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Piva raises $250 million to make breakthrough energy investments
CNBC Energy Solutions
A new venture capital firm that will invest in companies that are fundamentally shifting how the energy sector operates said it has raised $250 million for its first fund.
San Francisco-based Piva on Wednesday announced in a press release that its sole limited partner is Petronas, Malaysia's state-owned oil and gas company, although the fund will operate independently.
Piva is looking to invest in start-ups that have "breakthrough" technologies in the energy and materials space and new operating efficiencies for all industries, CEO and managing partner Ricardo Angel said. This could include companies combining data with AI and sensors, for example, as well as those focused on decarbonization and greater resource efficiency.
Find out more about Piva here
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