Houston · Seed–Late Stage · 2 people tracked
Also known as ENCAP ETF MANAGEMENT, LLC · ENCAP INVESTMENTS L.P.
Investment thesis
EnCap invests in the energy sector across upstream, midstream, and energy transition platforms, backing seasoned management teams with proven track records, strong technical and operational skills, and well-defined business plans. The firm applies a conservative, disciplined approach to deploying capital in incremental stages as business plans prove themselves. It favors experienced teams that value strong stakeholder relationships and limits leverage to balance capital preservation with value creation. EnCap also targets early-stage opportunities where its sector expertise adds value, and continues to identify attractive segments including those arising from the global transition to a lower-carbon energy system. ESG factors are integrated into its investment decision-making.
Source: firm website, verified Aug 25, 2026.
Team · 2 people
from the firm's website
What they invest in
from 21 of 40 portfolio companiesEnergy ×21Cleantech ×7Climate Tech ×6Hardware ×1PropTech ×1SaaS ×1
HQs:United States×14
Investments · 40 tracked
founders shown can be your intro pathAither Systems manufactures and manages Battery Energy Storage Systems and Distributed Energy Resources (DERs) designed for networks, offering behind-the-meter backup power, load shifting, and emissions reduction.
CleantechEnergyHardware
Catalyze develops, finances, builds, owns, and operates on-site renewable energy systems — combining solar, storage, and EV charging — for commercial and industrial real estate owners and operators across national portfolios in the US, with no upfront capital cost to the property owner.
CleantechClimate TechEnergyPropTechSaaSMadison, US
Mohan Balachandran(Executive Officer, Director)Travis Good(Executive Officer, Director)
BoardMark Bakken(Director)James Burgum(Director)Don Layden(Director)
Co-investorsInnosphere VenturesArthur VenturesBaird Venture PartnersChicago VenturesLewis & Clark Ventures
Double Eagle Energy V is an oil and gas company that acquires leasehold interests and mineral royalties and pursues development projects, focused on the Permian Basin and operating across Texas, the Rockies, and the Mid-Continent.
EnergyFort Worth, US
Co-investorsElda River
Solar Proponent is a utility-scale solar developer that develops PV solar and integrated storage projects, purchasing or leasing land and partnering with developers to build large-scale solar farms in the ERCOT market.
CleantechClimate TechEnergyAustin, US
Verdun Oil Company is a privately held oil and gas company that acquires, develops, and produces assets in the Eagle Ford shale and Austin Chalk trends of South Texas.
EnergyHouston, US
Ridge Runner Resources II (3RO) is a privately held oil and gas company.
EnergyHouston, US
Dunamis Energy is an oil and gas operator focused on projects in Colorado, managing drilling pads and related upstream operations while engaging with local communities and mineral owners.
Energy
Encino Environmental provides emissions monitoring, testing, and regulatory compliance services, including combustion analysis, leak detection and repair (LDAR), stack emissions testing, continuous emissions monitoring systems (CEMS), and satellite-based methane detection.
CleantechClimate TechEnergy
Linea Energy is an independent power producer that develops, owns, and operates wind, solar, and battery storage projects, targeting a multi-gigawatt build of renewable and storage capacity.
CleantechClimate TechEnergy
Mantle Reach Power is a geothermal energy developer building a portfolio of clean, around-the-clock power generation projects across North America.
CleantechClimate TechEnergy
Novo Oil and Gas is a privately held oil and natural gas company that develops assets using exploration, drilling, and completion techniques.
EnergyOklahoma City, US
Paloma Natural Gas is an independent exploration and production company focused on developing and producing natural gas, primarily in the Louisiana Haynesville region.
Energy
Paloma Resources is an oil and gas exploration and production company with operations spanning conventional and offshore assets, including Permian Basin and Barnett properties, as well as solar and wind energy interests.
Energy
Parliament Energy develops, builds, and manages utility-scale solar energy projects, including its 640MWdc Parliament Solar project in Waller County, Texas, which powers roughly 88,000 homes annually.
CleantechClimate TechEnergyHouston, US
PennEnergy Resources is a shale development company focused on natural gas exploration and production, including responsibly sourced gas.
Energy
Plains All American is a North American energy company involved in the transportation and handling of energy resources, serving customers with logistics and infrastructure solutions.
Energy
Co-investorsStonepeak
Sabalo Energy is a U.S.-focused energy company engaged in the development of energy resources.
Energy
Tumbleweed Royalty acquires mineral, royalty, and overriding royalty interests in the Permian Basin across Texas and New Mexico.
Energy
John SellersCody Campbell
Portfolio news
latest coverage across their companiesPennEnergy Resources · marcellusdrilling.com · Oct 29, 2025
Public market activity · per SEC filings
what is this? ⓘ58 insider ownership filings (Forms 3/4/5)
Files 13F institutional holdings reports · latest Aug 2026
From the firm's own SEC EDGAR filings — stakes and insider roles in public companies, typically portfolio companies after an IPO. Not a portfolio list published by the firm.
Frequently asked questions
- How many investments has EnCap Energy Transition made?
- EnCap Energy Transition has 40 tracked investments, including 1 dated in the last 24 months.
- What stage does EnCap Energy Transition invest at?
- EnCap Energy Transition invests at the Seed, Growth, Late Stage stages.
- What sectors does EnCap Energy Transition focus on?
- EnCap Energy Transition focuses on Cleantech, Climate Tech, Energy.
- Where is EnCap Energy Transition located?
- EnCap Energy Transition is headquartered in Houston, US.
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