Blue Bear Capital, a venture and growth equity firm focused on AI-powered solutions for energy, infrastructure and climate challenges, closed its $160 million fund III and additional follow-on vehicles.
“There is nothing artificial about artificial intelligence,” Ernst Sack, partner of Blue Bear, said. “Just like the evolution of the eyeball or the development of writing, it is the next step in how information is found, shared, analyzed and used to improve the world around us. At Blue Bear, we are dedicated to uniting this machine intelligence with human creativity and entrepreneurship and leveraging that powerful combination to drive forward a modern, intelligent, sustainable and globally competitive energy and industrial economy.”
Fund III was funded by dozens of senior executives from leading private equity and infrastructure funds, alongside returning Blue Bear institutional investors such as Rockefeller Brothers Fund, the McKnight Foundation and Zoma Capital (a Walton Family affiliate), in addition to new partners including UBS and WovenEarth Ventures.
“With our third fund, we’re continuing to champion the data revolution across energy and industry,” Vaughn Blake, partner of Blue Bear, said. “By investing in the intelligence behind the transition, companies have the opportunity to achieve excellent financial returns and meaningful impact on the climate. Together, we’re building a cleaner, smarter energy future.”
Fund III has already made investments in four new companies; ChargerHelp!, Pioneer, SKOON and Delos, with three additional investments still to be announced.
“We have great respect for Blue Bear’s leadership and team depth as an early-stage investor in digital solutions for decarbonization and we are delighted to be LPs in Fund III,” Jane Woodward, co-founder and partner at WovenEarth Ventures, said. “The team’s unique industry experience and perspective allows Blue Bear to fill the gap between the energy supply chain of the past and the energy needs of the future.”
“The energy and climate landscape has become more dynamic than ever for founders to navigate,” Carolin Funk, partner of Blue Bear, said. “We are committing the collective experience and intelligence of our network to support founders along the journey towards impactful outcomes.”
