G2VP invests in emerging technology companies that digitize traditional industries and drive market transformations.
Key people at G2 Venture Partners.
Key people at G2 Venture Partners.
# G2 Venture Partners: Catalyzing the Industrial Transformation
G2 Venture Partners is a venture capital firm that has positioned itself at the intersection of climate technology and industrial digitization, backing companies that apply transformative technologies to traditional industries spanning energy, transportation, agriculture, manufacturing, and logistics. The firm operates with a clear thesis: the world's most significant economic opportunities lie in digitizing and decarbonizing sectors that have historically resisted technological disruption. With over 15 years of climate-tech investing experience and a portfolio of 47 companies, G2VP has become a consequential player in reshaping how legacy industries operate at scale.
The firm's investment approach centers on growth-stage companies that have already demonstrated product-market fit and are ready to scale. Rather than betting on speculative deep tech, G2VP targets businesses with proven technologies seeking to penetrate established markets—a strategy that reduces risk while maximizing impact. Their hands-on partnership model, combined with deep industry expertise from their team, positions portfolio companies to navigate the complex regulatory and operational landscapes of traditional industries.
G2 Venture Partners emerged from Kleiner Perkins' Green Growth Fund, a $1 billion investment vehicle focused on greentech. The firm was formally established in 2017 when it closed its first $350 million fund, marking a deliberate spin-out to focus exclusively on the digitization and decarbonization of traditional industries. This lineage is significant—the founding partners, including David Mount and Brook Porter, brought decades of experience from Kleiner Perkins, where they had backed successful exits like OSIsoft (sold to SoftBank), ServiceMax (acquired by GE), and Opower (acquired by Oracle).
David Mount, a founding partner, exemplifies the firm's pedigree. Before G2VP, he managed a $20 billion structured finance portfolio at Bain Capital Credit, giving him intimate knowledge of traditional energy, exploration, and production sectors. This background proved invaluable—Mount understood not just the technology landscape but the operational realities and capital structures of the industries G2VP sought to transform. The firm's evolution reflects a maturing thesis: as climate imperatives and digital transformation converge, the greatest returns lie in companies that solve real problems for real industries, not in speculative bets on emerging technologies.
G2VP distinguishes itself through active partnership with portfolio companies. The team doesn't simply deploy capital; they embed themselves in strategic decisions, providing operational guidance and access to an extensive network of industry contacts. Partners like David Mount work directly with companies such as Seegrid, AiDash, AssetWatch, and Relay, leveraging their deep experience in IoT, energy, and industrial systems.
The firm's partners combine venture capital experience with operational backgrounds in the sectors they invest in. Mount's experience at Bain Capital Credit managing traditional energy portfolios, for instance, means G2VP understands the regulatory frameworks, capital requirements, and customer dynamics of the industries their companies serve. This expertise translates into better due diligence, more realistic scaling strategies, and stronger board-level guidance.
G2VP's portfolio reflects successful exits and strong growth trajectories. Notable investments include Enovix (next-generation battery manufacturing), Fictiv (digital manufacturing), Proterra (electric vehicle technology), Motive (fleet management), and Crusoe (clean computing infrastructure). The firm has demonstrated the ability to identify inflection points where technology meets market readiness.
Rather than spreading capital thinly across multiple sectors, G2VP maintains focused expertise in specific verticals—energy, transportation, agriculture, manufacturing, and logistics. This concentration allows the team to develop deep pattern recognition and to serve as a valuable connector within each ecosystem.
The firm has grown its fund sizes over time, closing a $500 million fund in 2021, enabling larger checks and follow-on investments. With a historical maximum check size of $200 million, G2VP can support companies through multiple growth stages without forcing dilution through external rounds.
G2 Venture Partners operates at a critical inflection point in the global economy. Three macro forces converge to make their thesis increasingly powerful:
Governments worldwide are implementing carbon pricing, emissions regulations, and sustainability mandates. Companies that help traditional industries reduce their carbon footprint aren't just solving an environmental problem—they're helping customers achieve regulatory compliance and access new markets. G2VP's portfolio companies benefit from this regulatory momentum, which creates durable competitive advantages and customer stickiness.
Manufacturing, agriculture, energy, and logistics have historically lagged in digitization compared to software and consumer tech. This lag represents an enormous opportunity. A fleet management platform like Motive or a satellite-powered operations platform like AiDash can deliver outsized returns because they're automating processes that have relied on manual labor, spreadsheets, and inefficient workflows for decades. The TAM (total addressable market) is massive, and the ROI for customers is often immediate and measurable.
Early-stage venture capital has become increasingly crowded and competitive. G2VP's focus on growth-stage companies in traditional industries represents a contrarian positioning. While most venture capital chases AI startups and consumer apps, G2VP is backing companies solving billion-dollar problems for industries that represent trillions in annual economic activity. This positioning has allowed them to deploy capital at attractive valuations while backing companies with clearer paths to profitability.
G2VP's success has elevated the profile of climate tech and industrial digitization as legitimate venture categories. By demonstrating that venture returns and climate impact can align, the firm has influenced LP allocation decisions and inspired other venture firms to develop similar theses. Their portfolio companies, in turn, become anchors for entire ecosystems—Motive in fleet management, Fictiv in digital manufacturing, and Crusoe in clean computing infrastructure each represent category leaders that attract follow-on investment and talent.
G2 Venture Partners has positioned itself to capture one of the most significant economic transformations of the next decade: the digitization and decarbonization of traditional industries. Unlike venture firms chasing speculative technologies, G2VP backs companies solving concrete problems for customers with immediate ROI. This approach reduces risk while aligning venture returns with climate impact—a rare combination that appeals to both financial and impact-focused LPs.
Looking forward, several trends will shape G2VP's trajectory. First, the firm will likely continue to increase fund sizes as LPs recognize the durability of their thesis. Second, portfolio companies will increasingly become acquisition targets for strategic buyers—large industrial conglomerates seeking to modernize their operations. Third, as regulatory pressure on emissions intensifies globally, G2VP's portfolio companies will benefit from accelerating customer adoption and pricing power.
The firm's influence on the broader venture ecosystem will also deepen. As traditional industries recognize the competitive necessity of digital transformation, venture capital will increasingly flow toward companies serving these sectors. G2VP's early positioning and track record position them to be the category leader in this space, much as Sequoia became synonymous with consumer tech or Andreessen Horowitz with crypto.
The ultimate measure of G2VP's success won't be measured solely in financial returns—though those appear strong—but in the scale of impact. If their portfolio companies help traditional industries reduce emissions by billions of tons while improving operational efficiency, they will have demonstrated that venture capital can be a powerful tool for systemic economic transformation. That's the bet G2 Venture Partners is making, and the early evidence suggests they're winning it.
| Date | Company | Round | Lead Investor(s) | Co-Investor(s) |
|---|---|---|---|---|
| Jan 28, 2026 | Waabi | $750.0M Series C | G2 Venture Partners, Khosla Ventures | Abu Dhabi Investment Authority, Bdc Thrive venture, BlackRock, BMO Global Asset Management, Export Development Canada, HarbourVest Partners, Incharge Capital Partners, Karman Ventures, Linse Capital, NVentures, Porsche Automobil Holding, Radical Ventures, TELUS Global Ventures, Uber, Volvo Group Venture Capital |
