Energy Spectrum Capital closes eighth VC fund at USD969m

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Energy Spectrum Capital, a Dallas-based venture capital firm focused on energy infrastructure, has held the final closing of Energy Spectrum Partners VIII (“Fund VIII”) with total capital commitments of USD969 million.

With strong support from both new and existing limited partners, Fund VIII will continue to invest primarily in midstream assets within the energy industry. Midstream assets include oil and natural gas gathering and transportation systems, processing and treating plants and storage facilities. A diverse mix of 82 limited partners committed to Fund VIII, including private and public pension funds, insurance companies, university endowments, foundations and family offices.

“The final close of Fund VIII enables us to continue wisely deploying capital on behalf of our limited partners, as we have done over the past 25 years,” says Thomas O Whitener Jr, President and Founding Partner of Energy Spectrum Capital. “In the current environment, we believe we are well positioned to identify high quality midstream assets and take advantage of opportunities amid the significant price dislocations in the current market. We appreciate the support of our limited partners and look forward to executing on their behalf.”

James P Benson, Founding Partner of Energy Spectrum Capital, adds: “This new capital provides Energy Spectrum with a renewed mandate to support best-in-class management teams to build successful midstream companies. Our 10 investment professionals bring an average of 26 years of experience in energy markets, which we believe will enable us to profitably navigate the market volatility and build another strong portfolio.”

To date, Fund VIII has committed to four new portfolio companies and has a fifth in documentation. Three of the four existing companies are led by management teams with whom Energy Spectrum has successfully partnered previously.

Baker Botts served as legal counsel for Fund VIII.