
United States / Direct investor

Breakthrough Energy Ventures: industrial innovation.
Patient venture capital for affordable clean technologies across energy, manufacturing, agriculture, transport and buildings.
Connect Now01 / The fund
Build better, cheaper industrial systems
Breakthrough Energy Ventures invests in technologies that can compete on cost and performance in large industrial markets. Its 2026 investor update describes a move from scientific concepts to construction and commercial-scale infrastructure across electricity, manufacturing, agriculture, transportation and buildings. It reports more than 130 companies invested historically and more than 75 investors. The current published portfolio contains 103 companies; that is a separate, narrower count.
The July 31, 2024 amended SEC filing for Fund III records $839,368,421 sold. This is a dated regulatory amount, not a newly verified 2026 final close. The latest vehicles have different purposes: Select Fund II’s February 18, 2026 filing offers $600M with no sales yet reported in that filing; Special Situations I’s August 11, 2026 filing offers $100M with no sales yet reported. Those are targets at their filing dates, not completed fundraises, and are not added to Fund III.
No current primary-source numeric first-cheque range was independently verified. Third-party directories quote broad ranges, but these are not presented as firm-confirmed terms. The firm combines technical evaluation, patient capital and company-building support, with affordability and reliable performance central to its current stated approach.
2026 investor update ↗ · Fund III filing ↗ · Select II filing ↗ · Special Situations I filing ↗02 / Portfolio
Explore by sector
103 unique companies in the official public portfolio source, separate from the 2026 investor letter’s 130-plus historical investments. All five official economy sectors checked. DTT groups below describe technology, not the fund’s own sector taxonomy. This is not a claim that every listed company remains an independent private business or is currently raising. Acquisitions and public-market status do not prove a complete fund cash exit.
BioTech 10

Uses plants to produce ingredients such as casein, a protein normally found in dairy.
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Engineers microbes and fermentation processes to manufacture chemicals and ingredients.
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Grows plant-derived materials such as cotton from cells rather than conventional farming.
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Uses microbes to supply crop nitrogen and reduce dependence on conventional fertilizer.
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Uses light to control cells and improve production of biological products.
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Uses methane-consuming microbes to turn waste methane into useful agricultural products.
Holding source ↗Energy & Materials 73

Stores carbon dioxide underground by turning it into stable rock through mineral reactions.
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Seals leaks in air ducts and building envelopes to reduce wasted heating and cooling.
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Develops lower-cost wind power using a different mechanical arrangement from conventional tall turbines.
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Stores electricity as high-temperature heat for industrial processes and power generation.
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Combines solar power and battery storage to replace fossil-fuel generators.
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Develops geothermal power projects that turn underground heat into electricity.
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Turns plant materials into chemicals and fuels that can replace fossil-based ingredients.
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Develops air conditioning with built-in energy storage to reduce electricity demand.
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Makes high-temperature fuel cells that turn methanol into electricity for industrial uses.
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Uses electricity to produce metals with lower emissions than conventional production.
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Develops processes to make cement and recover useful minerals with lower emissions.
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Adds captured carbon dioxide during concrete production so some carbon becomes mineral material.
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Develops magnetic-confinement fusion systems intended to produce commercial electricity.
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Develops advanced solar materials and tandem cells that combine layers to capture more sunlight.
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Uses electricity to convert carbon dioxide into chemicals and other useful products.
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Develops lower-carbon cement materials that reduce the need for high-emission clinker.
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Uses electricity and lower-temperature processing to make iron for steel production.
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Makes large electrolyzer systems that use electricity to split water and produce hydrogen.
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Removes contaminants from indoor air so buildings need less energy-intensive fresh-air conditioning.
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Combines software, power trading and clean-energy supply to serve electricity customers.
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Uses modern drilling and sensing methods to develop geothermal electricity projects.
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Develops iron-air batteries intended to store electricity for several days.
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Stores electricity as very high-temperature heat and converts it back to power when needed.
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Develops processes that split natural gas into hydrogen and solid carbon materials.
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Stores carbon from plant material by drying, containing and burying it to slow decomposition.
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Uses membranes to separate hydrogen from gas mixtures or produce it from carriers such as ammonia.
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Uses limestone-based chemistry to capture carbon dioxide from ambient air.
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Develops power electronics that control and convert electricity for modern grids.
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Uses short electrical pulses to break rock for mineral processing with less mechanical crushing.
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Uses scientific computing and geological data to find deposits of critical minerals.
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Uses geological data and exploration technology to find naturally occurring underground hydrogen.
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Develops grid-scale storage that converts electricity into heat and cold before regenerating power.
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Uses electrochemical processing to refine lithium into battery-grade material.
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Uses geological science and exploration technology to find natural hydrogen resources.
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Uses software and automation to develop and operate mineral-production projects.
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Develops modular equipment to capture carbon dioxide directly from air.
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Splits methane using heat to produce hydrogen and solid graphite materials.
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Develops battery storage systems for transport and stationary applications.
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Develops solid-state lithium-metal battery technology for electric vehicles.
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Stores energy by pumping water underground and recovering pressure to generate electricity.
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Measures and analyses grid behaviour to help operators manage changing electricity systems.
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Stores industrial energy through reversible chemical reactions in high-temperature materials.
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Recycles batteries and makes recovered materials for new battery supply chains.
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Develops smaller-scale ammonia production using clean electricity for agricultural supply.
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Stores electricity as heat in brick-based batteries for industrial use.
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Produces fats from non-agricultural feedstocks rather than livestock or conventional crops.
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Provides metering and grid-management software for electricity utilities.
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Develops processes to extract copper from ores with lower-cost, lower-emission methods.
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Develops cathode materials, the positive-electrode ingredients used in lithium-ion batteries.
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Develops modular systems with reusable capture materials to remove carbon dioxide from air.
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Uses software and construction automation to build large solar power plants.
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Develops lower-carbon materials that can replace part of conventional cement.
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Makes advanced electricity conductors intended to carry more power on transmission lines.
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Develops electric motors, power electronics and control systems for more efficient equipment.
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Develops stellarator fusion systems, which use shaped magnetic fields to confine hot plasma.
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Develops building panels and construction methods for energy-efficient housing.
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Develops cooled superconducting transmission systems to carry more electricity through limited space.
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Uses electrically controlled capture materials to remove carbon dioxide from gas streams or air.
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Develops high-energy laser systems for inertial fusion, where laser pulses compress fuel.
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Develops fusion using electrical currents that compress plasma rather than large external magnets.
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Develops hydrogen-electric aircraft propulsion using fuel cells to supply electric motors.
Holding source ↗Physical AI 6

Uses automated scanning and AI to analyse rock samples and understand mineral deposits.
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Uses factory-machine sensors and software to track production and improve equipment use.
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Combines plant science, robotics and AI to automate crop-growing systems.
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Develops automation and monitoring tools for forest management and wildfire-risk reduction.
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Uses sensors, AI and automated sorting to recover valuable metals from mixed scrap.
Holding source ↗Quantum 1

Builds trapped-ion quantum computers that use controlled atoms to process information.
Holding source ↗Space Tech 3

Develops systems to collect solar energy in space and beam power to Earth.
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Builds satellites designed to collect detailed visible and thermal images of Earth.
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Develops reusable rockets and transport systems for space launch.
Holding source ↗Others 10

Sensors and software control commercial-building heating, cooling and ventilation to reduce energy use.
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Builds software tools that help contractors design and install home heating and cooling systems.
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Provides vehicle access, financing and technology services for urban mobility in Africa.
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Makes a home device that dries and grinds food scraps for collection or reuse.
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Develops food products and supply-chain changes intended to reduce food-related emissions.
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Uses satellite data and AI to assess and monitor forest-carbon projects.
Specific acquisition notice. Company acquisition does not prove a complete BEV cash exit.
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Develops solar-powered systems that draw water from air to produce drinking water.
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Uses software to coordinate electric-vehicle charging with electricity-grid needs.
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Measures soil carbon with field sensors so land managers can assess carbon storage.
Holding source ↗03 / Team & connect
Investment team


Eric Toone
Managing Partner
Scientific evaluation and technical investment leadership
LinkedIn profile ↗


Quinn Cornelius
Senior Director, Strategic Investments (Gates Ventures)
Strategic investments involving BEV; not presented as a BEV partner
LinkedIn profile ↗

Christian Garcia
Partner & Managing Director
Climate and industrial technology investment; Koloma board
Verified biography ↗
Christina Karapataki
Partner
Electricity, transportation and manufacturing decarbonisation
LinkedIn profile ↗


Brian Mayers
Investor & Company Builder
Climate technology investing and portfolio board work
LinkedIn profile ↗




Peter Turner
Partner
Science-driven companies across climate, biology and human health
LinkedIn profile ↗

Karl White
Investment Professional; capital formation
Capital formation plus verified portfolio-board duties, not IR-only
LinkedIn profile ↗Current official people records were checked against direct personal LinkedIn profiles and, where needed, portfolio-company board biographies. Rodi, Eric and Carmichael retain their verified BEV Managing Partner remit alongside wider platform jobs. Sila’s current profile says Partner, superseding an older university Venture Partner title. Quinn remains Senior Director at Gates Ventures with a separately supported BEV strategic-investment remit, not relabelled as a BEV partner. Karl leads capital formation but is included because company-primary board duties are independently supported. Discovery, grid-modeling, contrails, legal and operations-only staff are excluded. Bill Gates is shown as a historical fund backer below, not promoted into a day-to-day Connect role. Christian’s verified portfolio-company biography is used instead of a guessed LinkedIn profile.
Official people page ↗04 / Fund network
Limited partners & fund backers
Named institutional holdings and historical individual fund backers, separated by date and vehicle. The wider Breakthrough Energy Coalition, commercial partners, company customers and Discovery donors are not automatically treated as BEV LPs. This is a verified public subset, not the full 75-plus investor register.
Andra AP-fonden (AP2)
Institutional holding: Select Fund I, year-end 2025
AP2’s own December 31, 2025 unlisted-holdings list names Breakthrough Energy Ventures Select Fund I. This establishes a holding, not a new 2026 commitment or a cash amount paid into a new vehicle.
Investor source ↗The Klarman Family Foundation
Historical holdings: Funds II and III, year-end 2024
The foundation’s 2024 IRS return lists both BEV II and III in its other-investments schedule. Reported book and fair values are not recast as original commitments or current fund performance.
Investor source ↗Good Ventures Foundation
Historical holding: Fund II, June 2021
The foundation’s June 2021 IRS return lists BEV II. This is dated evidence of a fund holding, not proof of a current position or support for the newest vehicles.
Investor source ↗Bill Gates
Historical individual founding backer, 2016
Contemporaneous launch reporting explicitly names this person among the investors forming BEV. The record does not establish a new commitment to Fund III, Select II or Special Situations I.
Investor source ↗Jeff Bezos
Historical individual founding backer, 2016
Contemporaneous launch reporting explicitly names this person among the investors forming BEV. The record does not establish a new commitment to Fund III, Select II or Special Situations I.
Investor source ↗Vinod Khosla
Historical individual founding backer, 2016
Contemporaneous launch reporting explicitly names this person among the investors forming BEV. The record does not establish a new commitment to Fund III, Select II or Special Situations I.
Investor source ↗Jack Ma
Historical individual founding backer, 2016
Contemporaneous launch reporting explicitly names this person among the investors forming BEV. The record does not establish a new commitment to Fund III, Select II or Special Situations I.
Investor source ↗John Doerr
Historical individual founding backer, 2016
Contemporaneous launch reporting explicitly names this person among the investors forming BEV. The record does not establish a new commitment to Fund III, Select II or Special Situations I.
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