Top 13 Venture Capital Firms Powering the Future of Energy Startups

When you're preparing to raise capital for your startup, knowing which investors specialize in the energy sector is essential. Approaching the right firms saves you valuable time and connects you with partners who genuinely understand your business and its potential.

To help you find a great match, our team has put together this overview of top venture capital firms investing in energy, cleantech, and climate tech. Use this guide to quickly identify the most relevant investors for your company, whether you're actively fundraising or planning your next round.

Actively raising? You can now access non-dilutive funding options like venture debt and credit lines through Rho Capital. Rho also provides access to business banking, corporate cards, and bill pay—built for startup teams moving fast.

Key Takeaways

• For startups in the energy sector, securing venture funding provides the capital to scale complex technologies, expand operations, and make a significant market impact.
• Leading venture capital firms like Powerhouse Ventures, Breakout Ventures, Blue Bear Capital, and Piva Capital are notable backers in the energy industry, providing specialized support to growing companies.
• Whether you are actively fundraising or have recently closed 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 your company is in its early stages or preparing for an exit, it helps to know which investors to talk to. Here is a quick overview of venture capital firms in the energy sector, broken down by their typical investment stage.

Pre-seed and Seed VC Firms in Energy

Pre-seed and seed funding is the earliest capital you'll raise, used to validate your idea, build a minimum viable product, and make key hires. Several cleantech VC firms focus here, including Powerhouse Ventures, GS Futures, and Energy Foundry.

Early Stage VC Firms in Energy

Early-stage funding, which includes Series A and B rounds, is for startups with proven traction that need capital to scale their team, product, and market presence. Examples of early-stage climate tech VC firms include Piva Capital and Breakout Ventures, which backs scientist-entrepreneurs.

Late Stage VC Firms in Energy

Late-stage venture capital is designed for established companies preparing for major growth, an acquisition, or an initial public offering (IPO). Firms like Energize Capital and RockPort Capital Partners are known for backing more mature companies on their path to an exit.

It's also worth noting that many venture capital firms, such as Blue Bear Capital and BP Ventures, are multistage investors that provide support across all funding stages. To complement your equity fundraising at any stage, Rho Capital can connect you to non-dilutive funding options like venture debt and credit lines through a fast, guided process.

Here is a closer look at the top VC firms specializing in the energy industry. We've included key details about their investment stages, geographic focus, and what makes each firm a compelling choice for founders.

1. Powerhouse Ventures

Powerhouse Ventures concentrates on seed-stage startups that use software to speed up decarbonization efforts. The firm primarily invests in companies innovating within the global energy and mobility systems.

The firm's specific interest is in software-based solutions, distinguishing it from investors focused on capital-intensive hardware. A key portfolio company, Raptor Maps, which provides solar asset management software, underscores this focus.

If you are a founder with a software-first approach to solving challenges in energy or transportation, this firm could be a strong match. They are most active at the seed stage, providing foundational capital and support.

Once you secure funding from a firm like Powerhouse Ventures, Rho’s integrated financial tools—including business banking, corporate cards, and automated bill pay—can help you manage and deploy your new capital efficiently.

• Investment stages: Seed, Early Stage Venture
• Industries of focus: CleanTech, Renewable Energy, Software, Mobility
• Geographical presence: Based in Oakland, California
• Founded: 2018
• Notable portfolio company: Raptor Maps
• Portfolio size: 47 investments

You can refer to their website here.

2. Breakout Ventures

Breakout Ventures is an early-stage fund that backs founders with deep scientific backgrounds. They focus on companies built on tangible scientific breakthroughs rather than just software or business model innovations.

The firm invests in complex sectors like advanced materials and life sciences, with portfolio companies like Twelve, which turns CO₂ into sustainable jet fuel. This signals a clear preference for businesses commercializing hard-tech and deep research.

If you are a scientist-entrepreneur building a company rooted in a core scientific innovation, Breakout Ventures could be an ideal partner. They are well-suited for founders who need investors with technical depth to appreciate their vision.

After securing a round from a specialized firm like Breakout Ventures, Rho can help you manage your new capital with integrated banking, corporate cards, and AP automation.

• Investment stages: Seed, Early Stage Venture
• Industries of focus: Advanced Materials, Energy, Life Science, Financial Services
• Geographical presence: Based in San Francisco, California
• Founded: 2016
• Notable portfolio company: Twelve
• Portfolio size: 35 investments

You can refer to their website here.

3. Blue Bear Capital

Blue Bear Capital supports companies that apply AI and data-driven technologies to the energy and infrastructure sectors. The firm focuses on digital solutions that improve efficiency and drive sustainability across these critical industries.

The firm invests across multiple stages, from seed to late-stage rounds, with a clear focus on data and software applications. Notable portfolio companies like FreeWire Technologies, a maker of battery-integrated EV chargers, and TruckLabs, which develops fuel-saving aerodynamics, show their commitment to practical, high-impact technology.

If your startup uses data or AI to solve problems in the energy or industrial markets, Blue Bear Capital could be a strong partner. They are a good match for founders seeking an investor with deep industry knowledge who can provide support throughout the company's growth.

To complement your equity fundraising at any stage, Rho Capital can connect you to non-dilutive funding options like venture debt and credit lines through a fast, guided process.

• Investment stages: Seed, Early Stage Venture, Late Stage Venture, Convertible Note
• Industries of focus: CleanTech, Energy, Industrial, Infrastructure, SaaS
• Geographical presence: Based in Los Angeles, California
• 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 venture firm that backs startups developing new technologies for the energy and industrial markets. They focus on companies poised to make a significant impact on how these essential sectors operate.

The firm has a clear interest in companies creating tangible products, with portfolio companies like Boston Metal developing zero-carbon steel and Lunar Energy working on home electrification. Their track record includes notable exits, signaling their ability to support companies through to liquidity events.

Piva Capital is a good fit for founders building companies around significant technological or scientific advances in the industrial and energy fields. If your startup is at an early venture stage and focused on creating a physical product, their expertise could be valuable.

Once you secure funding from a firm like Piva Capital, Rho’s integrated financial tools—including business banking, corporate cards, and automated bill pay—can help you manage and deploy your new capital efficiently.

• Investment stages: Early Stage Venture
• Industries of focus: Energy, Industrial, Software
• Geographical presence: Based in San Francisco, California
• Founded: 2019
• Notable portfolio companies: Boston Metal, Lunar Energy, Velo3D
• Portfolio size: 25 investments

You can refer to their website here.

5. Energy Innovation Capital

Energy Innovation Capital invests in companies building the next generation of technology for clean and accessible energy. The firm backs businesses that are developing solutions to ensure the world has an abundant energy supply.

The firm supports companies across early and late venture stages, with a portfolio that highlights a focus on tangible technology and commercial success. Notable investments include Infinitum, a near-unicorn motor technology company, and Fluence Analytics, which resulted in a successful exit.

This firm is a good match for founders whose companies have proven technology and are ready to scale commercially. If you are seeking a partner with a track record of guiding companies toward significant market adoption or acquisition, EIC could be a strong fit.

After securing a round from a multi-stage firm like Energy Innovation Capital, Rho can help you manage your new capital with integrated banking, corporate cards, and AP automation.

• Investment stages: Early Stage Venture, Late Stage Venture
• Industries of focus: Energy
• Geographical presence: Based in Orinda, California
• Founded: 2016
• Notable portfolio companies: Infinitum, Moleaer, ConnectDER, Tado
• Portfolio size: 48 investments

You can refer to their website here.

6. Valhalla Ventures

Valhalla Ventures invests in early-stage companies with the potential to build what they call "enduring moats." The firm backs founders in deep tech and hard-to-build sectors, including energy, space travel, and biotechnology.

The firm’s focus is on businesses with strong, defensible advantages, often rooted in complex technology. Their portfolio includes companies like Jaza, which provides off-grid solar in Africa, and Rain, which develops autonomous firefighting helicopters, showing a commitment to high-impact solutions.

Valhalla Ventures is a good fit for founders building companies with significant intellectual property or a clear technological edge. If your startup operates in a complex industry and has a long-term competitive advantage, this firm could be a valuable partner.

After securing a round from a specialized firm like Valhalla Ventures, Rho can help you manage your new capital with integrated banking, corporate cards, and AP automation.

• Investment stages: Seed, Early Stage Venture
• Industries of focus: Energy, Sustainability, Space Travel, Advanced Materials, Biotechnology
• Geographical presence: Based in Los Angeles, California
• Founded: 2020
• Notable portfolio companies: Jaza, Rain, K2 Space
• Portfolio size: 23 investments

You can refer to their website here.

7. Energize Capital

Energize Capital is an investment manager that funds companies focused on digitizing the energy and sustainability sectors. They support businesses that bring software and data-driven solutions to traditional industries.

The firm invests across early and late venture stages, with a portfolio that shows a strong track record of successful exits, including an IPO and several acquisitions. Notable investments like Aurora Solar, a unicorn in the solar software space, and Monta, an EV charging platform, highlight their focus on high-growth digital companies.

This firm is a good match for founders building scalable software for the energy, construction, or sustainability markets. If your company is on a clear growth path and you are planning for a significant exit, Energize Capital has the experience to support your journey.

To complement your equity fundraising at any stage, Rho Capital can connect you to non-dilutive funding options like venture debt and credit lines through a fast, guided process.

• Investment stages: Early Stage Venture, Late Stage Venture
• Industries of focus: Energy, Sustainability, Renewable Energy, Construction, Finance
• Geographical presence: Based in Chicago, Illinois
• Founded: 2016
• Notable portfolio companies: Aurora Solar, Monta, Volta Charging (exited), Fast Radius (exited)
• Portfolio size: 50 investments

You can refer to their website here.

8. BP Ventures

BP Ventures is the corporate venture capital arm of BP, focused on identifying and funding high-growth technology companies. The firm invests across the energy industry, backing businesses that are developing innovative solutions.

As a multistage investor, the firm supports companies from seed to late-stage rounds and has a history of successful exits. Portfolio companies like StoreDot, a developer of ultra-fast-charging batteries, and Beyond Limits, an industrial AI company, show their focus on scalable technology.

This firm is a strong choice for founders whose technology could benefit from a strategic partnership with a global energy leader. If your company is developing solutions in areas like electrification or industrial AI, BP Ventures can provide both capital and deep industry access.

After securing a round from a strategic investor like BP Ventures, Rho can help you manage your new capital with integrated banking, corporate cards, and AP automation.

• Investment stages: Seed, Early Stage Venture, Late Stage Venture
• Industries of focus: Energy, Innovation Management
• Geographical presence: Based in Palo Alto, California
• Founded: 2012
• Notable portfolio companies: StoreDot, Lightning eMotors, Beyond Limits
• Portfolio size: 98 investments
• Investor type: Corporate Venture Capital

You can refer to their website here.

9. GS Futures

GS Futures is a corporate venture capital firm that makes strategic, early-stage investments in sectors like energy, sustainability, and retail. They focus on providing capital to companies at the seed and early venture stages.

The firm backs companies with high-growth potential across a range of industries, including several that have achieved unicorn status like the freight-forwarder Nowports. Their portfolio also includes deep-tech startups like Heirloom, a direct-air-capture company, and a successful exit with the acquisition of AutoGrid.

GS Futures is a good fit for early-stage founders in the energy, sustainability, or construction sectors who are seeking a strategic corporate partner. If your company has the potential for high growth and could benefit from corporate backing, this firm is worth considering.

After securing a round from a strategic investor like GS Futures, Rho can help you manage your new capital with integrated banking, corporate cards, and AP automation.

• Investment stages: Seed, Early Stage Venture
• Industries of focus: Energy, Sustainability, Construction, Consumer, Real Estate
• Geographical presence: Based in San Mateo, California
• Founded: 2020
• Notable portfolio companies: Heirloom, Skydio, LayerZero Labs, Nowports
• Portfolio size: 40 investments
• 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 startups. The firm provides capital to companies developing solutions for the power grid, energy storage, and efficiency.

The firm’s portfolio highlights a focus on foundational technologies for the modern energy industry, with notable investments in grid cybersecurity and battery innovation. Their track record includes successful exits and high-growth companies like the unicorn Dragos and smart-panel maker Span.

This firm is a good match for early-stage founders building tangible technology or critical software for the energy sector. If your startup is focused on grid modernization, energy storage, or industrial efficiency, their expertise could be a strong asset.

Once you secure funding from a firm like Energy Foundry, Rho’s integrated financial tools—including business banking, corporate cards, and automated bill pay—can help you manage and deploy your new capital efficiently.

• Investment stages: Seed, Early Stage Venture
• Industries of focus: CleanTech, Energy, Power Grid, Energy Storage, Impact Investing
• Geographical presence: Based in Chicago, Illinois
• Founded: 2013
• Notable portfolio companies: Dragos, Span, NanoGraf
• Portfolio size: 35 investments
• Notable exits: 5

You can refer to their website here.

11. Ventioneers

Ventioneers is a venture capital firm that backs entrepreneurs in deep tech, SaaS, AI, and the energy industry. The firm invests across a company's entire lifecycle, from seed rounds to late-stage and secondary market opportunities.

What's notable is their portfolio of iconic, high-valuation companies like SpaceX, which was valued at around $350 billion in a recent share sale. This focus on both early-stage startups and established private giants, often accessed via their syndicate, suggests a strategy that blends traditional venture investing with access to late-stage liquidity.

Ventioneers is a good fit for founders with ambitious, high-growth companies in technically complex fields. Their ability to invest from seed to late-stage makes them a potential long-term partner for businesses aiming for significant scale.

After securing a round from a multi-stage firm like Ventioneers, Rho can help you manage your new capital with integrated banking, corporate cards, and AP automation.

• Investment stages: Seed, Early Stage Venture, Late Stage Venture, Secondary Market
• Industries of focus: Energy, Generative AI, SaaS, Manufacturing, Deep Tech
• Geographical presence: Based in Houston, Texas
• Founded: 2023
• Notable portfolio companies: SpaceX, ByteDance (TikTok), Stripe, Neuralink, Anthropic
• Portfolio size: 20 investments
• Investor type: Venture Capital, Syndicate, Secondary Purchaser, Fund of Funds

You can refer to their website here.

12. WindSail Capital Group

WindSail Capital Group provides growth capital to companies in the energy and sustainability sectors that are ready for commercial expansion. The firm offers flexible financing, including both debt and venture funding, to support businesses as they scale.

A key characteristic is their focus on early commercial-stage companies, backing businesses that have moved beyond initial R&D. Their track record includes several successful exits, such as the acquisitions of wastewater-treatment firm BlueInGreen and microgrid provider Go Electric.

WindSail is a good match for founders who need capital to fuel market entry and growth, rather than for initial product development. Their experience with both debt and equity makes them a versatile partner for companies with clear commercial traction.

For founders exploring flexible financing, Rho Capital can also connect you to non-dilutive options like venture debt and credit lines, tailored to your business needs.

• Investment stages: Debt, Seed, Venture
• Industries of focus: Energy, Sustainability, Financial Services
• Geographical presence: Based in Boston, Massachusetts
• Founded: 2013
• Notable portfolio companies: Nanoramic Laboratories, WeatherFlow-Tempest
• Notable exits: 13, including BlueInGreen, Purple Carrot, and Go Electric
• Portfolio size: 41 investments

You can refer to their website here.

13. RockPort Capital

RockPort Capital is a long-standing venture firm that invests in companies across the energy, mobility, and sustainability sectors. They provide capital to businesses developing new technologies and solutions in these core areas.

With a history dating back to 1998, RockPort has a notable track record of guiding companies to successful exits, including the acquisitions of EnerNOC and Digital Lumens. Their investment scope is broad, covering everything from early-stage venture rounds to private equity and post-IPO support.

RockPort is an excellent match for founders of more established companies in the energy and sustainability industries who are preparing for significant growth or an exit. For founders seeking capital for later stages, Rho Capital can also connect you with non-dilutive financing like venture debt to extend your runway without further dilution.

• Investment stages: Early Stage Venture, Late Stage Venture, Post-IPO, Private Equity
• Industries of focus: Energy, Energy Efficiency, Sustainability
• Geographical presence: Based in Boston, Massachusetts
• Founded: 1998
• Notable portfolio companies: Qnovo, NewLeaf Symbiotics
• Notable exits: 25, including EnerNOC and Digital Lumens
• Portfolio size: 107 investments

You can refer to their website here.

What This Tells Us About The VC Scene for Energy Companies

This overview shows a robust funding market for companies in the energy sector. There is a significant number of investors focused on pre-seed, seed, and early-stage rounds, which is good news if you are just starting out. At the same time, many firms are multi-stage, providing support from a company's inception through to its later growth phases, creating a well-balanced set of options.

Geographically, capital is concentrated in major US tech hubs, particularly in California and Boston. This can help you focus your fundraising outreach. As you plan your capital strategy, remember that equity isn't the only option. Our team at Rho Capital can also connect you with non-dilutive financing like venture debt to complement your fundraising at any stage.

Raise Confidently with Rho

Fundraising requires significant time and focus, so approaching the right investors from the start is critical. We hope this list gives you a strong starting point for your outreach.

If you’re seeking funding, Rho Capital connects you to non-dilutive funding options like venture debt and credit lines through a fast, guided process. Our team helps you access financing suited to your business model without chasing lenders.

Once capital is secured, Rho provides integrated tools to help you manage it well. Our platform includes business banking, corporate cards, and automated bill pay to help you deploy your funds efficiently.

FAQs about Venture Capital Firms Focused on Energy

Are there many renewable energy venture capital firms in Europe?

Yes, Europe has a growing number of VCs focused on renewable energy and cleantech, with active hubs in London, Berlin, and Stockholm. Many firms support startups developing solutions for the continent's ambitious sustainability goals.

Which US cities are hubs for cleantech VC firms outside of California?

Beyond the Bay Area and Boston, cities like Chicago, Houston, and Denver are becoming significant centers for cleantech investment. These hubs often have strong ties to the traditional energy industry, creating unique opportunities for innovation.

What do climate tech venture capital firms look for in a startup?

Climate tech VCs typically look for a strong technical team, a scalable solution to a significant environmental problem, and a clear path to commercialization. Defensible intellectual property and early customer traction are also highly valued.

What is the role of micro VC firms in the energy sector?

Micro VCs provide critical seed and pre-seed capital, often writing the first institutional check. They help founders validate their technology and business model, preparing them for larger funding rounds from early-stage venture capital firms.

How can I find the right early-stage VC firms for my startup?

Research firms that match your industry and stage. For non-dilutive options like venture debt, Rho Capital connects you to financing tailored to your business model through a fast, guided process, helping you avoid chasing lenders.

How can Rho help my startup manage its funding?

Once you secure capital, our platform helps you manage it well. Rho provides integrated business banking, corporate cards, and automated bill pay, giving you the financial tools to deploy your funds efficiently and scale your operations.