New Summit Announces Investment in Clean Energy Ventures’ $305M Fund II to Scale Climate Technologies Globally

New Summit is delighted to announce our latest investment in Clean Energy Ventures (CEV), a leading global venture capital firm focused on supporting early-stage, high-impact climate innovations. New Summit is capitalizing the firm’s $305 million second fund dedicated to scaling world-changing climate tech start-ups with the potential to mitigate gigaton-scale greenhouse gas emissions. Our decision to invest in CEV is driven by our continued commitment to advancing technologies that significantly mitigate climate change.

Founded in 2017 by a team of seasoned investors with a robust track record in clean energy, Clean Energy Ventures funds innovative companies across a range of sectors including mobility, renewable energy, carbon capture utilization and storage, energy storage, and advanced materials, among others. Amid efforts to scale decarbonization technologies globally, CEV requires that each investment be capable of mitigating at least 2.5 gigatons of greenhouse gas emissions cumulatively between the initial investment and 2050. The firm is known for its leadership in investment rounds and for leveraging a deeply technical and commercial team for active, hands-on involvement with its portfolio companies.

New Summit’s confidence in CEV is bolstered by our longstanding relationship with its managing partners—Daniel Goldman, Temple Fennell, and David Miller—who have consistently demonstrated their commitment to tackling the climate cause and to the effective management of the firm. Their leadership is further supported by a team across North America and Europe that possesses deep technical and investment expertise essential for assessing and nurturing early-stage climate technologies.

New Summit’s investment in Clean Energy Ventures’ Fund II marks the first commitment from our fourth fund, reflecting our ongoing focus on sustainable investment as a source of positive environmental impact.

We are proud to sit on the Limited Partner Advisory Committee for CEV’s Fund I, which has successfully committed $110M to 20 transformative companies that collectively have the potential to mitigate over 50 gigatons of greenhouse gas emissions. This position allows us to contribute to and learn from CEV’s strategic and measurement-based methodology, enhancing our own approach to impact investing.

Join us as we continue to support Clean Energy Ventures in their mission to drive innovation in the climate technology space.

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Alexandra Ellis

Partner

Alex is a Partner at New Summit Investments, leading private market research, investment manager sourcing, and due diligence.

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