Climate Tech VC Blackhorn Closes Fund Aimed at Energy Transition

Speaking at BuiltWorlds Paris Summit Wednesday, leaders of VC firm Blackhorn Ventures announced the close of a $154M fund focused on digital infrastructure for industrial decarbonization, including capital-efficient software solutions, vertical SaaS companies and AI applications.

Blackhorn Ventures Industrial Impact Fund II, the firm’s third fund, is making Seed and Series A stage investments in several areas: renewable energy, zero-emission transportation, building energy efficiency retrofits, supply chain resiliency and workforce solutions in manufacturing, construction, and utilities.

Blackhorn, named a 2024 Maverick by BuiltWorlds, aims to capitalize on what the VC describes as a “$1.7 trillion opportunity in industrial resource efficiency, and the projected $4.5 trillion investment for global energy transition by 2030,” according to a press release.

“We are at a pivotal moment where the AI supercycle and the manufacturing supercycle are colliding with historic changes in our energy and transportation systems,” said Melissa Cheong, general partner at Blackhorn Ventures.

“Our third fund is well positioned to support founders at the forefront of industrial AI, addressing critical labor shortages, and delivering scalable decarbonization solutions,” she added.

Blackhorn Ventures partners on stage in Paris to announce the fund’s close on June 26.

The new fund is already committed to almost 20 start-ups, including Formic, Circuit Mind, ThinkLabs, Specifix, EcoWorks, Optera and Electric Era.

New limited partnerships with multinational corporations include Mitsubishi Electric, Westlake Corporation and Mercuria Energy, plus continuing commitments from Jonathan Rose Companies, Goldbeck GmbH, Simpson Strong-Tie and the Grantham Foundation for the Protection of the Environment.

In addition to Cheong, Blackhorn Partner Stephan Cizmar and Operating Partner Raymond Levitt were on hand for the announcement in Paris, held as part of the Summit last week at Bouygues Group’s headquarters.