Top 13 Venture Capital Firms Powering the Future of Energy Startups

For founders in the Energy sector, understanding which venture capital firms are active in your space is a critical first step when preparing to raise capital. Knowing who invests in cleantech, climate tech, and renewable energy startups helps you focus your efforts and approach the right partners.

To help with your research, our team has put together this overview of top VC firms investing in the Energy industry. This guide is designed to give you a quick summary of relevant investors so you can build a strong fundraising strategy.

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Which VC Firms in Energy Are Right for Your Stage?

Whether you're raising an early round or preparing for an exit, connecting with the right investors for your stage is crucial. We've put together a quick overview of which VC firms in the Energy sector invest at each stage to help you focus your search.

Pre-seed and Seed VC Firms in Energy

This initial funding stage is for getting your idea off the ground, typically to build a minimum viable product and validate your market. For founders of cleantech or climate tech startups, some seed stage venture capital firms to look into include Powerhouse Ventures, Breakout Ventures, and Energy Foundry.

Early Stage VC Firms in Energy

Early-stage funding, which includes Series A and B rounds, is designed for companies with a market-ready product and early traction to scale operations and growth. Among the early stage VC firms in energy that focus here are Piva, which invests in disruptive industrial startups, and GS Futures, which backs companies in sustainability and energy.

Late Stage VC Firms in Energy

Late-stage capital is for mature companies with strong revenue streams that need funding for significant expansion or to prepare for an exit like an acquisition or IPO. Examples of late stage venture capital firms include RockPort Capital Partners and Energize Capital, both of which support companies through their growth and exit phases.

Keep in mind that some VC firms, such as BP Ventures and Blue Bear Capital, are multistage investors that support companies from seed funding all the way to later rounds.

To help you find the right investors, here is a more detailed overview of top VC firms in the Energy industry. We’ve included information on their investment stages, geographic focus, and what makes each firm a compelling partner for founders.

1. Powerhouse Ventures

Based in Oakland, California, Powerhouse Ventures provides capital to seed-stage startups creating software to help decarbonize the global energy and mobility sectors. The firm, founded in 2018, concentrates on innovative companies aiming to make a significant environmental impact through technology.

The firm’s focus is squarely on software solutions, backing companies like Raptor Maps, a solar asset management platform. This specific thesis on software for decarbonization at the seed stage signals their deep expertise and conviction in this niche.

Powerhouse Ventures is a strong potential partner if you are a founder at the seed stage with a software-first approach to solving problems in energy or transportation. They are a good fit for teams building products with clear decarbonization outcomes.

• Investment stages: Seed, convertible note, and early-stage venture

• Industries of focus: CleanTech, Electric Vehicle, Energy, Renewable Energy, Software, Transportation

• Geographical presence: Oakland, California

• Founded: 2018

• Portfolio size: 47 investments

• Notable investment: Raptor Maps, a software platform for solar asset management

You can refer to their website here.

2. Breakout Ventures

Based in San Francisco, Breakout Ventures is an early-stage fund that backs scientist-entrepreneurs building new companies. Since its founding in 2016, the firm has focused on turning scientific breakthroughs into viable businesses.

The firm’s portfolio highlights a clear commitment to companies commercializing hard science, with a focus on life sciences, advanced materials, and energy. One of their notable investments is Twelve, a climate-tech company that converts captured CO₂ into sustainable jet fuel.

Breakout Ventures is a strong match for founders with deep technical backgrounds who are ready to build a company around their research. They are a good fit for seed and early-stage ventures that are rooted in scientific innovation.

• Investment stages: Early Stage Venture, Seed

• Industries of focus: Life Science, Advanced Materials, Energy

• Geographical presence: San Francisco, California

• Founded: 2016

• Portfolio size: 35 investments

• Notable investments: Twelve, Ecovative Design, Cytovale

You can refer to their website here.

3. Blue Bear Capital

Blue Bear Capital, based in Los Angeles, is a venture capital firm that supports companies applying AI and data-driven technologies to energy infrastructures. Founded in 2016, the firm is a multistage investor, providing capital from seed rounds all the way to late-stage venture.

The firm’s focus is on digital technologies that bring new efficiencies to the energy, industrial, and infrastructure sectors. Their portfolio highlights this strategy, with investments like FreeWire Technologies, a maker of battery-integrated EV chargers, and MineralSoft, an oil-and-gas asset management platform that resulted in an early exit for the firm.

Blue Bear Capital is a strong potential partner for founders building data-intensive software for these core markets. Given their ability to invest across stages, they are well-suited for companies seeking a financial partner for the long haul.

• Investment stages: Seed, convertible note, early-stage, and late-stage venture

• Industries of focus: CleanTech, Energy, Industrial, Infrastructure, SaaS, Software

• Geographical presence: Los Angeles, California

• Founded: 2016

• Portfolio size: 67 investments

• Notable investments: FreeWire Technologies, MineralSoft, TruckLabs, Mission Secure

You can refer to their website here.

4. Piva Capital

Piva Capital is a venture firm based in San Francisco that invests in early-stage companies aiming to reshape the energy and industrial sectors. Since its founding in 2019, the firm has focused on backing founders who are building new technologies for a more sustainable future.

The firm’s portfolio shows a strong appetite for deep technology in both hardware and software, with investments like Boston Metal, which is developing zero-carbon steel. Their track record includes notable exits, such as the acquisition of Sense Photonics and Velo3D's public offering, signaling their ability to support companies through to liquidity events.

Piva Capital is a compelling partner for founders with a strong technical background who are building companies to modernize core industries. They are a good fit for early-stage ventures that require a deep understanding of industrial processes and energy systems.

• Investment stages: Early Stage Venture

• Industries of focus: Energy, Industrial, Software

• Geographical presence: San Francisco, California

• Founded: 2019

• Portfolio size: 25 investments

• Notable investments: Boston Metal, Velo3D, Lunar Energy, Menlo Micro

You can refer to their website here.

5. Energy Innovation Capital

Based in Orinda, California, Energy Innovation Capital (EIC) invests in companies creating technology for an abundant, clean, and accessible energy future. Since its founding in 2016, the firm has backed businesses that are developing the next generation of energy solutions.

EIC’s portfolio shows a clear focus on companies with tangible technologies, including Infinitum’s efficient motors and Moleaer’s nanobubble generators. The firm has a history of successful exits, such as the acquisition of Fluence Analytics, signaling its ability to guide companies toward liquidity events.

This firm is a strong potential partner for founders building hardware or deep-tech products that solve major challenges in the energy industry. With a multistage investment approach, EIC can support companies from early development through to significant growth.

• Investment stages: Early-stage and late-stage venture

• Industries of focus: Energy

• Geographical presence: Orinda, California

• Founded: 2016

• Portfolio size: 48 investments

• Notable investments: Infinitum, Moleaer, ConnectDER, Fluence Analytics

You can refer to their website here.

6. Valhalla Ventures

Valhalla Ventures is a Los Angeles-based firm founded in 2020 that invests in early-stage companies. Their strategy centers on backing businesses that are building "enduring moats"—strong, sustainable competitive advantages.

The firm invests across a wide range of industries, from space travel and biotechnology to energy and advanced materials. Their portfolio includes companies like Jaza, an off-grid solar provider, and Rain, which develops autonomous firefighting helicopters, showing a clear interest in businesses tackling major physical-world challenges.

Valhalla Ventures is a good match for founders building companies with deep technological or scientific foundations. If your startup is creating a strong, defensible position in a complex industry like energy, manufacturing, or biotech, their focus on long-term value could be a good fit.

• Investment stages: Seed and early-stage venture

• Industries of focus: Energy, Sustainability, Advanced Materials, Biotechnology, Space Travel

• Geographical presence: Los Angeles, California

• Founded: 2020

• Portfolio size: 23 investments

• Notable investments: Jaza, Rain, K2 Space, Biofire

You can refer to their website here.

7. Energize Capital

Energize Capital is a Chicago-based investment firm that funds companies focused on the digitization of energy and sustainable industries. Since its founding in 2016, the firm has built a global portfolio of technology-driven businesses.

The firm’s strategy centers on software and digital technologies that improve sustainability, as seen in portfolio companies like Aurora Solar, a platform for solar design. Energize Capital has a strong record of exits, including the IPO of Fast Radius and the acquisition of Volta Charging.

Energize Capital is a good fit for founders building software or digital tools for the energy, construction, and sustainability markets. Because they invest across stages, they can be a valuable partner for companies seeking support from early growth through to an exit.

• Investment stages: Early-stage and late-stage venture

• Industries of focus: Sustainability, Energy, Construction, Renewable Energy, Finance

• Geographical presence: Chicago, Illinois

• Founded: 2016

• Portfolio size: 50 investments

• Notable investments: Aurora Solar, Volta Charging, Monta, Fast Radius

You can refer to their website here.

8. BP Ventures

BP Ventures is the corporate venture capital arm of the global energy company BP. Based in Palo Alto and founded in 2012, the firm invests in private, high-growth technology companies that align with BP's strategic direction.

As a multistage investor, BP Ventures supports companies from seed to late-stage rounds, focusing on technologies that can scale within the energy industry. Their portfolio includes companies like StoreDot, a developer of ultra-fast-charging batteries, and Beyond Limits, an AI company that secured a major Series C after BP's initial investment.

The firm is a strong potential partner for founders developing technologies with clear applications for a large, industrial enterprise. If your company operates in areas like mobility, clean energy, or advanced AI for industrial use, BP Ventures offers both capital and a potential pathway to strategic partnership.

• Investment stages: Seed, early-stage, and late-stage venture

• Industries of focus: Energy, Innovation Management

• Geographical presence: Palo Alto, California

• Founded: 2012

• Portfolio size: 98 investments

• Notable investments: StoreDot, Lightning eMotors, Beyond Limits, RepairPal

• Investor type: Corporate Venture Capital

You can refer to their website here.

9. GS Futures

GS Futures is a corporate venture capital firm based in San Mateo, California, that makes strategic, early-stage investments. Founded in 2020, the firm concentrates on companies in the energy, sustainability, and retail sectors.

The firm’s portfolio shows a clear preference for backing companies with unicorn potential, such as blockchain protocol LayerZero Labs and autonomous drone maker Skydio. Their successful exit with the acquisition of energy analytics company AutoGrid also signals their ability to support companies through to a realized return.

GS Futures is a strong potential partner for founders of seed and early-stage companies with ambitious, high-growth models. If your startup is operating in their key industries and has a clear path to market leadership, their strategic approach could be a good fit.

• Investment stages: Early Stage Venture, Seed

• Industries of focus: Construction, Consumer, Energy, Real Estate, Sustainability

• Geographical presence: San Mateo, California

• Founded: 2020

• Portfolio size: 40 investments

• Notable investments: Skydio, LayerZero Labs, Nowports, Heirloom, AutoGrid

• Investor type: Corporate Venture Capital

You can refer to their website here.

10. Earth Foundry

Energy Foundry is a Chicago-based venture fund that has been backing early-stage energy and cleantech startups since 2013. The firm provides capital to companies building solutions for a cleaner, more efficient energy future.

A look at their portfolio reveals a focus on both hardware and software, from smart-panel maker Span to industrial cybersecurity leader Dragos. The firm has a history of successful exits, including renewable developer GlidePath, which signals their ability to guide companies toward liquidity.

Energy Foundry is a good match for early-stage founders building technology for the energy, grid, and cleantech sectors. If your company has a strong technical foundation and a clear impact-oriented mission, their focused expertise could be a strong fit.

• Investment stages: Early Stage Venture, Seed

• Industries of focus: CleanTech, Energy, Power Grid, Impact Investing

• Geographical presence: Chicago, Illinois

• Founded: 2013

• Portfolio size: 35 investments

• Notable investments: Dragos, Span, NanoGraf, GlidePath

You can refer to their website here.

11. Ventioneers

Ventioneers is a Houston-based venture capital firm founded in 2023 to back entrepreneurs in Deep-Tech, SaaS, AI, and the Energy industry. The firm operates with a flexible model, investing from seed rounds and early-stage venture all the way to the secondary market.

The firm’s strategy is distinguished by its investments in high-profile, late-stage technology companies, including secondary stakes in SpaceX, ByteDance, and Stripe. This focus on acquiring shares in established leaders, such as SpaceX's recent share sale, suggests a model that provides its partners with access to top-tier private assets.

Ventioneers is a compelling match for founders looking for a financial partner with a broad and flexible capital structure. Their focus on both early-stage ventures and secondary investments in major tech firms may appeal to energy startups seeking a unique network and diverse funding options.

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

• Industries of focus: Energy, Generative AI, SaaS, Manufacturing, Deep-Tech

• Geographical presence: Houston, Texas

• Founded: 2023

• Portfolio size: 20 investments

• Notable investments: SpaceX, ByteDance (TikTok), Stripe, Neuralink, Anthropic

• Investor type: Venture Capital, Fund of Funds, Secondary Purchaser, Syndicate

You can refer to their website here.

12. WindSail Capital Group

Based in Boston, WindSail Capital Group is an investment firm that provides growth capital to early commercial companies in the energy and sustainability sectors. Since its founding in 2013, the firm has focused on supporting businesses that are ready to scale their operations.

A key feature of WindSail’s approach is its use of flexible financing, offering debt in addition to traditional venture equity. Their portfolio shows this strategy in action, with investments in companies like wastewater-treatment firm BlueInGreen and personal weather-station maker WeatherFlow-Tempest, both of which have tangible products in the market.

WindSail is a strong match for founders whose companies are past the initial R&D phase and are generating early revenue. If your business needs capital to grow but you want to explore options beyond dilutive equity financing, their model could be a compelling fit.

• Investment stages: Debt, Seed, Venture

• Industries of focus: Energy, Financial Services, Sustainability

• Geographical presence: Boston, Massachusetts

• Founded: 2013

• Portfolio size: 41 investments

• Notable investments: BlueInGreen, Purple Carrot, WeatherFlow-Tempest, Go Electric, Nanoramic Laboratories

You can refer to their website here.

13. RockPort Capital

RockPort Capital is a Boston-based venture firm that has been investing in energy, mobility, and sustainability companies since 1998. Their long history gives them deep experience in these core industrial and technology sectors.

The firm is notable for its ability to invest across a company's entire lifecycle, from early rounds to post-IPO and private equity stages. Their portfolio highlights a track record of significant exits, including EnerNOC's acquisition by Enel X and Digital Lumens' acquisition by Osram.

RockPort is a strong potential partner for founders who need a long-term financial backer with the capacity to support them through multiple growth phases. If your company is building technology in the energy or sustainability space and has a clear path to a major exit, their experience is highly relevant.

• Investment stages: Early Stage Venture, Late Stage Venture, Post-IPO, Private Equity

• Industries of focus: Energy, Mobility, Sustainability

• Geographical presence: Boston, Massachusetts

• Founded: 1998

• Portfolio size: 107 investments

• Notable investments: EnerNOC, Digital Lumens, Qnovo, NewLeaf Symbiotics

You can refer to their website here.

What This Tells Us About The VC Scene for Energy Companies

This overview shows a healthy and varied funding environment for companies in the energy sector. You’ll find a solid balance between firms that focus on early-stage rounds and multistage investors that can support a company through its entire lifecycle. This means that whether you are raising a seed round or preparing for late-stage growth, there are specialized partners available.

While there is a strong concentration of investors in California, you can also find key firms in other hubs like Chicago, Boston, and Houston. The variety of investor types—from corporate VCs to those offering flexible debt—gives you more options to consider. For founders, this points to a mature market with multiple pathways to secure the right capital for your specific needs.

Raise Confidently with Rho

Fundraising requires significant time and effort, so having a focused list of relevant investors is a major asset. It allows you to concentrate your outreach on the partners who are the best fit for your company.

When you've successfully raised capital, the next step is putting it to work efficiently. Rho can help you set up your financial stack in minutes.

We help you manage your newly raised capital with integrated solutions built for growing companies. Our platform includes business banking, corporate cards, and automated bill pay to support your team.

FAQs about Venture Capital Firms Focused on Energy

Are there many clean energy venture capital firms in Europe?

Yes, Europe has a growing number of venture firms focused on clean energy. Investors like EQT Ventures and World Fund are active in the region, backing startups that are developing new technologies for sustainability and decarbonization across the continent.

Which cleantech VC firms invest in Asia?

Several cleantech VC firms are active in Asia, including Wavemaker Partners in Singapore and Blume Ventures in India. These firms often back early-stage companies that are creating solutions for regional energy and environmental challenges.

What are micro VC firms in the energy sector?

Micro VC firms are smaller venture funds, typically investing at the pre-seed and seed stages. In the energy sector, they provide critical early capital to help founders validate their technology and find initial product-market fit before approaching larger funds.

What is the difference between corporate and traditional energy VC firms?

Traditional VCs are independent financial firms, while corporate VCs are investment arms of large companies. Corporate VCs, like BP Ventures, often provide strategic value and potential partnerships in addition to capital, aligning with the parent company's goals.

How do I prepare to approach climate tech venture capital firms?

Before approaching investors, have a clear business plan, a validated product or technology, and a deep understanding of your target market. Research each firm to ensure your company aligns with their investment thesis and portfolio.

How can I manage my funding after a successful raise?

Once you secure funding, it's important to have a strong financial foundation. Our platform helps you manage your capital with business banking, corporate cards, and automated payments. You can get started with Rho in minutes.