NEW YORK – Aligned Climate Capital (Aligned) has successfully closed its second venture fund, Aligned Climate Fund 2 LP (ACF2), at $85 million—doubling the size of its first fund. This milestone comes as global clean energy investments reached a record $2.1 trillion in 2024. The fund is dedicated to scaling proven clean energy and decarbonization solutions, with a focus on clean energy generation, resilient infrastructure, electric transportation, and sustainable land use.
ACF2 has attracted investments from prominent institutions, including the Ford Foundation and The Rockefeller Foundation, alongside pensions, corporations, endowments, and family offices. Since launching its venture strategy, Aligned has raised a total of $145 million.
Investing in Scalable Clean Energy Solutions
ACF2 exclusively supports Seed through Series B-stage companies that are actively deploying financeable clean energy solutions. These companies are driving energy cost reductions, expanding renewable energy production, and increasing accessibility to clean energy technologies, electric vehicles, and sustainability-focused services.
To date, the fund has invested in nine companies, including BoxPower, BrightNight, CarbonQuest, ChargerHelp!, EVenergi, NYLE Water Heating Systems, Port Wind, UtilityAPI, and an undisclosed geothermal company.
“The clean energy transition isn’t a technology challenge; it’s a deployment challenge,” said Peter Davidson, CEO of Aligned Climate Capital. “The solutions needed to decarbonize the economy already exist, but scaling them requires capital, expertise, and market access. Our venture fund is accelerating this transition by investing in companies that are already outcompeting fossil fuels and delivering real impact today.”
A Strategic Approach to Accelerating Clean Energy Growth
Beyond providing capital, Aligned actively supports its portfolio companies in securing additional funding, forming strategic partnerships, and accelerating commercialization. The firm prioritizes companies with rapid scalability, revenue growth potential, and near-term profitability—avoiding lengthy R&D cycles to optimize short-term investor returns.
“The transition to clean energy has the potential to generate high-quality jobs for hardworking families while laying the foundation for sustainable progress,” said Roy Swan, Head of Mission Investments at the Ford Foundation. “We are excited to partner with Aligned as they invest in businesses that support families, strengthen communities, and protect the planet.”
Commitment to Impact and ESG Integration
Aligned Climate Capital embeds environmental, social, and governance (ESG) principles into its investment framework, ensuring financial performance aligns with long-term sustainability goals. Additionally, the firm has committed 3% of ACF2’s carried interest to climate-focused nonprofits, including:
The Honnold Foundation, which expands solar energy access in underserved communities.
The Climate & Clean Energy Equity Fund, which supports grassroots climate justice initiatives.
Impact Capital Managers, which fosters education and collaboration within impact investing.
“The Rockefeller Foundation is committed to advancing economic growth by supporting investments that bridge the gap between innovation and large-scale deployment,” said Maria Kozloski, Senior Vice President at The Rockefeller Foundation. “Aligned’s hybrid approach reduces risk while expanding clean energy access, making proven technologies more impactful for U.S. communities adapting to a changing energy landscape.”
By strategically deploying capital to scale existing clean energy technologies, Aligned Climate Capital is accelerating the transition to a decarbonized economy while generating strong returns for investors.
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