We’re excited to announce our investment in EnPowered, an on-bill payment platform designed to make it easier for businesses to invest in energy-efficiency projects. We co-led their $12M seed raise, along with our friends at Golden Ventures and Inovia. Great technologies exist to help businesses reduce their electricity usage, emissions,…
As our planet is grappling with a climate crisis and dependence on fossil fuels, we are investing more and more in climate and energy. In less than two years, we’ve led the pre-seed/seed rounds of five companies: EnPowered, Patch, NCX, one yet to be publicized, and now EnergyBank. And we…
Building a successful investment franchise over the past few decades required finding a distribution advantage as products have been mostly undifferentiated. The largest and most successful US franchises — Blackrock (founded 1988), Vanguard (founded 1975), and Fidelity (founded 1946) — are now managing close to $20 trillion in assets. While…
It’s hard to believe that we are heading into the home stretch of 2021. But before we do, let’s look back at the busy summer that the Version One family had! Fundraising and Exits Patch, an API platform for negative emissions, raised a $20M Series A led by Coatue Management…
When I started Version One Ventures in 2012, every experienced VC shared the same rule of thumb: we had to return 3x net consistently to stay in business (i.e. 3x the invested capital net of fees over a period of about ten years for a net IRR in the low…
