Earth Foundry

Energy Foundry is a Chicago-based venture capital firm dedicated to investing in early-stage energy and clean-tech startups. Established with a mission to accelerate innovation in the energy sector, the firm primarily targets companies developing "hard tech" and "deep tech" solutions that address critical challenges in energy production, distribution, and consumption. Their investment thesis centers on supporting transformative technologies that can drive significant environmental and economic impact, leveraging the Midwest's industrial strengths and research capabilities.

The firm typically invests in seed and Series A rounds, providing crucial early capital to promising ventures. Their initial check sizes generally range from $500,000 to $2,000,000, reflecting their commitment to foundational support for emerging companies. Beyond capital, Energy Foundry offers strategic guidance, access to a robust network of industry experts, corporate partners, and potential customers, helping their portfolio companies navigate the complex energy landscape and scale their operations. They are known for their hands-on approach, working closely with founders to de-risk technologies and accelerate market entry.

Energy Foundry has raised multiple funds, demonstrating sustained commitment to the sector. Their first fund, launched in 2013, totaled $23 million, followed by a second fund of $30 million in 2019, bringing their total capital under management to over $50 million. This capital has been deployed across more than 30 portfolio companies, spanning areas such as grid modernization, renewable energy integration, energy efficiency, and advanced materials. Their portfolio includes companies like SparkMeter, which provides smart metering solutions, and Intellihot, focused on tankless water heaters, showcasing their diverse investment interests within the energy ecosystem.