New Texas-Based Venture Capital Fund Aimed At Energy Transition Launches, Names Retail Energy Exec As Advisor

Energy Transition Ventures (ETV) said that it, "has launched as the first venture fund in Texas exclusively dedicated to investing in energy transition technologies."

The fund, launched by cleantech startup executives and venture capitalists Craig Lawrence and Neal Dikeman, has anchor investment from two operating companies from the GS Group of Korea, an energy, construction, and retail conglomerate.

The fund is investing in early stage startups in North America, and investments will focus on, "companies driving or benefitting from the energy transition off fossil fuels, across categories including distributed energy, electrification, mobility, and resource efficiency."

ETV closed its first capital in February this year, completed its first investment in March, and is expected to close new investors for a total fund size of $75 million.

In the past, Lawrence and Dikeman helped launch and manage cleantech investing at Accel Partners, Jane Capital, and Shell Technology Ventures, as well as held operating roles in solar and smart grid startups.

Energy Transition Ventures participates from Seed to Series B funding rounds with select late-stage opportunities and will colocate a Silicon Valley office with GS Futures.

Energy Transition Ventures also announced that Jon Wellinghoff, former Chair of FERC, and Deb Merril, President of EDF Retail and co-founder and former co-CEO of Just Energy, joined ETV as advisors.

GS Energy executive Q Song moves from Seoul, Korea, to join the Houston ETV investment team.