Energy Impact Partners launches fund to advance diversity, equity and inclusion
Energy Impact Partners, a global investment platform, announced Wednesday it will launch its Elevate Future Fund to create a more diverse founder community and inclusive venture capital ecosystem within energy transition.
The fund targets $120 million in commitments and has closed on more than half this goal through strong support from its corporate investor network. Already, the fund has made three investments in companies led or founded by diverse talent, with a strong pipeline of additional opportunities in line.
Elevate features an industry leading group of founding corporate partners and investors who are committed to working alongside EIP, including Alliant Energy; Ameren Corp.; Duke Energy; Emera Inc.; FirstEnergy Corp.; Fortis Inc.; Microsoft, through its Climate Innovation Fund; OGE Energy Corp.; Pinnacle West Capital Corporation; PPL Corporation; Southern Company; Tennessee Valley Authority Asset Retirement Trust; and Xcel Energy.
“As we reshape the low carbon economy of the future, it is important that this future is equitable, diverse, and inclusive. We have a lot to improve upon and formed Elevate to help advance this important cause,” EIP Founder and CEO Hans Kobler said.
The fund will focus on investing in companies founded or run by diverse talents driving innovation within EIP’s core mission of advancing the low carbon economy, including supply decarbonization, electrification, tech-enabled infrastructure, reliability, and resilience intelligent demand. The Elevate team will form partnerships with technology accelerators, and universities, in addition to its direct investments. By doing so, the team hopes to nurture talent, promote infrastructure and support systems that will help retain talent from underrepresented groups. The fund will work with its corporate investors to leverage their resources to advance this mission.
“With the creation of the Elevate Future Fund, we are addressing the need for the venture capital community to come together to provide better opportunities for underserved communities in our industry,” said Anthony Oni, managing partner of the Elevate Future Fund. “We look forward to working closely with our incredible corporate partners to help advance a more equitable ecosystem and provide better opportunities for underrepresented people.”
