Veriten announced the initial close of its second flagship energy venture fund with more than $105 million in capital commitments. The fund is designed to accelerate scalable technology solutions across energy, power, and industrial applications.
Based in Houston, Veriten is a research, strategy, and investment firm focused on developing a long-term outlook for energy, power, and technology markets while investing in companies addressing major industry challenges and opportunities.
Fund II builds on the firm’s first flagship fund and will focus on investments supporting reliable, sustainable, and economic solutions for operating challenges and growth opportunities across the energy ecosystem. The firm said the fund will target broadly applicable technologies aligned with its outlook for the future energy landscape and opportunities with multiple potential exit paths.
Veriten said its investment strategy is supported by more than 50 strategic partnerships spanning energy, power, industrial, and technology sectors, including upstream, midstream, downstream, chemicals, oilfield services, utilities, nuclear, coal, fuel cells, power generation, hyperscalers, and trading organizations.
Industry leaders including executives from Halliburton Company, Phillips 66, and CIBC expressed support for the fund and Veriten’s strategy of connecting energy sector expertise with emerging technologies, digital tools, automation, and AI-driven solutions.
Support: Baker Botts L.L.P. served as legal counsel for Fund II.
KEY QUOTES:
“We are super excited about Fund II and fortunate to have such great partners and supporters. Our unique platform and team can deliver differentiated investment opportunities and value-added expertise in this exciting but rapidly changing and complex world. When it comes to making capital allocation decisions and investments, we aspire to be the global partner and platform of choice.”
Maynard Holt, CEO and Founder, Veriten
“Veriten continues to build a differentiated platform at the intersection of energy, technology and industry expertise. We were early believers in the team and their ability to identify practical solutions to real challenges across the energy value chain. As all industries increasingly adopt digital tools, automation and AI-enabled technologies to improve performance and execution, we are proud to partner with Veriten again to help accelerate high-impact solutions across the broader energy landscape.”
Jeff Miller, Chairman and CEO, Halliburton Company
“Veriten brings a thoughtful, industry-informed perspective to the technologies and businesses shaping the future of energy. Their network, market insight and strategic approach help surface solutions that improve safety, reliability, efficiency and stewardship across the broader energy and industrial value chain. We are pleased to partner with Veriten as they connect innovative companies with the operational priorities of large-scale energy businesses.”
Mark Lashier, Chairman and CEO, Phillips 66 Company
“We are at a pivotal moment in the energy markets, with increased volatility and artificial intelligence driving significant structural transformation. At CIBC, our priority is to deliver solutions that support our clients’ growth ambitions and help them manage risk against a quickly evolving backdrop. We greatly value the strategic, data-driven insights we gain from our investment in the Veriten Venture Funds.”
Christian Exshaw, Senior Executive Vice President & Group Head, Capital Markets, CIBC
“Our differentiated network, research-driven process, and first principles approach to investing are having an impact across multiple verticals including traditional energy, electrification, and industrial technology. Fund II builds on that platform. In this environment, the differentiator isn’t capital, it’s all about connectivity, deep sector expertise, and an economically-driven approach. As new technologies and approaches develop at breakneck speed, the need for more reliable, affordable energy and power continues to grow dramatically. The current backdrop accentuates the need for Veriten’s solution.”
John Sommers, Partner, Investments, Veriten
