What Spring Lane Capital does

Spring Lane Capital is a Boston-based private investment management firm (legally structured as Spring Lane Management LLC, registered with the SEC) that provides project finance and corporate equity to sustainable real-asset platforms operating in the 'missing middle' between venture and infrastructure capital. Co-founded in 2009 by Christian Zabbal, Nikhil Garg, and Rob Day, and officially launched in 2019, the firm deploys capital across four declared verticals: Energy (decentralized renewables, geothermal, microgrids, battery storage), Waste to Value (circular-economy technologies), Transportation (sustainable mobility networks), and Food & Ag (intelligent agriculture). The firm maintains offices in Boston (headquarters) and Montreal, with 15 team members spanning investing, portfolio operations, and finance roles.

The firm operates two principal investment vehicles — Fund I ($156 million, launched 2019) and Fund II ($290 million, launched 2022) — and co-manages a C$100 million Canadian Distributed Energy Resources fund with AltCrest Energy and DevEngine. Revenue is generated through management fees and carried interest on these institutional fund structures, with capital raised from institutional investors and qualified limited partners. Notable portfolio investments include Zanskar (AI-enabled geothermal), Soluna Holdings (green data centers), Spring Free EV (EV fleet financing), EVCS (EV charging), Aries Clean Technologies (waste-to-value), and Vandalia Produce.

Spring Lane differentiates through a 'builder's mindset' team comprising builders, developers, and financiers rather than passive investors, providing hands-on support through permitting, contracts, and execution. The firm also operates DeveloperU, an intensive two-day workshop program that trains the next generation of climate infrastructure developers and serves as a deal-origination pipeline. Portfolio impact for 2024 was reported as 0KtCO₂ — approximately equivalent to taking 25,000 cars off the road — across 14+ platform investments.

Name

Spring Lane Capital

Legal name

Spring Lane Management LLC

Website

https://www.springlanecapital.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

Spring Lane Capital is a Boston-based private investment firm that provides project finance and corporate equity to sustainable real-asset platforms in the 'missing middle' between venture and infrastructure capital, deploying Fund I ($156M) and Fund II ($290M) across Energy, Waste to Value, Transportation, and Food & Ag.

Ownership category

akta.pro rank

Product category

Sustainable Infrastructure Private Equity

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Energy & Power Infrastructure Funds (Generation, Transmission, Storage) (FSANAEAB)

akta.pro secondary industries

Renewables & Energy Transition Funds (Solar, Wind, Hydrogen, CCUS) (FSANAEAD), SDG / Thematic Sustainable Investment Funds (FSANAJAN), Transition / Engagement & Stewardship Funds (FSANAJAO)

Keywords

• Sustainable infrastructure investing
• Project finance
• Private equity funds
• Climate finance
• Real asset investment

Headquarters

HQ city

Boston

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Investment Management: As a registered investment adviser with the SEC, Spring Lane Capital generates revenue through management fees and carried interest from its funds (Fund I - $156M, Fund II - $290M). The firm provides project finance and corporate equity to sustainable real asset platforms.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

Spring Lane Capital manages private investment funds (Fund I at $156M launched in 2019 and Fund II at $290M launched in 2022) that provide tailored project finance and corporate equity to sustainable real-asset platforms across Energy, Waste to Value, Transportation, and Food & Ag verticals. The firm targets the "missing middle" between venture capital and traditional infrastructure debt, deploying structured capital alongside hands-on operational support. It also operates DeveloperU, a two-day workshop program that trains climate tech founders and operators on project development and finance.

Product overview

Spring Lane Capital is a sustainable real-asset investment firm that partners with real-asset platforms across the 'missing middle' to provide tailored project finance and corporate equity. The firm operates two investment funds (Fund I at $156M launched in 2019, and Fund II at $290M launched in 2022) that invest across four verticals: Energy, Waste to Value, Transportation, and Food & Ag. The firm also offers DeveloperU, an educational workshop program for climate builders, and co-manages a C$100M Canadian Distributed Energy Resources fund. Spring Lane Capital takes a builder's approach, providing hands-on partnership and structured capital alongside development, operations, and finance expertise to scale sustainable infrastructure companies.

Differentiator

Problem solved

Functional benefit

Brands

• DeveloperU: A comprehensive curriculum and two-day workshop designed to bridge the gap between technology innovation and commercial deployment, taught by Spring Lane Capital and CREO operating teams.

Products and services

• Fund I
• Fund II
• Canadian Distributed Energy Resources (DER) Fund
• DeveloperU

Quantifiable outcome

• Portfolio impact of 0KtCO₂ in 2024, equivalent to taking ~25,000 cars off the road
• +1 more outcomes

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core.

• AltCrest EnergycoreStrategic or Co-development Partner · 1 December 2025AltCrest Energy, DevEngine, and Spring Lane Capital launched a C$100 million Distributed Energy Resources fund targeting Canada's renewable energy sector including solar, geothermal, microgrid, and battery systems. The partnership uses an Energy-as-a-Service model.
• DevEnginecoreStrategic or Co-development Partner · 1 December 2025Development Engine Partners joined with AltCrest Energy and Spring Lane Capital to launch a C$100 million DER fund in Canada, focusing on distributed energy resources and Energy-as-a-Service solutions.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Generate Capital: Generate Capital is a specialty financier that builds, owns, operates, and finances sustainable infrastructure — directly competing with Spring Lane in the 'missing middle' between venture and traditional infrastructure capital.
• Just Climate: Just Climate is an investment firm dedicated to scaling capital for the climate transition; it co-led Zanskar's $40M Development Capital Facility with Spring Lane, making it both an active co-investor and a directly comparable peer in climate infrastructure financing.
• S2G Ventures: S2G Ventures is a multi-stage climate and food venture and growth investor; Spring Lane has co-hosted content with S2G, and they share focus on deploying capital across sustainable real assets and food/agriculture.
• Energy Impact Partners: Energy Impact Partners is a utility-backed venture and growth investor focused on the decarbonization of energy; it competes with Spring Lane for climate infrastructure and distributed energy deals.
• CREO Syndicate: CREO is a network of climate developers and investors that co-delivers Spring Lane's DeveloperU program; it serves as a sourcing and community counterpart to Spring Lane's project finance activities in sustainable infrastructure.
• Lowercarbon Capital: Lowercarbon Capital is a venture firm funding climate solutions across energy, industry, and carbon removal; it has co-invested with Spring Lane in Zanskar and shares the broader sustainable infrastructure thesis.

Emerging players

• CleanCapital: CleanCapital provides financing across the lifecycle of distributed solar and storage projects — a narrower but directly adjacent platform serving the same 'missing middle' niche in renewable energy project finance.
• Prelude Ventures: Prelude Ventures is an early-stage venture firm focused on decarbonization technologies; it overlaps with Spring Lane at the venture end of the 'missing middle' where climate solution companies are first commercializing.

Broad incumbents

• Brookfield Renewable Partners: Brookfield Renewable is one of the largest publicly listed renewable power platforms globally; it competes with Spring Lane for capital deployment into renewable generation, storage, and distributed energy assets at larger scale.
• KKR Global Infrastructure: KKR's infrastructure platform invests across energy transition and climate infrastructure; it represents a larger, more diversified competitor pushing into the development-stage deals Spring Lane targets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/springlanecap
• LinkedInlinkedin.com/company/11234330

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments16 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Spring Lane Capital