Lisa Lambert, who spent a year and a half as managing partner at venture capital firm Westly Group, rejoined the corporate venturing community in January last year as chief technology and innovation officer, founder and president for UK and US-listed energy utility National Grid.
Before joining Westly in 2016, Lambert had worked at Intel Corporation for 19 years as vice-president and managing director of corporate venturing unit Intel Capital’s software and services group.
Lambert was also founder and managing director of Intel Capital’s Diversity Fund, and she led global investments in more than 100 companies and produced top decile returns, including seven flotations and over 30 trade sales.
In November, Lambert founded National Grid Partners (NGP), which aims to invest up to $30m per deal and is expected to exceed its initial allocation of $250m, and assumed the role of president to oversee venture and growth capital investing, internal and external innovation projects such as technology scouting, incubations and accelerations, and technology commercialisation.
National Grid Partners investment focus is in early and growth-stage companies at the intersection of energy and IT.
National Grid had previously explored venture investing under Daniel Hullah, who subsequently joined GE Ventures in 2016.
This year, NGP participated in a $20m series B round co-led by Comcast Ventures, the corporate venturing unit for mass media group Comcast, for US-based network security technology developer Aporeto in February.
Upon NGP’s launch in November 2018, NGP took part in the following investments:
- A $32m series D round for US-based energy management technology developer Autogrid.
- A $24m series B round for US-based infrastructure asset management platform Sitetracker.
- A seed round of undisclosed amount for US-based energy resources marketplace operator Leap.
- A venture round of undisclosed amount for US-based solar energy asset servicing company Omnidian.
- A $37m series B round for US-based cybersecurity technology developer Dragos.
- A $45m series B round for US-based weather forecasting technology developer ClimaCell.
National Grid was also a founding member of Energy Impact Partners, a venture capital firm launched in 2015 to fund companies developing emerging energy technologies competing for large-scale transmission projects across North America and the UK.
For its transmission and commercial projects, National Grid has backed Viking Link, a 700 kilometre subsea cable that will enable the trade of renewable energy between Denmark and the UK and expected to be operational by 2023; Granite State and Northeast Renewable Link, transmission projects that will deliver almost nine terawatt hours of energy for customers across New England; and Vermont Greenline, a proposed 400 megawatt transmission cable that will run from northern New York, under Lake Champlain, to Vermont and will deliver renewable energy to New England to help meet regional clean energy goals.
Lambert told GCV in an interview held in January this year that NGP would focus on sectors such as power generation and transmission, cybersecurity, smart vehicles, blockchain, edge computing and space technology.
Lambert has sat on the board of directors of several portfolio companies, including Silkroad Technology, Brit & Co, and X Plus 1, acquired by Rocket Fuel. She is also on the board of directors for the National Venture Capital Association, co-chairwoman of the Venture Forward initiative and the founder, CEO and chairwoman of Upward, a global network of executive women designed to accelerate career advancement.
