The venture capital and growth equity firm is combining the new capital with its deep investing experience to support new opportunities in digitization and decarbonization
G2 Venture Partners (“G2”), a venture firm committed to the transformation of traditional industries, today announced the close of its second fund with capital commitments of $500 million. The new fund will continue the firm’s mission of supporting entrepreneurs who are unlocking new paths to environmentally and socially responsible economic growth.
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“This team has consistently shown vision and taken action that is ahead of the curve on many aspects of the digital industrial transition the world is in the midst of”
Founded in 2017 by former Kleiner Perkins Green Growth Fund partners David Mount, Brook Porter, Ben Kortlang and Daniel Oros, G2 launched with a first fund of $350 million devoted to investment in sectors ranging from energy and manufacturing to logistics, transportation and agriculture. Portfolio companies include LiDAR manufacturer Luminar (NASDAQ: LAZR), electric vehicle technology manufacturer Proterra (NASDAQ: PTRA), computer vision solution provider Scandit, autonomous mobile robot company Seegrid, digital renewable energy utility Arcadia, digital manufacturing platform Fictiv, and agricultural supply chain platform ProducePay.
Operating under the same enduring thesis, G2 is poised to leverage its second fund to engage with broad markets and a wide range of solutions for greater sustainability and efficiency in sectors that make up over half of the global economy. The firm will continue to provide its strategic network and the experience gained through nearly two decades of leading rounds in rapidly-growing technology companies including solar energy company Enphase (NASDAQ: ENPH), leading industrial data management platform OSIsoft (acquired by AVEVA), and utility customer engagement platform Opower (acquired by Oracle).
“The launch of our second fund expands our ability to work with companies that are moving the needle to redefine and revolutionize their respective industries,” said G2 founding partner David Mount. “We will continue to partner with technology companies that are pushing the future of industry forward, driving economic growth with reduced resource intensity.”
“This new fund places us in a stronger position to significantly mitigate the climate crisis while continuing to create value for our investors,” said G2 founding partner Brook Porter. “With so much new interest in transformative clean technologies from all corners of the public and private sectors, it’s an inspiring time to be doubling down on our firm’s commitment to this field.”
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“This team has consistently shown vision and taken action that is ahead of the curve on many aspects of the digital industrial transition the world is in the midst of,” said Robert Linck, chief investment officer of Shell Ventures, a limited partner in G2’s first and second funds. “The knowledge at this firm will be a significant asset to the new generation of technology leaders and pathbreakers that is emerging today.”