The global investment platform shared on Wednesday that it is bringing forward The Elevate Future Fund. This fund will launch to create a more diverse founder community and inclusive venture capital ecosystem within energy transition, with $120 million in commitments.
The $120m goal has already been met by over 50% due to the large amount of support from a variety of corporate investors and networks. Already, the fund has made three investments in companies led or founded by diverse talent. They have a pipeline of additional opportunities that are on deck for investment such organisations.
The Energy Impact Partners Fund takes a holistic approach to the low carbon economy, focusing on transformation of supply chains and infrastructure.
The EIP fund will focus on driving innovation within our core mission of advancing the low carbon economy; including supply decarbonisation, electrification, tech-enabled infrastructure while prioritising reliability and resilience for all energy users.
The Elevate team will form partnerships with technology accelerators, universities, and corporations in order to nurture talent. By doing so the fund hopes to promote infrastructure that helps retain underrepresented groups of talented individuals.
The Elevate team is working on a mission where they hope have an impact not only by making investments but also through their support system for those who want to start businesses from any background or education level imaginable.
The first investment was for a company lead and founder who had been successful with scaling startups that connected people to jobs they love while other founders found their way through college. The second investment is an artificial intelligence platform which helps students learn faster and better than ever before – connecting them intimately with experts from around the world to help solve all of their problems as well as providing employers access to talented graduates lined up after graduation day! Thirdly, this venture capital firm invested in a brand new start-up called Allouette (assistant robot) which will help seniors stay independent longer at home.
The corporate founders known and committing to working alongside EIP are listed as…
- Allianz Energy
- Ameren Corp
- Duke Energy
- Emera Inc,
- FirstEnergy Corp
- Fortis Inc
- Microsoft (via its own Climate Innovation Fund)
- OGE Energy Corp
- Pinnacle West Capital Corporation
- PPL Corporation
- Southern Company
- Tennessee Valley Authority Asset Retirement Trust
- Excel Energy