Energy Impact Partners closed fundraising for its inaugural Elevate Future Fund I LP, one of the largest funds of its kind, with $111.9m of limited partner commitments.
Southern Company (NYSE: SO) was a founding investor in EIP and Chris Womack, current president and CEO-elect of Southern Company, will co-chair Elevate’s advisory board.
Elevate is focused on driving diversity in the energy ecosystem by providing capital to underrepresented founders of clean technology companies and supporting diversity and minority-owned businesses in the associated supply chain. The fund also invests in other parties in the larger energy ecosystem in order to achieve the mutual goal of accelerating a clean energy transition while increasing diversity, equity and inclusion in the broader venture capital network.
Southern Company and its subsidiaries are actively engaged in collaborations with various companies funded by Elevate, including ChargerHelp! and Rheaply.
ChargerHelp! is an electric vehicle charging station and maintenance company. Southern Company subsidiary Georgia Power is currently collaborating with ChargerHelp! on a series of local employee trainings and an 18-month pilot focused on electric vehicle infrastructure and renewable technologies.
Rheaply is a cloud-based resource exchange platform that enables organizations to trade materials and resources more efficiently, avoid carbon emissions and reduce spending. Southern Company subsidiaries are collaborating with Rheaply to leverage this resource management solution.
Led by Anthony Oni, managing partner, Energy Impact Partners is a global investment firm that brings together entrepreneurs and the world’s most forward-looking energy and industrial companies to advance innovation. With over $3 billion in assets under management, EIP invests globally across venture, growth, credit and infrastructure – and has a team of over 80 professionals based in its offices in New York, Atlanta, San Francisco, Washington D.C., Palm Beach, London, Cologne and Oslo.
FinSMEs
05/05/2023