Clean Energy Venture Group and E8 Announce Partnership to Boost Innovation in the Climate Tech Sector
By: Sarah Dickey, ACA Subscription Director
Earlier today the Clean Energy Endeavor Group (CEVG) and E8 revealed a collaboration for nationwide environment tech angel investing with the objective to accomplish higher performances and impact. This substantial initiative to alleviate the hazard of climate change and dedication to development is intending to fill a space in the environment tech sector. Jean-Noel Poirier, CEVG partner and Executive Managing Director, sat down with ACA to share a lot more about this brand-new collaboration and how interested angels can get included:
Jean-Noel, thank you extremely much for putting in the time to supply ACA members with more details about this new effort in between CVEG and E8. Can you please inform us more about the national climate tech partnership initiative?CEVG and E8 both assistance early phase climate innovation companies, so it makes good sense for both groups to collaborate and join forces when relevant to be more reliable and impactful. While the groups stay independent, CEVG, with workplaces in Boston and New York City, and E8, based in Seattle, will collaborate on due diligence, co-investments and post-investment portfolio advisory services. CEVG and E8 are both obviously really enthusiastic
about producing favorable and sustainable ecological modification. How was this collaboration formed?CEVG and E8 have teamed up occasionally in the past on due diligence and members from both groups are currently co-investors in a number of business. I personally relocated from New York to Seattle previously this year which assisted enhance the link, but the 2 groups being the earliest and most active investor groups focused on environment tech in The United States and Canada, it was a logical action to work on a better cooperation in any case. CEVG and E8 can work collaboratively on business assessed in typical, and can likewise complement each other for a wider impact, as no group alone has the capacity to deal with the offer flow that we are facing. We collectively examine more than 500 companies annually and invest in a lots at finest so there is room for improvement by pooling resources when relevant. Also, both groups have the special mix of large groups of very knowledgeable members interested in and experienced about the environment tech sector(~ 120 in mix ), and the partnership of Equity capital funds( E8 Fund and Tidy Energy Ventures respectively), both spun out of the groups a few years back, which bring extra capital to the business and invest along with the groups. We desire to utilize the synergies allowed by this special mix and complementarity throughout the country.Can you elaborate on the unique relationship between angel groups on opposite coasts?CEVG and E8 both have national offer flows as companies tend to look for financing with relevant investors regardless of their location
. Each group also has unique relationships, connections, and existence in the cleantech environments
on the East coast(Boston and New York locations in particular for CEVG)and the West Coast(Seattle, Oregon, California in particular for E8 ). This physical existence includes significant worth in terms of knowledge of the regional entrepreneurs, technical experts, strategic partners, local support group etc. These connections, which become part of the DNA of both E8 and CEVG, are very valuable to establish a high quality deal flow, a strong due diligence process and very significantly, to help support companies publish investment by supplying relevant connections to advisors, employee, consumers and other appropriate entities in each region. By teaming up more carefully, E8 and CEVG can make the most of a broader combined network across the country, to the advantage of each group and to the advantage of entrepreneurs supported by each group. CEVG and E8 have collective cultures and are naturally available to collaboration and syndication with groups found in other regions.This effort aligns with the goals and experience of many ACA members. How can interested individual angels and angel groups get involved?The environment technology space is experiencing positive development with global macro trends lastly lining up to seriously deal with the climate and other ecological concerns: General scientific consensus, popular support, aggressive worldwide and local environmental policies, corporations devoting to decarbonize their operations, development of new funds concentrated on the sector etc.We are also witnessing a combination of growing technologies scaling up enormously as they become competitive with fossil fuel options(solar, wind … EVs ), and a very dynamic innovation environment coming out of universities and supported by a number of accelerators and other support group. All these variables are positive and make up a various environment for financiers compared to a few years ago. We are undoubtedly bullish on the chances for
value development in the climate tech space and are always available to brand-new financiers thinking about the sector as there is still a real absence of funding for early phase innovation. Interested investors are welcome to call CEVG and/or E8 to get involved.About CEVG Formed in 2005, the Clean Energy Venture Group is an investment group with workplaces in Boston and New york city which offers seed capital and management expertise to early phase clean energy companies. The group is consisted of experienced operating executives with strong capabilities in the energy and ecological sectors.About E8 E8 is a worldwide, Seattle-based community whose mission is to accelerate the transition to a thriving and cleaner world by buying and cultivating emerging cleantech enterprises.Its flexible, investor-centric platform supports different kinds of
investors and asset classes, consisting of direct angel for-profit investing, pooled investing in skillfully managed VC funds such as the E8 Fund and via syndication.