The Most Active Climate and Energy Transition Investors, Q3 2026

1. TPG Rise Climate (Martin Davidson): 7 Q3 vehicles, $7.49B disclosed. Rise Climate II Europe, II-X vehicles and Global South Initiative.

2. EnCap Investments (Jason DeLorenzo): 3 Q3 vehicles, amount undisclosed. Energy Capital Fund XIII and its B and C vehicles.

3. Sandbrook Capital: 3 Q3 vehicles, $1.93B disclosed. Climate Infrastructure Fund II, II-B and II-C.

4. Ultra Capital (Thomas Ferraro): 2 Q3 vehicles, $109.8M disclosed. Energy Transition Fund IV and its feeder.

5. Macquarie Asset Management: 1 Q3 vehicle, $376.0M disclosed. Green Energy and Climate Opportunities Fund.

6. Just Climate (Generation Investment Management): 1 Q3 vehicle, $366.9M disclosed. Natural Climate Solutions strategy.

AngelLinx Intelligence tracked 143 distinct energy and climate tagged vehicles in Q3 2026, and the six above are the established managers a climate founder can verify and approach. Browse the climate investor directory to find earlier-stage funds that do not yet appear in a quarterly ranking.

An Honest Note on Stage

Climate is the one sector where this list leans away from classic venture capital. The firms that opened the most new vehicles in Q3 mostly invest at the growth and infrastructure stage, writing larger checks into scaled companies and projects, while true seed and Series A climate funds usually raise smaller vehicles that show up as small series entries rather than named funds. A founder with a pre-revenue climate technology should read this ranking as a view of who will fund the next stage, not as a list of first-check investors.

The Large Managers: TPG Rise Climate, Sandbrook and Macquarie

TPG Rise Climate led the ranking with seven new vehicles. Its Rise Climate II Europe vehicle filed $7.4 billion in August, and TPG was reported to have secured roughly $10 billion for the broader Rise Climate II fund, which invests in private companies across clean energy, electric transportation and sustainable materials. Sandbrook Capital filed three Climate Infrastructure Fund II vehicles that share a $1.93 billion total, and its fund is aimed at renewable energy businesses. Macquarie Asset Management filed $376 million for its Green Energy and Climate Opportunities Fund, which has acquired a portfolio spanning solar, wind, storage and natural climate solutions.

The Founder-Accessible Names: Ultra Capital and Just Climate

Ultra Capital, a Philadelphia investor led by partners including Thomas Ferraro, filed $86.1 million for its Energy Transition Fund IV plus a $23.8 million feeder. The firm targets execution-oriented businesses in electrification, renewable energy, battery storage and EV charging that need roughly $5 million to $25 million of growth or asset capital and are not yet large enough for bigger infrastructure funds, which makes it the most accessible name here for a company with real revenue. Just Climate, founded in 2021 by Generation Investment Management, filed $366.9 million for its Natural Climate Solutions vehicle, and its strategy suits companies working on land use, forestry and agriculture-linked climate projects.

Where EnCap Fits

EnCap Investments, the Houston energy investor, opened three Energy Capital Fund XIII vehicles without disclosing amounts. The firm is best known for oil and gas and midstream investing, with energy transition as a growing sleeve, so founders should confirm that a specific vehicle covers their category before spending time on a pitch.

What This Means for Founders

Climate founders should sort investors by the capital they need rather than by fund size. If you need $5 million to $25 million for a project or growth round, Ultra Capital is built for you, while a company raising a large infrastructure-style round should look at Sandbrook and Macquarie. Climate rounds often combine equity with bridge loans or project debt, so model the blended cost before you accept a term sheet, and keep your cap table clean because strategic and infrastructure investors read it closely.

Browse the climate investor directory for more active funds, read the baseline mechanics of a lead investor if the term is new, or explore active capital on AngelLinx @ angellinx.ai/register.

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