Top Energy (Climate Tech) Venture Capital Firms

A seismic shift is underway in the global energy landscape, and at its heart are innovative startups developing groundbreaking technologies. Fueling these pioneers are sophisticated energy venture capital (VC) firms.

These specialized investors provide the critical capital and strategic guidance necessary to scale technologies that will define a cleaner, more efficient, and sustainable future.

In this article, we’ll explore the top energy venture capital firms, highlighting their investment focus, notable portfolio companies, and their pivotal role in the energy transition.

1. Breakthrough Energy Ventures

Breakthrough Energy Ventures (BEV) is a more than $3.5 billion family of investment funds founded by Bill Gates to accelerate the clean energy transition. The firm invests in visionary entrepreneurs building companies with the potential to reduce annual global greenhouse gas emissions by at least half a gigaton.

BEV’s investment scope is broad, targeting five key sectors responsible for the majority of emissions: electricity, transportation, manufacturing, buildings, and agriculture. Their patient capital approach allows them to support companies through long development cycles, a necessity for many deep-tech energy startups.

With a team of scientific experts, operators, and policy specialists, BEV provides more than just funding. They offer deep technical and market expertise to help their portfolio companies navigate the path to commercialization.

The firm has plenty of notable investments. These include Form Energy, which is developing long-duration energy storage; Commonwealth Fusion Systems, a leader in the race to commercialize fusion energy; and ZeroAvia, which is creating hydrogen-electric aviation solutions.

BEV’s strategy is to fill critical gaps in climate technology, backing bold ideas that can achieve a global scale.

2. Energy Impact Partners

Energy Impact Partners (EIP) is a global investment firm with over $4.5 billion in assets under management, dedicated to leading the transition to a sustainable energy future. What sets EIP apart is its unique collaborative model, which brings together a coalition of over 65 forward-thinking industrial and utility partners.

This partnership provides portfolio companies with unparalleled access to market intelligence, pilot opportunities, and deployment channels. This helps them significantly de-risk the commercialization process for energy startups.

EIP invests across venture, growth, and credit stages, focusing on companies that are decarbonizing the energy, industrial, and mobility sectors. The firm’s "Flagship" strategy targets growth-stage companies, while its "Frontier" fund focuses on revolutionary early-stage technologies.

Key portfolio companies include Arcadia, a clean energy platform for consumers; Dragos, an industrial cybersecurity leader protecting critical infrastructure; and Powin Energy, a provider of utility-scale battery storage solutions. EIP’s hands-on, collaborative approach has made it a central player in accelerating innovation for a better energy future.

3. DCVC (Data Collective)

DCVC is a venture capital firm that backs entrepreneurs using “deep tech” to solve some of the world’s most complex problems, with a significant focus on climate and energy.

The firm’s investment thesis is centered on companies that leverage a computational advantage such as AI and machine learning to create transformative solutions for massive industries.

DCVC’s climate-tech strategy aims to fund businesses that can have a tangible impact on decarbonization and resource optimization.

With funds like its specialized DCVC Climate fund, the firm invests in areas like advanced energy generation, industrial efficiency, and sustainable materials. A standout investment is Fervo Energy, a pioneer in enhanced geothermal systems that is unlocking a vast source of clean, firm power.

Other notable portfolio companies include Brimstone, which is developing a process to make carbon-negative Portland cement, and Twelve, a company turning captured CO₂ into essential products like sustainable aviation fuel (SAF).

DCVC’s focus on computationally-driven solutions positions it at the forefront of the next wave of industrial and energy innovation.

4. Lowercarbon Capital

Founded by renowned investors Chris and Crystal Sacca, Lowercarbon Capital is a venture capital firm with a singular, urgent mission: to "un-f*ck the planet." The firm backs ambitious founders who are developing technologies to slash CO₂ emissions, remove carbon from the atmosphere, and cool the planet.

With over $2.4 billion in assets under management, Lowercarbon invests across the full spectrum of climate tech. From energy and transportation to food, industrial chemicals, and carbon removal, Lowercarbon has its footprints in most climate tech companies.

The firm’s strategy is characterized by bold, often early-stage bets on companies with the potential for gigaton-scale impact.

They are known for moving quickly and decisively to support startups tackling the hardest climate problems. Their extensive portfolio includes Solugen, which uses bio-based processes to create carbon-negative chemicals; Crusoe Energy, a company that powers data centers with otherwise flared natural gas; and Zap Energy, a startup pursuing a novel approach to fusion energy.

Lowercarbon's aggressive and founder-friendly approach has made it one of the most active and influential investors in the climate tech space.

5. Congruent Ventures

Congruent Ventures is an early-stage venture fund that partners with entrepreneurs to build companies addressing critical sustainability challenges. The firm invests across four major themes: Mobility & Urbanization, the Clean Energy Transition, Food & Agriculture, and Sustainable Production & Consumption.

Congruent typically provides seed and Series A funding, leveraging its deep industry experience to help founders navigate the early stages of growth.

This VC fund has demonstrated a strong commitment to its portfolio companies. In fact, in 2023, they announced a $300 million "Continuity Fund" to provide follow-on capital and support their journey to commercialization.

This strategy allows them to back high-potential companies for the long term. Notable investments include AMP Robotics, which uses AI and robotics to improve recycling efficiency; Span.IO, a company reinventing the home electrical panel for the renewable energy era; and Meati Foods, a producer of alternative proteins from mushroom root.

Congruent’s focus on foundational, early-stage innovation makes it a key enabler of the next generation of climate and energy leaders.

6. Activate Capital

Activate Capital is a growth-stage venture capital firm focused on the sustainable transformation of our industrial, energy, and mobility systems. The firm partners with purpose-driven entrepreneurs whose companies are ready to scale, backing businesses that are creating the category-defining platforms of the future.

Activate’s investment thesis is built around the "sustainability supercycle," targeting the megatrends of how we power, produce, and move in a more resilient and efficient way.

Activate provides both the capital and the operational expertise necessary for high-growth companies to expand their market presence. Their portfolio is composed of businesses that are transforming major industries with technology-driven solutions.

Key investments include Generate Capital, a leading sustainable infrastructure company; PosiGen, which provides access to solar and energy efficiency for low- and moderate-income households; and STEM, a global leader in AI-powered energy storage software and services.

Activate’s focus on scaling proven technologies positions it as a critical partner for companies moving from innovation to market leadership.

Let’s Recap

The world's transition to a sustainable future is being driven by technological innovation, and clean energy venture capital firms are the essential engine for this progress. These investors provide the patient capital, deep domain expertise, and strategic networks that startups need to tackle some of the most challenging and important problems of our time.

From next-generation solar and fusion to carbon capture and grid modernization, these firms are building the industries of tomorrow.

If you're an entrepreneur or a business owner looking to take your company to the next level, identifying the right VC firm is crucial. Private Equity List makes this process easier by providing a fast and easy-to-use platform to identify relevant investment firms for your project.

Whether you're a pre-seed startup or a growth-stage company, Private Equity List connects you with the right investors.

Sign up for free today at Private Equity List and find the perfect partner to help grow your business.

Read More

• Venture Capital (VC) Valuation Methods For Startups
• Venture Capital: Advantages and Disadvantages Explored
• Venture Capital Fundraising Process
• Corporate Venture Capital vs Venture Capital: Key Differences

Frequently Asked Questions