Top 13 Venture Capital Firms Powering the Future of Energy Startups
Seeking funding for your energy startup? We've identified 13 active VC firms. After you close your round, Rho helps you manage the capital with ease.
Rho Editorial Team
For founders in the Energy sector, preparing to raise capital means more than just perfecting your pitch. It’s about finding investors who truly understand the specifics of cleantech, climate tech, and renewable energy. The right partner can make all the difference.
To help you find a good match, our team at Rho has curated this overview of top venture capital firms active in the space. Use this guide to quickly identify the investors most relevant to your business, whether you're at the seed stage or preparing for later-stage growth.
Rho provides access to business banking, corporate cards, and bill pay — built for startup teams moving fast.
Key Takeaways
Securing venture funding in the energy sector is about finding a partner with deep industry knowledge, not just a source of capital.
Top VCs active in the energy industry include Powerhouse Ventures, Breakout Ventures, Blue Bear Capital, and Piva Capital, which are notable backers of startups in this space.
Once you close a round, Rho helps you manage your new capital with integrated business banking, corporate cards, and automated bill pay.
Which VC Firms in Energy Are Right for Your Stage?
Whether you're raising your first round or preparing for a later stage, it's important to connect with the right people. Below is a quick summary of active VC firms in the energy space, broken down by their investment stage.
Pre-seed and Seed VC Firms in Energy
This is often the first institutional capital a startup raises, intended to help you develop your initial product and find early market traction. For founders in the cleantech and renewable energy sectors, firms like Powerhouse Ventures and Breakout Ventures focus on this critical stage, while Energy Foundry is another key investor for early-stage energy startups.
Early Stage VC Firms in Energy
Early-stage funding, typically Series A or B, is for companies with a proven product that are ready to build out their team and scale commercially. Climate tech venture capital firms such as Piva Capital and Energy Innovation Capital are active at this stage, backing companies that are prepared for significant growth.
Late Stage VC Firms in Energy
Late-stage rounds support established companies as they expand into new markets, scale operations globally, or prepare for an exit through an IPO or acquisition. Investors like RockPort Capital Partners and Ventioneers provide capital for these more mature businesses on their path to liquidity.
It's also worth noting that some energy technology venture capital firms, such as Blue Bear Capital and BP Ventures, invest across multiple stages from seed to growth. Once your funding is secured, Rho’s integrated financial tools—including business banking, corporate cards, and automated bill pay—help you manage and deploy that new capital efficiently.
Here is a closer look at the top VC firms focusing on the energy sector. We've included key details on their investment stages, geographic focus, and what makes each firm a strong potential partner for founders.
1. Powerhouse Ventures
Based in Oakland, Powerhouse Ventures invests in seed-stage startups that use software to help decarbonize the energy and mobility sectors. They concentrate on backing founders who are building innovative digital solutions for a cleaner global economy.
The firm has a clear focus on software-based models within cleantech and transportation, rather than capital-intensive hardware. A notable portfolio company is Raptor Maps, a solar asset management platform, which shows their interest in software that supports the renewable energy industry.
This firm is a strong potential partner if you are a seed-stage founder with a software product aimed at decarbonization. Their specific focus suggests they provide targeted support for companies with this business model.
Investment stages: Seed and early-stage venture
Industries of focus: CleanTech, Electric Vehicle, Energy, Renewable Energy, Software, Transportation
Geographical presence: Oakland, CA
Founded: 2018
Notable portfolio company: Raptor Maps
Portfolio size: 47 investments
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. They focus on companies built on creative breakthroughs in biosciences and engineering.
The firm’s portfolio shows a clear interest in deep tech, with investments in companies like Twelve, a climate-tech unicorn that converts CO₂ into sustainable jet fuel. This focus signals their comfort with complex, science-first businesses that have the potential for significant impact.
Breakout Ventures is a strong potential partner if you are a founder with a deep scientific background building a business in advanced materials, life sciences, or energy. They specialize in helping technical founders bring complex innovations to market.
Investment stages: Seed and early-stage venture
Industries of focus: Advanced Materials, Energy, Life Science
Geographical presence: San Francisco, CA
Founded: 2016
Notable portfolio companies: Twelve, Ecovative Design
Portfolio size: 35 investments
You can refer to their website here.
3. Blue Bear Capital
Blue Bear Capital is a Los Angeles-based firm that backs companies applying AI and data-driven technologies to energy infrastructure. They invest across the full lifecycle of a company, from seed rounds to late-stage venture.
The firm has a distinct focus on digital-first solutions that improve the energy, industrial, and infrastructure sectors. Their portfolio includes companies like FreeWire Technologies, which makes battery-integrated EV chargers, and Mission Secure, a cybersecurity company for critical energy infrastructure.
Blue Bear Capital is a strong potential partner if you are building a data-driven or software-based business aimed at the energy sector. Their wide investment range from seed to late-stage suggests they can support companies throughout their growth journey.
Investment stages: Seed to late-stage venture
Industries of focus: CleanTech, Energy, Industrial, Infrastructure, SaaS, Software
Geographical presence: Los Angeles, CA
Founded: 2016
Notable portfolio companies: FreeWire Technologies, TruckLabs, Mission Secure
Portfolio size: 67 investments
You can refer to their website here.
4. Piva Capital
Piva Capital is a San Francisco-based venture firm that invests in early-stage companies working to transform the energy and industrial sectors. They back founders who are building new technologies with the potential for significant global impact.
The firm has a clear preference for companies with deep technical foundations, as seen in its portfolio which includes Boston Metal, a pioneer in zero-carbon steel, and Velo3D, a metal additive-manufacturing company. Their track record includes successful exits, signaling their ability to guide companies toward major liquidity events.
Piva Capital is a good fit if you are an early-stage founder developing a complex technology for the industrial or energy markets. Their experience with companies that have achieved successful exits makes them a valuable partner for founders with long-term growth ambitions.
Investment stages: Early Stage Venture
Industries of focus: Energy, Industrial, Software
Geographical presence: San Francisco, CA
Founded: 2019
Notable portfolio companies: Boston Metal, Velo3D, Lunar Energy
Portfolio size: 25 investments
Notable exits: 2
You can refer to their website here.
5. Energy Innovation Capital
Energy Innovation Capital (EIC) invests in companies developing the next generation of technology for clean and accessible energy. Based in Orinda, California, the firm supports businesses that are advancing the energy industry.
The firm invests from early to late stages, backing companies with tangible products that are ready to scale. Their portfolio shows a focus on businesses with strong market validation, such as Infinitum, a near-unicorn motor technology company, and Fluence Analytics, which resulted in a successful exit.
EIC is a strong potential partner for founders whose companies have moved beyond the initial product stage and are looking for support through significant growth. If your business has a proven technology and is preparing for commercial expansion, their track record with scaling companies could be valuable.
Investment stages: Early to late-stage venture
Industries of focus: Energy
Geographical presence: Orinda, CA
Founded: 2016
Notable portfolio companies: Infinitum, Moleaer, Tado
Portfolio size: 48 investments
Notable exits: 5
You can refer to their website here.
6. Valhalla Ventures
Valhalla Ventures is a Los Angeles-based firm that backs seed and early-stage companies. Their investment thesis centers on businesses with deep, defensible advantages, or what they call “enduring moats.”
The firm invests across a wide range of industries, from energy and sustainability to space travel and biotech. Their portfolio highlights a focus on complex challenges, with companies like Jaza, an off-grid solar provider, and Rain, which develops autonomous firefighting helicopters.
Valhalla Ventures is a strong match if you are a founder building a business with a significant technical or scientific barrier to entry. They are well-suited for teams tackling ambitious problems in sectors like energy, advanced manufacturing, and biotechnology.
Investment stages: Seed, Early Stage Venture
Industries of focus: Energy, Sustainability, Space Travel, Biotechnology, Advanced Materials
Geographical presence: Los Angeles, CA
Founded: 2020
Notable portfolio companies: Jaza, K2 Space, Rain, Biofire
Portfolio size: 23 investments
You can refer to their website here.
7. Energize Capital
Energize Capital is a Chicago-based investment manager with a global reach, concentrating on the digitization of energy and sustainable industries. They back companies that are applying software and data to transform these critical sectors.
The firm invests across the company lifecycle, from early to late-stage venture, and has a history of guiding companies to successful exits, including IPOs and acquisitions. Their portfolio includes companies like Aurora Solar, a software platform for solar sales, and Monta, an operating system for the EV-charging ecosystem.
Energize Capital is a good match for founders building software-driven businesses in the energy, construction, or sustainability sectors. Their ability to invest across stages makes them a valuable partner for companies seeking long-term support from initial growth through to a potential exit.
Investment stages: Early to late-stage venture
Industries of focus: Energy, Sustainability, Construction, Renewable Energy, Finance
Geographical presence: Chicago, IL
Founded: 2016
Notable portfolio companies: Aurora Solar, Monta, Volta Charging (exited)
Portfolio size: 50 investments
Notable exits: 3
You can refer to their website here.
8. BP Ventures
BP Ventures is the corporate venture capital arm of BP, identifying and investing in high-growth technology companies. Based in Palo Alto, they focus on innovations that can support the global energy system.
The firm invests across all stages, from seed to late-stage, and has a track record of successful exits, including the acquisition of RepairPal. Their portfolio features deep-tech companies like StoreDot, a unicorn developing ultra-fast-charging batteries, and Beyond Limits, an AI company commercializing NASA technology.
BP Ventures is a strong potential partner for founders building technology with clear applications for the energy industry. Their corporate backing can provide strategic value beyond just capital, especially for companies ready to scale.
Investment stages: Seed to late-stage venture
Industries of focus: Energy, Innovation Management
Geographical presence: Palo Alto, CA
Founded: 2012
Investor type: Corporate Venture Capital
Portfolio size: 98 investments
Notable exits: 14
You can refer to their website here.
9. GS Futures
GS Futures is a corporate venture capital firm based in San Mateo that makes early-stage, strategic investments. They primarily focus on companies in the energy, sustainability, and construction sectors.
The firm’s portfolio shows a clear interest in high-growth companies, including unicorns like the direct-air-capture startup Heirloom and the blockchain protocol LayerZero Labs. Their investment in AutoGrid, an energy-data analytics company that had a successful exit, also signals their ability to support companies to a realized return.
GS Futures is a strong potential partner for seed and early-stage founders building businesses in their core industries. As a corporate VC, they can provide strategic connections and industry expertise beyond just capital.
Investment stages: Seed, Early Stage Venture
Industries of focus: Construction, Consumer, Energy, Real Estate, Sustainability
Geographical presence: San Mateo, CA
Founded: 2020
Notable portfolio companies: Heirloom, LayerZero Labs, Nowports, Skydio
Portfolio size: 40 investments
Notable exits: 1
Investor type: Corporate Venture Capital
You can refer to their website here.
10. Earth Foundry
Energy Foundry is a Chicago-based venture fund that invests in early-stage energy and cleantech companies. They focus on businesses that are building the future of the grid, energy storage, and efficiency.
The firm’s portfolio shows a focus on foundational technologies for the energy industry, from industrial cybersecurity leader Dragos to smart-panel maker Span. Their track record of successful exits and support for companies that reach unicorn status signals an ability to back businesses with high-growth potential.
Energy Foundry is a good match for early-stage founders building businesses in energy, grid technology, or cleantech. They are well-suited to support companies with either software or hardware solutions that address critical industry needs.
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, Power Grid, Energy Storage
Geographical presence: Chicago, IL
Founded: 2013
Notable portfolio companies: Dragos, Span, NanoGraf
Portfolio size: 35 investments
Notable exits: 5
You can refer to their website here.
11. Ventioneers
Based in Houston, Ventioneers is a venture firm that invests in deep tech, SaaS, AI, and energy startups. They support companies across the entire lifecycle, from seed rounds to late-stage and secondary market opportunities.
The firm’s model is distinctive, operating as a venture fund, syndicate, and secondary market purchaser. This flexibility is reflected in a portfolio that includes secondary investments in global leaders like SpaceX and TikTok parent ByteDance, signaling a focus on high-profile, late-stage opportunities alongside earlier ventures.
Ventioneers could be a good partner if you are a founder in deep tech or energy who values a flexible investor with a broad network. Their activity across stages suggests they can provide long-term support and unique market access.
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, late-stage, and secondary market
Industries of focus: Deep-Tech, SaaS, Energy, AI, Manufacturing
Geographical presence: Houston, TX
Founded: 2023
Notable portfolio companies: SpaceX, ByteDance (TikTok), Stripe, Anthropic
Portfolio size: 20 investments
Investor type: Venture Capital, Syndicate, Secondary Purchaser
You can refer to their website here.
12. WindSail Capital Group
WindSail Capital Group is a Boston-based firm that provides growth capital to companies in the energy and sustainability sectors. They focus on businesses that are in their early commercial stages and are ready to scale.
A key aspect of WindSail's approach is its flexible financing, offering debt in addition to traditional seed and venture equity. Their portfolio shows a history of successful exits, including the acquisition of wastewater-treatment firm BlueInGreen and microgrid provider Go Electric.
WindSail is a strong potential partner if you lead an early commercial-stage company and need flexible growth capital beyond just equity. Their focus on both energy innovation and sustainability makes them a good fit for founders in those specific 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: Debt, Seed, Venture
Industries of focus: Energy, Sustainability, Financial Services
Geographical presence: Boston, MA
Founded: 2013
Notable portfolio companies: BlueInGreen (exited), Purple Carrot (exited), Nanoramic Laboratories
Portfolio size: 41 investments
Notable exits: 13
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. They provide capital to businesses focused on creating more efficient and sustainable industrial and consumer systems.
The firm's track record shows a focus on guiding companies to major liquidity events, with 25 exits from its portfolio. Notable successes include the energy management company EnerNOC, which went public and was later acquired, and smart-lighting provider Digital Lumens.
RockPort Capital is a strong potential partner for founders with established businesses in the energy or sustainability sectors. Their experience with late-stage growth, IPOs, and acquisitions makes them a good fit for companies on a clear path to scale.
Investment stages: Early to late-stage venture, private equity, post-IPO
Industries of focus: Energy, Energy Efficiency, Sustainability
Geographical presence: Boston, MA
Founded: 1998
Notable portfolio companies: EnerNOC (exited), Digital Lumens (exited), Qnovo
Portfolio size: 107 investments
Notable exits: 25
You can refer to their website here.
What This Tells Us About The VC Scene for Energy Companies
The investor group for energy companies appears both active and well-rounded. There is a healthy mix of firms that focus on seed and early-stage rounds, as well as larger, multi-stage investors prepared to back companies from their first check through to an exit. This balance suggests that founders can find appropriate capital partners regardless of their company’s current stage.
While California is home to many of these firms, you can also find key investors in other major cities like Chicago, Boston, and Houston. This gives you a broader field of potential partners to connect with. As you move forward, remember that securing funding is just the first step. Once capital is in the bank, Rho’s integrated financial tools—including business banking, corporate cards, and automated bill pay—help you manage and deploy it efficiently.
Raise Confidently with Rho
Fundraising requires significant time and focus. We created this list to help you connect with the right investors for your energy company, so you can spend your resources wisely.
Once you've secured your funding, the next step is managing it well. Rho can help you set up your financial stack in minutes.
Our platform offers integrated business banking, corporate cards, and automated bill pay. These tools are built to help you manage and deploy your new capital with confidence.
FAQs about Venture Capital Firms Focused on Energy
Which cleantech VC firms are in the Bay Area?
The Bay Area is a key hub for cleantech investment. Many top firms are based there, including Powerhouse Ventures, Breakout Ventures, and Piva Capital, all of which focus on early-stage companies transforming the energy sector.
Are there climate tech VC firms in Europe?
Yes, Europe has a growing number of climate tech VC firms. While our list focuses on US investors, you can find active funds in cities like London, Berlin, and Stockholm that specialize in energy and sustainability startups.
What do seed stage energy VC firms look for?
Seed-stage energy VCs typically look for a strong founding team with deep industry knowledge. They also want to see a clear technological advantage and a compelling vision for addressing a significant problem in the energy market.
How are corporate VCs different from traditional VCs?
Corporate venture capital (CVC) arms, like BP Ventures, are part of larger corporations. Beyond funding, they can offer strategic benefits like industry expertise, partnership opportunities, and access to a global customer base for your energy startup.
How can I manage my new funding effectively?
Once you secure funding, managing it is key. Rho provides an all-in-one platform with business banking, corporate cards, and automated payments to help you deploy your capital with confidence. You can get started here.