About the fund
Clean Energy Ventures Fund II closed in May 2024 at $305 million, oversubscribed against its original target, and marks a significant expansion of the firm's strategy beyond North America into Europe and Israel. The fund maintains CEV's signature quantitative impact thesis, requiring each investment to be capable of mitigating at least 2.5 gigatons of CO2e emissions cumulatively between the initial investment and 2050 — with Fund II collectively targeting 75 gigatons of avoided emissions. More than 60% of the investment team holds advanced science or engineering degrees, enabling hands-on technical due diligence and portfolio support that goes well beyond standard venture capital. The fund is supported by a Strategic Advisory Board led by former U.S. Secretary of Energy Ernest Moniz, and works alongside more than 70 strategic co-investors. Early Fund II investments include long-duration energy storage company Noon Energy, compressor technology firm Evari, Israeli green ammonia company Nitrofix, and UK-based sustainable aviation fuel company OXCCU.
