VC Firm Westly Group Closes $100 Million Seed Fund

<p><strong>MENLO PARK<&sol;strong> &&num;8212&semi; Venture capital firm The Westly Group has raised an oversubscribed &dollar;100 million seed fund to invest in entrepreneurs transforming the energy&comma; mobility&comma; building&comma; and industrial sectors that make up more than 50 percent of the world’s GDP&period;<&sol;p>&NewLine;<p>The seed fund is an extension of the firm’s four core funds&comma; which includes a &dollar;312 million Fund IV focusing on A&comma; B &amp&semi; C Round investments&period;<&sol;p>&NewLine;<p>Since its founding in 2007&comma; The Westly Group has backed exceptional entrepreneurs&period; The firm has nine IPOs with four multi-billion dollar exits including Tesla&comma; SentinelOne&comma; Luminar&comma; and Procore&period;<&sol;p>&NewLine;<p>&&num;8220&semi;Our new seed fund will enable us to support visionary entrepreneurs&comma; providing the capital and strategic guidance to reshape the world&&num;8217&semi;s biggest industries&comma;&&num;8221&semi; said Jason Kalira&comma; Partner at The Westly Group&comma; who helps lead the seed fund&period;<&sol;p>&NewLine;<p><b><span class&equals;"bwuline">Building Partnerships for Commercial Success<&sol;span><&sol;b><&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;Our core differentiator is that we provide our portfolio companies with unparalleled access to our global network of 32 leading energy&comma; mobility&comma; and industrial companies&comma;” said Steve Westly&comma; Managing Partner at The Westly Group&period;<&sol;p>&NewLine;<p>Limited partners in the seed fund include existing investors Alaska Airlines&comma; Duke Energy&comma; Origin Energy&comma; American Electric Power&comma; and Trane Technologies&period; New investors include PPL&comma; Pinnacle West Corporation&comma; ONEOK&comma; OGE Energy Corp&period;&comma; Vontier&comma; Avista&comma; and Evergy&period; They join a group of financial institutions and prominent family offices to close out the seed fund&period;<&sol;p>&NewLine;<p><b><span class&equals;"bwuline">Investing in Global Impact<&sol;span><&sol;b><&sol;p>&NewLine;<p>The Westly Group seeks to invest in technological innovation that impacts global climate change and the digitization and automation across industrial sectors&period;<&sol;p>&NewLine;<p>The firm now has a family of funds investing from seed through Series C&comma; has expanded its team&comma; and opened new offices in San Francisco and Washington&comma; D&period;C&period; in addition to the Silicon Valley office&period;<&sol;p>&NewLine;<p><b><span class&equals;"bwuline">First Seed Fund Investments Focus on Digitization&comma; Data<&sol;span><&sol;b><&sol;p>&NewLine;<p>The Westly Group’s seed fund has led three investments to date&colon;<&sol;p>&NewLine;<ul class&equals;"bwlistdisc">&NewLine;<li><a href&equals;"https&colon;&sol;&sol;cts&period;businesswire&period;com&sol;ct&sol;CT&quest;id&equals;smartlink&amp&semi;url&equals;https&percnt;3A&percnt;2F&percnt;2Fcondoit&period;io&percnt;2F&amp&semi;esheet&equals;54089724&amp&semi;newsitemid&equals;20240701742925&amp&semi;lan&equals;en-US&amp&semi;anchor&equals;Condoit&amp&semi;index&equals;2&amp&semi;md5&equals;0e34eeebb9cb2073aca4814973a7b0e8" target&equals;"&lowbar;blank" rel&equals;"nofollow noopener" shape&equals;"rect">Condoit<&sol;a>&comma; an all-in-one data platform designed for electrical engineers and commercial electricians in the field&comma; with a mission to transform electrical infrastructure<&sol;li>&NewLine;<li><a href&equals;"https&colon;&sol;&sol;cts&period;businesswire&period;com&sol;ct&sol;CT&quest;id&equals;smartlink&amp&semi;url&equals;https&percnt;3A&percnt;2F&percnt;2Fwww&period;diagon&period;ai&percnt;2F&amp&semi;esheet&equals;54089724&amp&semi;newsitemid&equals;20240701742925&amp&semi;lan&equals;en-US&amp&semi;anchor&equals;Diagon&amp&semi;index&equals;3&amp&semi;md5&equals;caea79846364f9df0c55e239fe25c007" target&equals;"&lowbar;blank" rel&equals;"nofollow noopener" shape&equals;"rect">Diagon<&sol;a>&comma; a supply chain software company focused on next-generation&comma; automated capital expenditure &lpar;CapEx&rpar; procurement for manufacturers<&sol;li>&NewLine;<li><a href&equals;"https&colon;&sol;&sol;cts&period;businesswire&period;com&sol;ct&sol;CT&quest;id&equals;smartlink&amp&semi;url&equals;https&percnt;3A&percnt;2F&percnt;2Fwww&period;sightlineclimate&period;com&percnt;2F&amp&semi;esheet&equals;54089724&amp&semi;newsitemid&equals;20240701742925&amp&semi;lan&equals;en-US&amp&semi;anchor&equals;Sightline&amp&semi;index&equals;4&amp&semi;md5&equals;1d7d1ff79907dbd53307d304abfa9813" target&equals;"&lowbar;blank" rel&equals;"nofollow noopener" shape&equals;"rect">Sightline<&sol;a>&comma; a market intelligence company that provides investors&comma; corporations&comma; and governments with insights into climate sectors and technologies<&sol;li>&NewLine;<&sol;ul>&NewLine;