Energy Transition Ventures (ETV), a venture capital fund manager headquartered in Houston, has launched as the first venture fund in Texas exclusively dedicated to investing in energy transition technologies.
The fund was backed by anchor investment from two operating companies from the GS Group of Korea and will invest in early stage startups in North America. It will focus on companies driving or benefitting from the energy transition, across categories such as distributed energy, electrification, mobility and resource efficiency.
ETV closed its first capital in February, completed its first investment in March and is expected to close new investors, reaching a fund size of $75 million.
ETV was founded by cleantech startup executives and venture capitalists Craig Lawrence and Neal Dikeman. The new firm will also colocate an office in Silicon Valley with GS Futures.
“Texas is the energy capital of the world, and outside of corporate venture capital, th