturing, which produces high-efficiency cookstoves for African households.

Fledge is a great fit for founders building a for-profit business with a core mission to create positive change, especially if you can benefit from an accelerator program. Once you secure funding, Rho’s integrated platform can help you manage your capital with business banking, corporate cards, and automated bill pay.

• Investment stages: Seed, Early Stage Venture, Debt

• Industries of focus: Social Impact, Sustainability, Clean Energy, AgTech, Financial Services, Health Care

• Geographical presence: Seattle, Washington

• Founded: 2012

• Portfolio size: 89 investments

• Notable portfolio companies: Evrnu, Burn Manufacturing, Shift Labs, BridgeCare

You can refer to their website here.

9. Prelude Ventures

Based in San Francisco, Prelude Ventures is a venture capital firm that invests in companies addressing climate change. The firm supports founders across multiple funding stages, from seed to late-stage rounds, focusing on technologies with significant environmental impact.

A key characteristic is the firm's broad investment thesis within climate tech, covering everything from AgTech and carbon capture to quantum computing. Their portfolio features several high-profile successes, including unicorns like Lime and Fervo Energy, and IPO exits like Planet, signaling a strong ability to back companies to significant scale.

Prelude Ventures is a strong potential partner for founders with ambitious, technology-driven solutions to major climate problems, regardless of their funding stage. If you're looking for non-dilutive financing to complement an equity round, our team at Rho Capital can connect you with venture debt and credit line options.

• Investment stages: Seed, Early Stage Venture, Late Stage Venture, Venture

• Industries of focus: CleanTech, AgTech, Carbon Capture, Food and Beverage, Industrial, Manufacturing

• Geographical presence: San Francisco, California

• Founded: 2013

• Portfolio size: 150 investments

• Notable portfolio companies: Lime, Planet, Fervo Energy, Benson Hill

You can refer to their website here.

What This Tells Us About The VC Scene for Clean Energy Companies

This list of investors shows that the funding situation for companies in the clean energy space is both active and varied. You'll find firms that focus on the earliest seed stages, while others specialize in later rounds, and some invest across the entire company lifecycle. This balance means that no matter your company's current stage, there are potential partners available.

Geographically, investors are not just concentrated in traditional tech hubs. While firms are present in the Bay Area and Boston, you'll also find active investors in Chicago, Austin, and Seattle. This variety gives you more options to find a firm that aligns with your specific needs and location.

As you prepare your fundraising strategy, remember that equity isn't the only path. To extend your runway without diluting ownership, Rho Capital can connect you with non-dilutive financing like venture debt. Once you've secured your capital, Rho’s platform provides the tools—from business banking to corporate cards—to manage it effectively, so you can focus on building your company.

Raise Confidently with Rho

Having a focused list of relevant investors is invaluable when your time and energy are limited during a fundraise. We hope this guide helps you target the right partners for your clean energy company.

If you’re seeking funding, Rho Capital connects you to non-dilutive options like venture debt and credit lines through a fast, guided process. We help you access financing tailored to your business model without chasing lenders.

Once your capital is secured, Rho provides integrated tools to help you manage and deploy funds efficiently. Our platform includes business banking, corporate cards, and automated bill pay so you can focus on building.

FAQs about Venture Capital Firms Focused on Clean Energy

Are there prominent clean tech venture capital firms in Europe?

Yes, Europe has a growing number of VCs focused on climate and clean energy. Firms across the UK, Germany, and Scandinavia are actively funding startups that are developing solutions for decarbonization and sustainability, creating more global opportunities for founders.

Which US regions are hubs for energy VC firms?

While Silicon Valley and Boston are major centers for energy venture capital, you'll also find active investors in cities like Chicago, Austin, and Seattle. This geographic diversity provides founders with more options for finding the right regional partner.

What do early-stage climate tech VC firms look for?

Early-stage investors typically focus on your team's expertise, the novelty and scalability of your technology, and a clear market need. They want to see a credible plan for how your solution can achieve significant environmental impact and financial returns.

How important are ESG criteria for sustainability venture capital firms?

For sustainability and impact investors, ESG criteria are fundamental. These firms evaluate companies not just on financial potential but on their commitment to measurable environmental, social, and governance goals, making it a core part of their due diligence process.

What if I need funding but want to avoid dilution?

If you want to extend your runway without giving up more equity, non-dilutive financing is a great option. Our team at Rho Capital connects founders with venture debt and credit lines tailored to their specific business needs and growth stage.

How can Rho help my clean energy startup manage its finances?

Once you secure capital, our integrated platform helps you manage it effectively. Rho provides business banking, corporate cards, and automated bill pay, giving you the financial tools to focus on scaling your company.