Energy Capital Ventures Closes Fund I, at $61M

Energy Capital Ventures, a Chicago, IL-based early-stage venture capital firm dedicated to the environmental, social and governance (ESG) imperatives and digital transformation of the natural gas industry, announced its two final limited partners investing in its $61 million debut Fund I.

Eversource Energy (NYSE: ES) and National Fuel Gas Co. (NYSE: NFG) are the latest prominent publicly traded utility companies to invest in ECV’s innovation in “green molecules™.” They join Avista Corp. (NYSE: AVA), Black Hills Energy (NYSE: BKH), NiSource (NYSE: NI), Southwest Gas Holdings (NYSE: SWX) and Spire (NYSE: SR).

Led by Vic Pascucci, managing general partner, ECV will accelerate its deployment of capital at the Seed-plus and Series A stage in companies that address the natural gas industry’s ESG imperatives, and enable its digital transformation.  

The firm coined the phrase green molecules to define technologies encompassing the decarbonization, sustainability and digitization of the natural gas industry. As they relate to the natural-gas value stream, those technologies affect the use of hydrogen, renewable natural gas, carbon-capture utilization and sequestration, climate-tech, decarbonization, ESG modeling and accounting, workforce and customer safety, methane detection and leak prevention, business process optimization, customer experience and robotics.