ImpactAlpha, Nov. 16 – Energy Impact Partners’ Frontier Fund invests in big-bet climate startups that have proved their decarbonization technology and are poised to scale. The fund is the first targeting early-stage investments for New York-based EIP, which made its name investing in solutions ready to be deployed by its network of corporate partners.
“Our job is to find and support entrepreneurs creating the fundamental building blocks of a net-zero future,” tweeted EIP partner Shayle Kann, in announcing the $485 million close.
Early investments include long-term storage darling Form Energy, zero-carbon fertilizer maker Nitricity, and electrified zero-carbon cement company Sublime Systems.
The fund, initially targeted at $350 million, was oversubscribed, drawing commitments from EIP’s existing corporate, sovereign wealth funds, family office and other investors.
The closing brings EIP’s total capital raised to more than $3 billion, including a €390 million European fund raised in September.