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DBL Partners is an impact venture capital firm founded in 2008 by Nancy Pfund and Ira Ehrenpreis, evolving from its origins as a fund within JP Morgan. The firm is based in California and has a total AUM exceeding $1 billion, with a focus on achieving both financial success and positive social and environmental outcomes. DBL Partners operates with a 'double bottom line' approach, emphasizing the importance of both profit and purpose in its investment strategy.
Since its inception, DBL Partners has raised multiple funds, including Fund IV, which closed in 2021 with $600 million. The firm has invested in a diverse range of sectors, including climate technology, logistics, advanced materials, and healthcare. Notable milestones include landmark exits such as Tesla and SolarCity, showcasing the firm's ability to identify and support high-potential companies that align with its mission.
DBL Partners has a portfolio of 15 companies, reflecting its commitment to investing in innovative solutions that address pressing global challenges. The firm is recognized as a pioneer in impact investing, demonstrating that financial returns and social impact can coexist and thrive.
DBL Partners targets investments in companies that aim to deliver high financial performance while also creating positive social and environmental change. The firm focuses on sectors such as climate technology, logistics, advanced materials, healthcare, and clean energy. Investment stages range from seed to growth equity, allowing DBL Partners to support companies at various points in their development.
The firm seeks mission-driven founders who are committed to sustainable practices and innovative solutions. DBL Partners looks for companies that not only have strong financial potential but also contribute to a sustainable future. The firm emphasizes the importance of impact alongside financial returns, aiming to demonstrate that these objectives can be complementary rather than conflicting.
Check sizes typically range from several million dollars to larger growth equity investments, depending on the stage and needs of the company. DBL Partners is known for its collaborative approach, often co-investing with other firms to maximize impact and leverage additional resources for its portfolio companies.
DBL Partners has a diverse portfolio of 15 companies, each contributing to its mission of achieving financial success alongside social and environmental impact. Notable portfolio companies include:
DBL Partners has achieved notable exits with companies like Tesla, SolarCity, and Pandora, demonstrating its ability to identify and support high-growth potential companies.
Nancy Pfund: Founder and Managing Partner. Pfund is a pioneer in impact investing and a Yale School of Management graduate from 1982. She has received the Impact Leadership award from Impact Capital Managers and was named Springboard Enterprise Investor of the Year in 2024. Pfund frequently speaks at climate and impact events.
Ira Ehrenpreis: Founder and Managing Partner. Ehrenpreis has extensive experience in venture capital and impact investing, contributing to the firm's strategic direction and investment decisions.
Mark Perutz: Partner. Perutz plays a key role in sourcing and managing investments, leveraging his expertise in the venture capital landscape.
Becky Cooper: Chief Financial Officer. Cooper oversees the financial operations of the firm, ensuring sound financial management and reporting.
Paula Uniacke: Director of Impact. Uniacke joined DBL Partners in 2022 and focuses on enhancing the firm's impact investing strategies.
Carol Wong: Chief Administrative Officer. Wong manages the administrative functions of the firm, supporting operational efficiency.
Vincent Caruso: Principal. Caruso is involved in investment analysis and portfolio management, contributing to the firm's overall investment strategy.
Jake Harris: Principal. Harris joined DBL Partners in 2018 and focuses on sourcing new investment opportunities and supporting portfolio companies.
Founders interested in pitching to DBL Partners should send their proposals via email to ira@dbl.vc. It is important to include a comprehensive deck that outlines the business model, market opportunity, and impact metrics. The firm appreciates clarity and detail in presentations.
Response times may vary, but founders can generally expect to hear back within a few weeks. Warm introductions are preferred, as they can facilitate a more favorable review process. DBL Partners values pitches that clearly demonstrate alignment with its mission of achieving both financial returns and positive social impact.
In October 2025, DBL Partners participated in the lead of Agtonomy's oversubscribed Series B funding round, which focuses on automation and physical AI solutions for agriculture and land management.
Recently, DBL Partners published blog posts discussing financing nature through their portfolio company Chestnut Carbon and addressing fire safety challenges. These posts indicate ongoing engagement with their portfolio and relevant industry issues.
In 2024, Nancy Pfund received the Impact Leadership award from Impact Capital Managers, highlighting her contributions to the field of impact investing.
DBL Partners reported on xAI's successful $20 billion Series E funding round, showcasing the firm's involvement in high-profile investment activities.
What are DBL Partners' investment criteria?
DBL Partners invests in mission-driven companies that aim for high financial returns while creating positive social and environmental impact. The firm focuses on sectors such as climate technology, logistics, advanced materials, and healthcare.
How can founders apply or pitch to DBL Partners?
Founders can pitch DBL Partners by sending an email to ira@dbl.vc. It is recommended to include a detailed deck outlining the business model, market opportunity, and impact metrics.
What makes DBL Partners different from other venture capital firms?
DBL Partners emphasizes the 'double bottom line' approach, focusing on both financial success and measurable social and environmental impact. The firm has a proven track record of successful exits in the impact investing space.
What is the geographic scope of DBL Partners' investments?
DBL Partners primarily invests in North America, targeting innovative companies that align with its mission of sustainability and impact.
What is the typical check size for investments?
DBL Partners typically invests several million dollars in seed to growth equity stages, depending on the specific needs and growth potential of the company.
What kind of post-investment involvement does DBL Partners have?
DBL Partners actively supports its portfolio companies through strategic guidance, access to resources, and connections to potential partners and customers, helping them scale their businesses effectively.
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