Activate Capital Fund III

Activate Capital

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Status

ACTIVE

Global HQ

San Francisco, United States

Countries of investment

United States
Canada

Investment stages

Series A
Series B
Series C
Growth

Industries

Industrial Digitalization
Energy Transition
Mobility
Supply Chain
Sustainable Industries
Manufacturing
ClimateTech
Advanced Materials
Grid Tech

About
Activate Capital is a San Francisco-based venture capital firm focused on backing growth-stage companies accelerating the sustainable industrial transition. Their focus spans industrial digitalization, energy transition, mobility, and supply chain across the United States and Canada. The firm supports industrial tech founders from Series A through growth stages.

Min check size: $5M
Max check size: $20M
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Investment Thesis

Activate Capital is a Series A to growth stage venture capital firm deploying capital across industrial digitalization, energy transition, mobility, supply chain, and sustainable industries sectors. They invest $10M to $50M in growth-stage companies leveraging technology to decarbonize industrial sectors and accelerate the transition to a sustainable economy. The firm differentiates itself through founding partners' operator DNA at Wellington, Foundation Capital, and Angeleno Group, combining deep sector expertise with growth-stage discipline across $1B+ AUM.

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Manager's Experience

Founded in 2018 by Raj Atluru (Managing Partner, previously Managing Partner at Silver Lake Kraftwerk and DFJ, sustainability tech veteran), David Lincoln (Managing Partner, previously with Element Partners and RockPort Capital), and Michael DeRosa (Partner, previously at DFJ Element and RockPort Capital). Investment team includes additional partners with deep expertise across industrials, cleantech, and growth equity. Team of 15+ investment professionals based in San Francisco. Manages over $1B AUM across two funds targeting the digital transformation of core industries. Portfolio includes Nuvve, Solidia, KoBold Metals (mining tech), Xcimer Energy (fusion), Aircela, ChargePoint, and Enel X. The firm invests $10M-$50M in growth-stage companies leveraging technology to decarbonize industrial sectors and accelerate the sustainable industrial transition.