The Westly Group Raises $100M Oversubscribed Seed Fund to Transform Key Sectors

The Westly Group, based in Menlo Park, California, has successfully secured an oversubscribed $100 million seed fund to support entrepreneurs who are revolutionizing the energy, mobility, building, and industrial sectors. This fund aims to target industries that collectively contribute to over 50% of the global GDP.

The firm's four core funds, including a $312 million Fund IV focusing on A, B & C Round investments, have contributed to its success. Since its establishment in 2007, The Westly Group has been a strong supporter of exceptional entrepreneurs, resulting in nine IPOs and four multi-billion dollar exits, including Tesla, SentinelOne, Luminar, and Procore.

Notable limited partners in the seed fund include existing investors such as Alaska Airlines, Duke Energy, Origin Energy, American Electric Power, and Trane Technologies, along with new investors like PPL, Pinnacle West Corporation, ONEOK, OGE Energy Corp., Vontier, Avista, and Evergy.

The Westly Group's investment focus is on technological innovation that impacts global climate change, as well as digitization and automation across industrial sectors. The firm's expansion includes a family of funds investing from seed through Series C, an enlarged team, and newly opened offices in San Francisco and Washington, D.C., in addition to the Silicon Valley office.

The first seed fund investments have been directed towards Condoit, an all-in-one data platform for electrical engineers and commercial electricians, Diagon, a supply chain software company, and Sightline, a market intelligence company offering insights into climate sectors and technologies. Read the full press release here.