Energize Capital (formerly Energize Ventures) is betting on software tools to streamline electricity grid interconnections, next-generation manufacturing and the circular economy. Demand for such “asset-light” climate solutions is driven by the accelerating energy transition, the reshoring of manufacturing and global supply chain shifts.
“Operators need specialist investors with deep domain expertise and operational know-how to help them scale their solutions and achieve enduring growth,” said John Tough of Energize.
The Chicago-based fund manager is investing between $10 and $20 million in companies at the Series A, B and C stages, the “post technology risk, early commercialization” sweetspot, as Tough calls it.
In February, the fund led the $30 million Series B round of Archive, a San Francisco-based company that helps retail brands monitor the condition of secondhand products.
The Energize fund also backed Denver-based Nira Energy’s grid interconnection software for energy developers, and San Francisco’s Tyba, a maker of software to optimize battery energy storage performance.
Riding the wave
Energize secured commitments from more than 80 limited partners for its third fund including Builders Vision, UBS, Första AP-Fonden, WEX Venture Capital, Capricorn Investment Group and other institutional investors in the US and Europe.
It closed its inaugural venture fund at $165 million in 2018 and raised its $330 million second fund in 2021.
WEX’s David Klein said he invested in Energize because of “their specialized expertise and investment theses across electrification, digitization, and energy infrastructure.” The fundraise brings Energize’s total assets under management to over $1.8 billion.
