Energy

Roee Furman of Doral Energy-Tech Ventures sits down for a chat about investing in the future of energy.

We've condensed down three days of talks, networking and demos at the GCVI Summit in Monterey into these insights.

Devon Energy Ventures manager Kyle Haustveit tells GCV the team recently closed a third fund investment, after the parent firm’s first two commitments to Altira Group Fund VI and VII. Devon Energy was the top performing stock on the S&P 500 in 2021.

Three carmakers helped semiconductor producer CanSemi raise $670m while 574 Invest, RATP Group and Groupe Chopard backed a $167m round for vehicle charging network Electra.

Chanel and Kraft Group were among the investors in Evolved By Nature’s $120m series C round, while Prosus led a $39m series B for Sharebite.

Siemens and Volkswagen provided $450m for the latter's Electrify America subsidiary while Leaps by Bayer helped push ReCode Therapeutics‘ series B round to $200m.

If a CVC unit wants to bring in outside money, it needs a great track record, a unique angle and skin in the game.

A range of corporates helped hydrogen system developer Electric Hydrogen raise $198m while Shell and Chevron backed fusion energy system developer Zap's $160m series C.

Illumina and Celgene could exit genome researcher Human Longevity in a reverse merger while Openly raised $75m from investors including Advance Venture Partners and Gradient Ventures.

Asian, fintech-focused and less than seven years old – some of the CVC trends we saw when compiling the Global Corporate Venturing Directory.