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Energize Capital is a Chicago-based venture capital firm founded in 2016, specializing in climate solutions through digital and software-enabled technologies. With a focus on asset-light companies, Energize aims to accelerate the energy and industrial transition by investing in startups that provide scalable, efficient, and impactful solutions. The firm leverages deep operating knowledge of energy and industry to support founders in scaling their businesses with speed and discipline.
Energize Capital targets early-stage investments in digital solutions that drive decarbonization and efficiency across sectors such as energy, industrials, transportation, and manufacturing. The firm emphasizes asset-light models, particularly software platforms that can be rapidly deployed and scaled, reducing the reliance on capital-intensive infrastructure.
In June 2025, Energize Capital announced the close of its third venture fund, Ventures Fund III, with $430 million in capital commitments, surpassing its original $350 million target.
The fund was raised over 16 months and is the largest in the firm's history. Notably, a significant portion of the capital came from international limited partners, including Sweden’s Första AP-fonden, the U.S.-based Capricorn Investment Group, Dublin’s Keeling Capital, and various sovereign wealth funds.
Existing investors such as GE Vernova and the Canadian pension Caisse de dépôt et placement du Québec also participated. Ventures Fund III focuses on Series A stage investments, with average check sizes ranging from $15 million to $20 million.
The fund has already invested in companies like Tyba, a battery software optimization provider; Nira, which offers software for grid interconnection planning; and Archive, a platform that helps brands launch resale businesses.
Leadership
Energize Capital is led by Managing Partner John Tough, who co-founded the firm with a vision to support the energy transition through digital innovation. The leadership team brings extensive experience in energy, technology, and venture capital, enabling them to provide strategic guidance and operational support to portfolio companies.
Investment Strategy
Energize Capital employs a conviction-led investment model, focusing on early-stage, asset-light companies that offer digital solutions for the energy and industrial sectors. The firm provides hands-on support to founders, leveraging its deep industry expertise to help startups scale efficiently. Energize also allocates significant reserves for follow-on investments and anticipates co-investments from institutional limited partners, ensuring sustained support for its portfolio companies.
Notable Investments
Energize Capital's Ventures Fund III has already backed several companies, including Tyba, which specializes in battery software optimization; Nira, offering software solutions for grid interconnection planning; and Archive, a platform assisting brands in launching resale businesses. These investments reflect the firm's commitment to supporting digital solutions that facilitate the energy and industrial transition.
