To that end, a newly-formed venture capital firm called Piva announced today the launch of its inaugural $250 million fund with the mission of ushering in “a new era of industry and energy.” Specifically, the San Francisco-based firm is looking to invest in early-to-growth stage companies across North America, Europe and Asia.
While at GE, Angel also served as the managing director for Energy Technology Ventures (ETV), a $300 million joint venture formed by GE, NRG Energy Inc. and ConocoPhillips.
“New types of technologies will solve the most critical industrial, material and energy problems we face today,” Colombia-born Angel said.
Piva plans to invest in 15 to 20 companies out of the new fund with an initial investment ranging from $5 million to $10 million.
We’re also looking to increase new sources of energy.”