DBL Partners
Impact investorPalo Alto · Series A · 10 people tracked
Also known as DBL MANAGEMENT LLC · DBL Partners TIAB 2018 · DBL Partners TIAB 2020 · DBL Partners TIAB 2022 · DBL Partners YBJ 2024
Investment thesis
DBL Partners pursues a 'double bottom line' strategy, backing companies where strong financial performance is inherently linked to positive social and environmental impact. The firm targets businesses capable of delivering top-tier venture capital returns while advancing sustainability, climate, agriculture, logistics, energy efficiency, and community-oriented outcomes. Its portfolio spans physical AI in agriculture, carbon removal, sustainable packaging, wildfire prevention, space, logistics, and clean energy technologies, reflecting a conviction that mission-driven companies can be commercially successful.
Source: firm website, verified Aug 3, 2026.
Team · 10 people
from the firm's website & public directories
What they invest in
from 23 of 74 portfolio companiesCleantech ×5Circular Economy ×4Energy ×4Enterprise Software ×4FoodTech ×4AI & Machine Learning ×3Marketplaces ×3Advanced Manufacturing ×2
HQs:United States×26
Investments · 74 tracked
founders shown can be your intro pathMass-market electric vehicle company
Palo Alto, US
James R Murdoch(Director)Brad W Buss(Director)Kimball Musk(Director)Ira Matthew Ehrenpreis(Director)Jerome M Guillen(Executive Officer)Deepak Ahuja(Executive Officer)
Board seatIra Matthew Ehrenpreis· per SEC Form D · $20M raise · filed Nov 2018
San Francisco, US
Mathias Schilling(Director)Mark Kingdon(Director)Cynthia Ringo(Director)Keval Desai(Director)Matt Gustke(Executive Officer)Julie Wainwright(Executive Officer, Director)
EnergySan Francisco, US
Jackalyne Pfannenstiel(Director)Susan Kennedy(Executive Officer, Director)Kellogg Warner(Director)
Board seatNancy Pfund· per SEC Form D · $12.5M raise · filed Jan 2020
Goleta, US
Walter Robb(Director)Vijay Pande(Director)Jason Spievak(Director)James Rogers(Executive Officer, Director, Promoter)Yves Sisteron(Director)
Board seatIra Ehrenpreis· per SEC Form D · $33M raise · filed Dec 2016
Kenneth Hood(Director)Rolph Decker(Director)Nathan Gilliland(President and Chief Executive Officer)Ricardo Lopez(Chief Financial Officer, Treasurer and Secretary)
Board seatNancy Pfund· per SEC Form D
San Francisco, US
Christopher Adams Muller(Executive Officer)Jamieson Michael John Knowlton(Executive Officer, Director)Stephen Bradley Milne(Executive Officer, Director)Alexander Athol Sandy Gibson(Executive Officer, Director)
Board seatIra Ehrenpreis· per SEC Form D · $20M raise · filed Nov 2021
Advanced ManufacturingOakland, US
Nancy Pfund(Director)Tory Patterson(Director)Julie Corbett(Director)Ira Maroofian(Executive Officer, Director)
Board seatNancy Pfund· per SEC Form D · $1.8M raise · filed May 2015
Fremont, US
Board seatNancy Pfund· per SEC Form D · $15.3M raise · filed Jul 2015
EnergyGrand Cayman
Francis Hegelsen(Executive Officer, Director)Lyndon Rive(Director)Bill Lenihan(Executive Officer)Erica Ann Mackey(Director)Samer Salty(Director)Nancy Pfund(Director)
Board seatNancy Pfund· per SEC Form D · filed May 2016
South Salt Lake, US
Grant Morgan(Executive Officer, Director)Jennifer Nuckles(Director)Rob Theis(Director)Benjamin Boyer(Executive Officer, Director)
Board seatIra Ehrenpreis· per SEC Form D · $45M raise · filed Jun 2021
EnergyMilpitas, US
Mehrdad Moslehi(Executive Officer, Director)Marinus (Mark) Kerstens(Executive Officer)Reyad Fezzani(Director)Jan van Dokkum(Director)Greg Williams(Director)Michael Wingert(Executive Officer, Director)
Board seatIra Ehrenpreis· per SEC Form D · $138.4M raise · filed Feb 2016
Eliminates plastic and harmful chemicals from packaging to create a waste-free world.
Scottsdale, US
Troy Swope(Executive Officer, Director)Eric Johnson(Executive Officer)Kathryn King(Executive Officer)
BoardJonathan Silver(Director)
Board seatIra Ehrenpreis· per SEC Form D
West Hollywood, US
Tarkan Maner(Director)Marco McCottry(Executive Officer)Ira Ehrenpreis(Director)Bruce McAllister(Executive Officer)Ben Boyer(Director)Duncan Davidson(Director)
Board seatIra Ehrenpreis· per SEC Form D · $8.5M raise · filed Apr 2021
DBL is a venture capital firm that invests in mission-driven companies across impact and sustainability sectors, targeting both financial returns and social and environmental outcomes.
Impact & Social Good
Technology-enabled logistics company focused on making time-critical urgent shipments more reliable and cost-effective.
Andela connects global technologists with enterprise opportunities and serves as a platform for hiring, building AI systems, and upskilling teams.
AI & Machine LearningDeveloper ToolsEnterprise SoftwareFuture of WorkHR TechWashington, D.C., US
Carrol Chang(CEO)Barun Singh(Chief Product & Technology Officer)Geoff MacNeil(Chief Revenue Officer)Kennith Jackson(Senior Vice President of Solutions)inErin Lothson(General Counsel)inLila(VP of People)in
Apeel Sciences develops plant-based coatings derived from fatty acids and glycerides—ingredients naturally found in plant peels and seeds—that are applied to fresh fruits and vegetables to extend shelf life, preserve flavor and nutrients, and reduce reliance on refrigeration, pesticides, waxes, and plastics.
Circular EconomyCleantechFoodTech
JamesLouJenny
Apeel Sciences develops food-preserving products made from edible plant materials to extend shelf life and reduce food waste.
FoodTech
Luiz(CEO)
Chestnut provides software technology for insurance carriers and producers to manage distribution, improve operational efficiency, and optimize growth.
Enterprise SoftwareInsurTechSaaS
Develops nature-based carbon removal projects including afforestation and improved forest management in the United States.
FBN operates a marketplace platform for farmers to purchase inputs and supplies directly from manufacturers, access financing and marketing programs, and connect with grain buyers.
AgTechB2B MarketplacesFoodTechSan Carlos, US
Lorenzo Gonzalez(Director)Elliot Shmukler(Director)Mike DeCamp(Director)Diego Lopez Casanello(Executive Officer, Director)Charles Baron(Executive Officer)Alan Willits(Director)
Fiber Global manufactures formaldehyde-free MDF and HDF panels made from recycled fibers for use in cabinetry, flooring, furniture, and wall systems.
Advanced ManufacturingCircular EconomyNew MaterialsIndiana, US
Collaborative mapping platform for teams to create, edit, and share geospatial data in real time
Provides biomass burial and reforestation solutions for land damaged by wildfire.
Develops cutting edge electronic switches to create a more energy efficient and sustainable world.
Menlo Micro develops the Ideal Switch, a solid-state electronic switching technology that replaces traditional relays and electromechanical switches with superior energy efficiency, reliability, and performance.
CleantechSemiconductors
Manufactures rapid-response shelter products for humanitarian and disaster response purposes.
Planet operates a web-geo platform that provides daily satellite imagery and foundational analytics of Earth's landmass for businesses, governments, and research institutions.
AgTechData & InfrastructureDeep TechSpace TechSan Francisco, US
Will Marshall(Co-founder and CEO)Robbie Schingler(Co-Founder and Chief Strategy Officer)Christopher R. Boshuizen(Executive Officer, Director)Zachary Bogue(Director)Steve Jurvetson(Director)
Prevents catastrophic wildfires using a distributed network of autonomous aircraft that respond to ignitions within seconds.
Revolution Foods is the largest K-12 school meal vendor in California, serving nutritious meals to students and seniors.
FoodTechImpact & Social GoodCalifornia, US
Kristin Groos Richmond(Co-founder)Kirsten Saenz Tobey(Co-founder)George Blanco(CEO)inKathy Roland(Director)Jed Smith(Director)Richard Schnieders(Director)
R-Zero provides AI software that reduces HVAC energy consumption in buildings by 20-40% using real-time occupancy and air quality data, with no infrastructure changes required.
CleantechEnterprise SoftwareIoTUnknown, US
Rows marked “SEC filing” are inferred from directors named on the company's SEC Form D — public regulatory data, not a portfolio list published by the firm.
Fund performance · per public LP disclosures · 2
as of Sep 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| DBL Partners TIAB 2020LPs: Orange County Employees Retirement System | 2020 | — | 44.8% | 6.80x | — |
| DBL Partners TIAB 2018LPs: Orange County Employees Retirement System | 2019 | — | 40.4% | 9.70x | — |
Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).
Frequently asked questions
- What stage does DBL Partners invest at?
- DBL Partners invests at the Series A stage.
- What sectors does DBL Partners focus on?
- DBL Partners focuses on AgTech, AI & Machine Learning, Circular Economy, Cleantech, Climate Tech, Deep Tech, Energy, Impact & Social Good, Logistics & Supply Chain, Sector Agnostic, Space Tech.
- Where is DBL Partners located?
- DBL Partners is headquartered in Palo Alto, US.
Media · Podcasts & interviews
featuring the teamNancy Pfund, Founder and Managing Partner of DBL Partners
The Climate Group · Nancy Pfund
Investing in No-Sacrifice Models for Climate: Nancy Pfund, DBL Partners | What do cemeteries, luxury handbags, high-quality audio, and selling wheat have in common? If you ask Nancy Pfund, founder and managing partner of DBL... | By Harvard Business School
Nancy Pfund · facebook.com
Images
Co-investors · 18
GV (formerly Google Ventures) is a venture investment firm that backs founders across many industries, aiming to build long-term relationships and support companies across multiple stages and milestones.
Spark Capital is a venture capital firm that backs founders across technology and consumer companies; it notably led Twitter's Series B in 2008.
Mayfield Fund is a venture capital firm publishing perspectives on artificial intelligence, focusing on what it calls the Collaborative Intelligence era where humans and AI work together.
Qualcomm Ventures is the corporate venture investment arm associated with Qualcomm, backing technology companies from early to growth stage across multiple sectors.
Paladin Capital Group is a global investment firm backing innovative companies in cybersecurity, secure AI, and deep tech.
Piva Capital is a venture capital firm that invests in companies aiming to shape the future for humanity.
TLcom Capital is a venture capital firm that invests in African founders and technology companies across stages from seed to growth.
Kleiner Perkins is a venture capital firm that backs founders across technology and life sciences, with a portfolio of companies from early stage through growth.
SOSV is a deep tech venture capital firm that makes first-check pre-seed investments and follow-on rounds in startups focused on human and planetary health, providing lab space and hands-on support at its US locations.
Scale Venture Partners is an early-stage investor that partners with AI companies to help them grow from founder-led growth into a scalable go-to-market operation.
Energy Impact Partners is an investment firm that connects entrepreneurs with major corporates to help transform the global economy toward a more sustainable future.
▶6 more co-investors
muru-DNational Science FoundationBow CapitalAsset Management VenturesAcre Venture PartnersVoLo Earth Ventures
Firms observed investing alongside DBL Partners, from public investor directories. Shared companies are the overlap with DBL Partners's recorded portfolio.
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