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Clean Energy Ventures is a venture capital firm founded in 2017 and based in Boston, Massachusetts, with an additional office in London, UK. The firm specializes in early-stage investments in climate technology companies that are developing advanced energy technologies and innovative business models aimed at combating climate change. Clean Energy Ventures has a strong commitment to supporting startups that can significantly reduce greenhouse gas emissions.
The firm manages a total of $305 million in its second fund, which closed in May 2024, following the successful closure of its first fund at $110 million. Clean Energy Ventures has built a portfolio of 50 companies, demonstrating a robust investment strategy focused on clean energy solutions. The team comprises over 60% trained physicists and engineers, collectively bringing more than 300 years of experience in clean energy.
Since its inception, Clean Energy Ventures has maintained a low write-off rate of approximately 15% in hardware investments, showcasing its effective selection process. The firm has been actively investing in cleantech since 2005, establishing a strong track record in the sector.
Clean Energy Ventures exclusively invests in technologies capable of mitigating at least 2.5 gigatons of CO2e by 2050. Their investment strategy encompasses a range of sectors, including clean energy, renewable energy, battery technology, electric vehicle charging, smart grid solutions, green hydrogen, and carbon capture technologies. The firm typically invests between $1 million and $10 million in seed and Series A rounds, focusing primarily on North America, particularly the United States.
The firm seeks to support startups that are not only innovative but also have the potential for significant climate impact. Their investment thesis emphasizes capital-light technologies and business model innovations that can drive the transition to a sustainable energy future. Clean Energy Ventures aims to co-develop patents, assist in talent acquisition, and provide strategic marketing and technical support through its team of physicists and engineers.
Clean Energy Ventures has a diverse portfolio of 50 companies, with notable successes and ongoing projects. The firm reports that 95% of its first fund is thriving, achieving greater than 1x multiples. The pre-Fund portfolio has demonstrated a 34% net IRR and a 3x multiple. Key portfolio companies include:
Temple Fennell, Co-founder & Managing Partner: Temple has extensive experience in clean energy investments and has been instrumental in shaping the firm's strategy.
Dan Goldman, Co-founder & Managing Partner: Dan brings a wealth of knowledge in venture capital and clean technology, having led numerous successful investments.
Dave Miller, PhD, Co-founder & Managing Partner: Dave holds a PhD and has a strong background in engineering and clean energy technologies.
Yi Jean Chow, Investment Partner: Yi Jean specializes in identifying and evaluating investment opportunities in the climate tech sector.
Matt Cohen, Principal: Matt plays a key role in managing portfolio companies and supporting their growth strategies.
Ted Dillon, Chief Operating Officer: Ted oversees the firm's operations and ensures efficient management of resources.
Cooper Bates, Analyst: Cooper supports the investment team with research and analysis of potential investments.
Shanbor Gupta, Principal: Shanbor focuses on sourcing new investment opportunities and managing relationships with portfolio companies.
Cheryl Hallett, Chief Financial Officer: Cheryl manages the firm's financial operations and reporting.
David Meyer, Community Operations Manager: David engages with the community and supports portfolio companies in their growth.
Bridget Michalowski, Investor Relations Manager: Bridget manages communications with investors and stakeholders.
Elizabeth Pacelle, Marketing & Platform Associate: Elizabeth supports marketing efforts and platform development for portfolio companies.
Gabe Place, Finance & Accounting Associate: Gabe handles financial reporting and accounting for the firm.
Wynston Reed, Principal: Wynston focuses on investment strategy and portfolio management.
Lou Schick, Director of Investments: Lou leads the investment team in sourcing and evaluating new opportunities.
Amy Zhao, Investor: Amy supports the investment team with due diligence and market analysis.
To pitch Clean Energy Ventures, founders should submit their proposals through the investment application link on the firm's website. The pitch deck should include details about the technology, market opportunity, team background, and financial projections. Clean Energy Ventures values concise and clear presentations that highlight the startup's potential impact on climate change.
Response times can vary, but founders can expect to hear back within a few weeks. The firm prefers warm introductions but is open to direct applications through their website.
On May 9, 2025, Clean Energy Ventures made its latest investment, continuing its active engagement in the climate tech sector. The firm has completed a total of 7 investments in the last 12 months, reflecting its commitment to supporting innovative startups.
Recently, Clean Energy Ventures promoted Wynston Reed to Principal and hired Cooper Bates as a new Analyst, indicating growth within the team. Additionally, the firm announced a partnership with Harvest by Dasseti for ESG reporting software, enhancing its capabilities in environmental, social, and governance reporting.
Q?
What are Clean Energy Ventures' investment criteria?
A: Clean Energy Ventures invests in early-stage climate tech startups that can mitigate at least 2.5 gigatons of CO2e by 2050, focusing on sectors such as renewable energy, battery technology, and carbon capture.
Q?
How can startups apply for investment?
A: Startups can apply for investment through the Clean Energy Ventures website at this link.
Q?
What makes Clean Energy Ventures different from other VCs?
A: The firm has a team composed of over 60% trained physicists and engineers, providing unique technical support and expertise to portfolio companies.
Q?
What is the typical check size for investments?
A: Clean Energy Ventures typically invests between $1 million and $10 million in seed and Series A rounds.
Q?
What is the geographic focus of Clean Energy Ventures?
A: The firm primarily focuses on investments in North America, particularly the United States.
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