Top 9 Venture Capital Firms for Clean Energy Startups

As a founder in the clean energy space, preparing to raise capital means knowing which investors are truly active in your sector. Understanding the key climate tech and cleantech venture capital firms helps you focus your efforts and connect with partners who appreciate your company’s specific goals.

To help with your process, our team at Rho curated this guide to the top VC firms in the industry. We want to give you a direct overview of the investors who are funding the next generation of renewable energy and sustainability startups.

Rho provides access to business banking, corporate cards, and bill pay — built for startup teams moving fast.

Key Takeaways

• Securing venture funding in the clean energy sector is about more than just capital; it’s about finding a partner who understands your mission and can help you scale your impact.

• Top VC firms actively backing startups in the clean energy industry include Clean Energy Ventures, Creative Ventures, Ironspring Ventures, and Acumen.

• Once you’ve raised a round, Rho helps you manage your new capital with integrated business banking, corporate cards, and automated bill pay.

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

Whether your company is in its early stages or preparing for an exit, knowing which investors to contact makes all the difference.

Here is a brief overview of key VC firms in the clean energy industry and the stages at which they invest, helping you focus your efforts.

Pre-seed and Seed VC Firms in Clean Energy

Pre-seed and seed funding is the initial capital you'll raise to validate your concept and build your minimum viable product. For founders at this stage, sustainability venture capital firms like Ironspring Ventures, Energy Foundry, and Fledge are often a great fit.

Early Stage VC Firms in Clean Energy

Early-stage funding, typically Series A and B, is for startups with established product-market fit that need capital to scale operations and grow their team. Among the many early stage VC firms, you might consider connecting with Creative Ventures and Evergreen Climate Innovations.

Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.

Late Stage VC Firms in Clean Energy

Late-stage rounds provide capital for mature companies to expand into new markets, make acquisitions, or prepare for an exit like an IPO. If your company has reached this point, you might connect with late stage venture capital firms such as Acumen or Prelude Ventures.

It's also worth noting that some energy VC firms invest across the full spectrum of startup funding stages. For example, Clean Energy Ventures supports companies from their earliest convertible notes through late-stage venture rounds.

To help you find the right investment partner, our team has compiled a detailed look at leading VC firms in the clean energy sector. You'll find information on their investment stages, geographic focus, and what makes each firm a compelling option for founders.

1. Clean Energy Ventures

Based in Boston, Clean Energy Ventures funds companies that are bringing new energy technologies and business models to market. The firm focuses on startups with the potential for significant decarbonization impact.

The firm invests across a company's full lifecycle, from initial convertible notes to late-stage venture rounds. Their portfolio includes companies like LineVision, which improves grid capacity, and Nth Cycle, which focuses on critical mineral recovery for battery recycling.

CEV could be a strong partner if you are a founder developing a capital-intensive, science-based solution to a major climate problem. Their portfolio suggests a preference for companies with defensible technology and clear paths to commercialization.

• Investment Stages: Convertible Note, Seed, Early Stage Venture, and Late Stage Venture
• Industries of Focus: Clean Energy and CleanTech
• Geographical Presence: Boston, Massachusetts
• Founded: 2017
• Notable Portfolio Companies: Advanced Ionics, LineVision, and Nth Cycle

Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.

You can refer to their website here.

2. Creative Ventures

Based in Oakland, Creative Ventures is a deep tech venture firm that invests in early-stage companies working to solve some of the world's most significant challenges. They focus on startups tackling what the firm calls “humanity’s most critical crises.”

The firm shows a clear preference for deep tech startups in sectors like clean energy, robotics, and advanced materials. Their portfolio highlights this with successful exits like Caper, an AI smart cart company acquired by Instacart, and Sense Photonics, a lidar developer bought by Ouster.

Creative Ventures could be a strong partner if you are a founder with a technical background building a complex, science-based solution. Their portfolio suggests they value companies addressing large-scale problems in major industries.

Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.

• Investment Stages: Seed, Early Stage Venture
• Industries of Focus: Advanced Materials, Battery, Clean Energy, Robotics, Health Care
• Geographical Presence: Oakland, California
• Founded: 2016
• Notable Portfolio Companies: Caper, Sense Photonics, IOTAS, ALICE, Bleximo
• Portfolio Size: 60 investments

You can refer to their website here.

3. Ironspring Ventures

Based in Austin, Texas, Ironspring Ventures funds early-stage companies building technology for industrial sectors. The firm concentrates on startups in construction, manufacturing, transport and logistics, and alternative energy.

Ironspring often leads or co-leads seed and early-stage rounds, signaling a hands-on approach from the beginning. Their portfolio includes companies like ICON, a pioneer in 3D-printed housing, and Solvento, a fintech platform for Latin America’s transportation sector.

This firm could be a strong partner if your startup is modernizing legacy industries like construction or supply chain management. They seem to favor founders addressing major labor, payment, or infrastructure issues in these core areas.

Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.

• Investment Stages: Seed, Early Stage Venture

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

• Geographical Presence: Austin, Texas

• Founded: 2019

• Notable Portfolio Companies: ICON, Solvento, Wilya

• Portfolio Size: 32 investments

You can refer to their website here.

4. Acumen

Based in New York, Acumen is a non-profit venture fund that invests in companies using entrepreneurial methods to address global poverty. They support businesses that aim to create sustainable solutions for low-income communities.

The firm invests in both early and late-stage ventures across sectors like clean energy, agriculture, and financial services. Their portfolio includes companies like Esusu, a fintech platform that helps renters build credit by reporting rent payments.

Acumen could be an excellent partner if your company has a strong social mission baked into its business model. They are a good fit for founders focused on creating scalable impact in underserved markets.

Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.

• Investment Stages: Early Stage Venture, Late Stage Venture

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

• Geographical Presence: New York, New York

• Founded: 2001

• Notable Portfolio Companies: Esusu, EarnUp, Ema, Level

• Portfolio Size: 142 investments

You can refer to their website here.

5. Evergreen Climate Innovations

Based in Chicago, Evergreen Climate Innovations supports startups that are bringing impactful climate technologies to market. The firm focuses on helping entrepreneurs commercialize solutions in the clean energy and cleantech sectors.

Evergreen invests at the seed and early stages, backing companies with tangible technologies. Their portfolio includes a successful exit like the car-pooling platform SPLT, acquired by Bosch, and ambitious projects like Wright Electric’s zero-emission aircraft.

This firm is a good match if you are an early-stage founder developing a technology with clear environmental benefits. They appear to value startups that can demonstrate a direct path to reducing carbon emissions or improving sustainability.

Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.

• Investment Stages: Seed, Early Stage Venture

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

• Geographical Presence: Chicago, Illinois

• Founded: 2010

• Notable Portfolio Companies: SPLT, Wright Electric, NanoGraf Technologies

• Portfolio Size: 47 investments

You can refer to their website here.

6. VilCap Investments

Based in San Francisco, VilCap Investments provides risk capital to early-stage companies. A key part of their model is that they invest in businesses peer-selected from Village Capital accelerator programs.

The firm invests across multiple stages, from seed to private equity, in sectors like clean energy, finance, and health care. Their portfolio includes successful exits like the financial wellness platform Vault and Vartega, an advanced materials company that recently raised $10M to scale its carbon fiber recycling.

VilCap could be a great fit if you are a founder who values a community-driven approach and plans to participate in an accelerator. Their model is well-suited for entrepreneurs who believe in peer validation and support.

Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.

• 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

• Notable Portfolio Companies: Vault, Upsie Technology, Billpocket, Kuli Kuli, Vartega

• Portfolio Size: 85 investments

• Unique Approach: Invests in peer-selected companies from Village Capital accelerator programs.

You can refer to their website here.

7. Earth Foundry

Earth Foundry is a Chicago-based venture fund that provides capital to early-stage startups in the energy and cleantech industries. The firm invests in companies developing new technologies for the power grid, energy storage, and overall efficiency.

Their portfolio highlights a focus on highly technical companies, including industrial cybersecurity leader Dragos and smart-panel maker Span. A track record of successful exits suggests an eye for backing startups with strong commercial viability.

This firm could be a strong partner if you are a founder developing a tangible energy solution at the seed or early venture stage. They appear to support companies that are creating new technologies with clear, real-world applications.

Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.

• Investment Stages: Seed, Early Stage Venture

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

• Geographical Presence: Chicago, Illinois

• Founded: 2013

• Notable Portfolio Companies: Dragos, Span, GlidePath, NanoGraf

• Portfolio Size: 35 investments

You can refer to their website here.

8. Fledge

Based in Seattle, Fledge is a global network of business accelerators focused on supporting for-profit companies with a clear social or environmental mission.

The firm invests in early-stage companies across a broad spectrum of impact-focused industries, from cleantech to financial services. Their portfolio includes companies like Evrnu, a textile recycling innovator whose NuCycl fiber was named one of TIME’s Best Inventions of 2022.

Fledge is a great match if you are a founder of a mission-driven company looking for hands-on support through an accelerator program. They are well-suited for entrepreneurs who want to build a scalable, for-profit business that also addresses a major social or environmental problem.

Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.

• Investment Stages: Seed, Early Stage Venture, Debt

• Industries of Focus: Social Impact, Sustainability, Clean Energy, Agriculture, Financial Services

• Geographical Presence: Seattle, Washington

• Founded: 2012

• Notable Portfolio Companies: Evrnu, Burn Manufacturing, Shift Labs

• Portfolio Size: 89 investments

• Unique Approach: A global network of accelerators for mission-driven, for-profit companies.

You can refer to their website here.

9. Prelude Ventures

Based in San Francisco, Prelude Ventures is a venture capital firm with a clear and direct mission to invest in climate solutions. They support companies developing new technologies across a wide range of sectors, including AgTech, carbon capture, and advanced manufacturing.

The firm invests across all stages, from seed to late-stage rounds, and has built a large portfolio with notable successes. Their track record includes high-profile unicorns like the e-scooter operator Lime and geothermal developer Fervo Energy, plus IPO exits from companies like satellite-imaging firm Planet.

Prelude Ventures could be a strong partner if you're a founder building a company with a direct and measurable impact on climate change. Their broad industry focus and multi-stage investment strategy suggest they are open to various business models, as long as the core mission aligns with decarbonization.

Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.

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

• Industries of Focus: AgTech, Automotive, Carbon Capture, Clean Energy, CleanTech, Food and Beverage, Green Building, Manufacturing

• Geographical Presence: San Francisco, California

• Founded: 2013

• Notable Portfolio Companies: Lime, Planet, Fervo Energy, Benson Hill, GreenLight Biosciences

• Portfolio Size: 150 investments

You can refer to their website here.

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

This review of venture firms shows a well-balanced investor community for the clean energy industry. There is a notable concentration of funds focused on seed and early-stage companies, which is encouraging if you are in the initial phases of building your business. This suggests strong support for new ideas and technologies.

At the same time, firms that invest across all stages provide clear paths for growth capital. The geographic diversity of these investors—with headquarters in cities from Chicago to Austin to the coasts—also indicates that opportunities are not limited to a single region. The funding environment appears healthy for founders at multiple points in their journey.

Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.

Raise Confidently with Rho

When you're raising capital, your time is your most valuable asset. A focused list of investors who understand the clean energy sector means you can direct your energy where it matters most.

We hope this guide gives you a strong starting point for your outreach. If you’ve just raised, Rho can help you set up your financial stack in minutes.

Our platform provides the tools you need to manage your new capital, with integrated business banking, corporate cards, and automated bill pay designed for growing startups.

FAQs about Venture Capital Firms Focused on Clean Energy

Which European venture capital firms invest in clean energy?

Many European VCs focus on clean energy, including EQT Ventures, Planet A Ventures, and World Fund. These firms actively support startups with strong sustainability goals and often have deep connections to the region's industrial and policy networks.

What do early-stage cleantech VC firms look for?

Early-stage cleantech VCs typically want to see a validated technology, a clear go-to-market strategy, and a founding team with deep industry expertise. Your ability to show initial customer traction or a strong pilot program is also critical.

How do impact investing venture capital firms differ from traditional VCs?

Impact investing firms prioritize measurable social or environmental benefits alongside financial returns. While traditional VCs focus mainly on profit, impact VCs evaluate your company's contribution to specific goals, like decarbonization, as a core part of their thesis.

Are there many climate tech VC firms in the Bay Area?

Yes, the Bay Area is a major hub for climate tech venture capital firms. Investors like Prelude Ventures and Creative Ventures are based there, funding innovations in everything from advanced materials to carbon capture and grid technology.

How can Rho help after I raise from a clean energy VC firm?

After securing funding, managing your capital is the next step. Rho provides integrated business banking, corporate cards, and automated bill pay, giving you the financial tools to scale your operations efficiently and with confidence.