The size of the fund has not yet been revealed, but is expected to be in the tens of millions of dollars.

US-based renewable power company Invenergy is raising a corporate venturing fund to invest in startups focused on boosting the reliability of clean energy, Crain’s Chicago Business reported on Wednesday. The Invenergy Future Fund was revealed in a securities filing earlier this week. It will be run by Amy Francetic, who joined Invenergy as an executive in early 2016. Though the company has not yet revealed the target size, it is reportedly going to be in the tens of millions of dollars. The fund will be aimed at an early-stage funding gap faced by cleantech companies for the past few years since investors abandoned the space after a lack of decent return on investments worth a total of $25bn between 2006 and 2011. Invenergy wants to make clean energy a more viable option by increasing its continuous availability – while energy production costs have dropped, weather-dependent technologies have meant energy flow is intermittent. Francetic said: “The investment thesis is digital technology that makes energy cheaper, more reliable and more secure.”

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