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Went through process and close with folks there. Would say in climate / energy transition, funds fall between 4 buckets, truly early stage (Seed, Series A), VC Growth (Series A - C/D+), PE Growth (Typically Profitable) and Infrastructure.

EIPs core fund deploys primarily between VC Growth and PE Growth, with a handful of earlier bets. Additionally, they have a deep tech fund that is more focused on longer-dated technological breakthrough investments. Would say they fall a stage or two before TPG Rise, GA BnZ, Generation/Just Climate. Additionally building out more of a traditional PE strategy.

Junior team is basically all from IB, don’t really take MBAs from what I saw, all NYC for core fund. Don’t know about comp.

Their strategic angle is having a bunch of the big US utilities as LPs and offering a commercialization team for those trying to unlock that market. Also have added on some broader strategics.

Not super plugged in but was one of the few larger climate-specific VC/GE seats in NY outside of the MFs. 

Happy to give more perspectives if people have specific questions 

 

Analyst 2 in VC:

Went through process and close with folks there. Would say in climate / energy transition, funds fall between 4 buckets, truly early stage (Seed, Series A), VC Growth (Series A - C/D+), PE Growth (Typically Profitable) and Infrastructure.



EIPs core fund deploys primarily between VC Growth and PE Growth, with a handful of earlier bets. Additionally, they have a deep tech fund that is more focused on longer-dated technological breakthrough investments. Would say they fall a stage or two before TPG Rise, GA BnZ, Generation/Just Climate. Additionally building out more of a traditional PE strategy.



Junior team is basically all from IB, don’t really take MBAs from what I saw, all NYC for core fund. Don’t know about comp.



Their strategic angle is having a bunch of the big US utilities as LPs and offering a commercialization team for those trying to unlock that market. Also have added on some broader strategics.



Not super plugged in but was one of the few larger climate-specific VC/GE seats in NY outside of the MFs. 



Happy to give more perspectives if people have specific questions 


Surprisinglg saw a lot of young folks that are basically Partners there - any insights as to how they got there or how promotions work internally? Any insights into comp and carry?

 

Sure thing:

- Promotion / Partners - Agree seemed like Partners I spoke to were on the younger side (30s). Seems to be a mix of internal promote + external hire. My understanding was roles are partner-track but only a few years of associate history to go off of.

- Comp / Carry: Comp was between venture and growth (but closer to growth). Think it depends on team, but comparable to other $1B+ growth/vc funds i’ve seen. Associates get carry but believe it’s structured like phantom carry (?) and kicks in after a year.

Flagging there are few different funds so may vary fund to fund.

 

Any insight regarding:

  • How Associates are grouped, by fund vs core investment theme? 
  • General mix of day in the life working there?  sourcing new investments vs. diligencing existing opportunities vs. IC memo creation vs. marketing materials for LPs vs. value creation execution vs. portfolio management 
  • What type of financial modeling does this work entail? Currently in Power/Utilities group at global IB, so my understanding is a bit nascent about the VC/GE side vs. traditional infra PE modeling 
 

Not on the inside and recruiting intel maybe stale but:

  • Associates are placed into each fund and typically have one partner they primarily work under - so majority of work is targeted to that Partner’s coverage area / investment style
  • Didn't get the sense it was a completely sourcing heavy / call center shop - seemed like a fair mix of IC prep + portfolio work vs. other VC I’ve seen but may depend on team.
  • Would say it’s more P&U / Energy IB friendly vs. traditional venture for obvious reasons. Most folks are from a similar background to you from ones I met.
 

Went through process and close with folks there. Would say in climate / energy transition, funds fall between 4 buckets, truly early stage (Seed, Series A), VC Growth (Series A - C/D+), PE Growth (Typically Profitable) and Infrastructure.

EIPs core fund deploys primarily between VC Growth and PE Growth, with a handful of earlier bets. Additionally, they have a deep tech fund that is more focused on longer-dated technological breakthrough investments. Would say they fall a stage or two before TPG Rise, GA BnZ, Generation/Just Climate. Additionally building out more of a traditional PE strategy.

Junior team is basically all from IB, don’t really take MBAs from what I saw, all NYC for core fund. Don’t know about comp.

Their strategic angle is having a bunch of the big US utilities as LPs and offering a commercialization team for those trying to unlock that market. Also have added on some broader strategics.

Not super plugged in but was one of the few larger climate-specific VC/GE seats in NY outside of the MFs. 

Happy to give more perspectives if people have specific questions 

Do you know what kind of deals the infra side writes (check sizes, sectors) and what type of backgrounds they tend to hire into that fund as compared to the venture/growth side?

 

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