2023
Private Equity Investment in the Global Clean Economy
Lead General Partners Profiles
Year Founded: 1996
AUM: $122.4B | Dry Powder: $14.1M
Key Contacts
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Dirk McDermottFounder & Managing Partner
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J.P. BaumanPrincipal
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Sean EbertPartner
Investment Preferences
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Preferred IndustriesAlternative Energy Equipment, Chemicals and Gases, Information Technology, Oil and Gas Equipment
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Geographical PreferenceAmericas, Canada, US
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Preferred Deal TypesEarly-Stage VC, Later Stage VC, PE Growth/Expansion, Seed Round
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Other Investment Preferences
- Prefers minority stake
- Will lead on a deal
- Will syndicate
Investments By Year
Funds Closed
Size: N/A
Dry Powder: N/A
Details: The fund targets the information technology sector
Size: $122.4M
Dry Powder: $6.1M
Details: The fund targets oil and gas technology, IT, and energy sectors in the US
Size: $175.8M
Dry Powder: $4.4M
Details: The fund invests in oil and gas technology and services companies in the US
Investments By Industry
Investments By Region
Key Investments
In July 2022, FlexGen Power Systems raised $100 million of Series C venture funding in a deal led by Vitol. Altira Group and other undisclosed investors also participated in the round. FlexGen is a software technology provider and system integrator that delivers utility-scale energy storage projects integrated with traditional and renewable power generation
In August 2021, Phillips 66 invested in Seeq, an advanced analytics software developer, through Altira Group, that counts Seeq as one of its portfolio companies. Phillips 66 is a diversified energy manufacturing and logistics company with a portfolio of midstream, chemicals, refining, and marketing & specialties businesses
In August 2021, FlexGen Power Systems, a developer of energy storage technology and software, received $150 million of development capital from Altira Group, Apollo Global Management
In January 2020, Seeq Corporation, a manufacturing and Industrial Internet of Things (IIoT) advanced analytics software company, secured $24 million expansion of its Series B funding. This expansion round was led by Saudi Aramco Energy Ventures (SAEV), the corporate venture subsidiary of Saudi Aramco with the other investors such as: Altira Group, Chevron Technology Ventures, Second Avenue Partners, etc.
In 2018, Altira Group invested in ResFrac. ResFrac Corporation makes hydraulic fracturing and reservoir simulation software for the exploration and production industry
In 2017, Altira Group led a $23 million Series B funding round for Seeq Corporation. Other investors include Chevron Technology Ventures, next47, Second Avenue Partners, etc. Seeq offers advanced data analytics software for process industries that enables better decision making across the enterprise
In August 2015, Altira Group led a $25.5 million Series A financing round for FlexGen® Power Systems. FlexGen is an integrated energy storage technology platform company. Through its proprietary software and high-efficiency power electronics, FlexGen’s Energy Storage Systems (ESS’s) enable the economic integration (hybridization) of energy storage with power generation assets
In October 2012, Infrastructure Networks raised a new round of funding from Altira Group. Infrastructure Networks based out of Houston, Texas provides broadband wireless networks to oil and gas and other critical infrastructure industries
Other Details
Altira makes $5-$25 million investments in advantaged oil and gas technology and services companies. The firm typically invests in venture/growth-equity-stage companies. So far, Altira has raised six funds and invested more than $1 billion with partners in over 50 portfolio companies. The Altira team has over 60 years of combined experience investing in and building successful energy technology businesses
Currently the firm has two open funds. The latest Altira Technology Fund VII has a target size of $200 million and the Altira Technology VI Overflow Fund has a target size of $8.75 million
Apollo Global Management, Chevron Technology Ventures, Aramco Ventures, Cisco Investments, Gaylord Kellogg, Insight Partners, John Meisenbach, McRock Capital, Vitol, William Heston are some of the co-investors who invest alongside Altira Group