Blue Bear Capital raises USD 150 million to finance climate, energy and infrastructure technologies
Blue Bear Capital has raised a new $ 150 million fund that will be used to find and invest in start-ups developing technology to accelerate the adoption and industrialization of renewable energy.
This is the company’s second fund to be oversubscribed. Blue Bear has already supported nine new companies since 2020. The company said fresh cash would be used for financing digital technologies “have a huge impact” on markets such as wind, solar, electricity, EV infrastructure, transport and energy-intensive industries.
“Trillions of dollars will be spent on scaling renewable energy, upgrading infrastructure and securing sustainable supply chains,” Blue Bear partner Ernst Sack said in a statement. “Meanwhile, artificial intelligence is redefining the way data is captured, decisions are crazy, and relationships are built around us. Where these two forces converge – by harnessing the power of AI technologies to the enormous challenges of energy transformation – Blue Bear sees the greatest investment and influence opportunities in our lives. “
Blue Bear has a dual investment strategy. The company’s investors are looking for those who “drive the vertical”, i.e. code for startups that have developed Software as a Service solutions that help industries take care of operational bottlenecks and handling niche use cases. Blue Bear is also looking for startups that have developed software that can be scaled horizontally in many markets.
Portfolio companies in the Blue Bear “vertical nail” bucket include FreeWire Technologies, which has developed a suite of products for the mobile charging of electric vehicles and Omnidian, a distributed solar energy management company. The horizontal scale companies that BlueBear supports include Urbint, which focuses on infrastructure security, and Demex, a company that manages climate and weather risk.
As with the first Blue Bear fund, this one is designed to help companies in their early stages of development – and not least by investing capital. VC boasts of the knowledge of its partners who have many years of experience in sustainable investments and practical work in the field of climate, politics, corporate ventures, cloud computing and other related technologies.
“As specialists, we believe in a strong confidence and relatively focused approach to portfolio building,” Blue Bear partner Vaughn Blake said in a statement, adding that the company selects companies with a view to long-term partnerships. Blake also said the company avoids the large-scale investment approach where a handful of firms are expected to make a return on the fund, while most of them will disappear. “
The investors in the Blue Bear fund are AIMS Imprint of Goldman Sachs Asset Management, Rockefeller Brothers Fund and McKnight Foundation, as well as leadership of other private equity and energy companies. Members of the Advisory Board include Reserve President Alex Krueger, former NASA astronaut Tim Kopra, and former BP President and CEO Lord John Browne.