Top 50 Rising Stars 2022 (in alphabetical order by CVC unit): Niaz Faruqui and Stuart Coleman, principals, Chevron Technology Ventures
Luis Alcoser, CTV Future Energy Fund’s general manager, said: “Niaz has been a cornerstone of our Future Energy venture team since the launch of the fund in 2018, leading a variety of deals in the hydrogen, circular economy, and the carbon offset space.
“Additionally, Niaz has proven to be a sought after thought leader in the climatetech space both within Chevron and externally, who processes a unique talent for conveying often complex emerging innovation trends in a digestible fashion.”
Faruqui had held various roles at Chevron in Pakistan, South Africa and the US for more than 25 years since 1994, thanks to which he has an extensive knowledge in the broader energy ecosystem.
CTV formed its first Future Energy Fund in 2018 with $100m before announcing a $300m second iteration in February 2021.
Stuart Coleman joined CTV in 2017 as an associating before making his way up to principal the year after, having initially been a petroleum engineer for nearly five years for Chevron.
Kemal Anbarci, vice-president and managing executive for CTV, said: “Stuart has been with the Core Energy venture team for a little over four years and he has proven himself the powerhouse he is not only via the investment activities that he leads, but also with his involvement in innovation ecosystems from Houston to Calgary and from Austin to Copenhagen.
“Stuart has been an effective mentor to new CTV team members and has credibility in technology areas from subsurface – including novel geothermal – to edge computing.”
CTV launched a $90m core energy fund, Fund VII, in 2019, which invests in oil and gas technologies developers and also participates in external funds as a limited partner.