Dallas energy investing giant NGP announced the final close of its latest energy transition fund at $700 million.
Why it matters: The firm has backed some of the most recognized names in climate tech, including long-duration storage developer Form Energy and geothermal heating and cooling installer Dandelion Energy.
Details: The fund, NGP Energy Transition IV, has so far invested $100 million in seven portfolio companies.
In addition to Form and Dandelion, portfolio companies include rare earth magnet manufacturer Noveon Magnetics and TPG-backed carbon credits business Rubicon Carbon, NGP said.
The fund has also invested in electric fleet charging infrastructure provider EV Realty, per WSJ.
State of play: NGP has raised $1.23 billion across two funds to invest in low-carbon energy and climate tech.
