兔子先生传媒

Houston-based has officially launched its first fund 鈥� the first in Texas dedicated to investing in energy transition technologies.

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The new fund is expected to close at $75 million, with the firm already having raised a 鈥渟ubstantial amount鈥� of that money, said firm co-founder and partner .

ETV is looking to take advantage of a changing energy market, where prices for new energy sources have dropped and even large corporations are eying cheaper, greener alternatives.

鈥淭his is a unique opportunity 鈥� renewable energy is cheaper than traditional energy,鈥� said , also co-founder and partner at ETV.

鈥淭his was the opposite 10 years ago,鈥� Lawrence said.

Money

ETV just received its first capital in February in the form of an anchor investment from and , both part of the .

The firm made its first investment last month, though it鈥檚 still unannounced, and will look at new opportunities in a variety of areas, including electrification, mobility, distributed energy grid and even AI/ML tech for cleantech.

The new firm will be stage agnostic, looking to write checks anywhere from $250,000 in a pre-seed or seed round to some at around $3 million for later-stage companies, Lawrence said. ETV expects to make about 15 to 25 investments from the fund 鈥� mainly in North America companies 鈥� through the next two or three years, he added.

While ETV will be based in Houston, the firm will have a Bay Area presence as it works closely with the GS Futures office on the West Coast. Both Lawrence and Dikeman have spent more than a decade in the industries of energy and technology in Texas and California, helping launch and manage cleantech investing at , and .

They both believe that experience will serve them well.

鈥淲e understand how to play the game both on the West Coast and here,鈥� Dikeman said.

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