Invenergy Future Fund, the strategic investment fund established by US-based power producer Invenergy, rebranded to Energize Ventures yesterday and closed its first fund at $150m.
In addition to Invenergy, Energize’s limited partners (LPs) include industrial and power equipment maker General Electric’s Renewable Energy and General Electric Power divisions, energy management technology producer Schneider Electric and energy utility WEC Energy Group.
Undisclosed family offices and institutional and individual investors also contributed to the close. Invenergy launched the fund in June 2017 and it is headed by managing director Amy Francetic.
Energize targets investments of $5m to $10m at series B and C stage and favours deals in which it can lead. It looks to invest in grid-scale energy-related areas such as distributed energy and energy storage, cybersecurity, mobility technology and data analytics.
Michael Polsky, Invenergy’s founder and chief executive, said: “Now more than ever, digital solutions targeting infrastructure are providing outsized returns.
“The Energize team, combined with the broader Invenergy and LP network, has built an incredible platform for identifying and supporting the leading digital companies in our space.”
The fund’s portfolio so far includes DroneDeploy, Nozomi Networks, Volta Charging, Spark Cognition and Aquilon Energy, and it has invested a total of about $30m according to Greentech Media.
