Black Coral Capital

What Black Coral Capital does

Black Coral Capital is a privately-held venture capital and private equity firm that invests in management teams reinventing energy and resource markets. The firm focuses on cleantech and resource innovation, deploying capital across venture, growth equity, and project finance stages. Its stated investment thesis prioritizes business model innovation—new markets, integrated solutions, new channels, and new financial structures—over pure technology innovation, on the view that market deployment gaps, not technology gaps, are the binding constraint in cleantech.

The firm's portfolio comprises nine companies spanning community solar (Clean Energy Collective, OneRoof Energy), intelligent LED lighting (Digital Lumens), modular water treatment (newterra), whole-home energy solutions (Next Step Living), energy analytics (Noesis Energy), cloud-based load automation (Powerit Solutions), semiconductor chipsets for distributed energy conversion (Solantro), and energy-efficient construction (ZETA Design+Build). The firm is headquartered in Boston with an additional office in Montreal, Canada, and is a co-founder of the Cleantech Syndicate, a consortium of family offices investing in cleantech.

Black Coral Capital generates returns through equity investments in cleantech companies, realizing gains via portfolio exits including IPOs, acquisitions, and secondary transactions. The firm employs a sales-led go-to-market approach, relying on a proprietary management team assessment methodology and its network within family office and strategic communities for deal sourcing. Investment terms are negotiated individually with each portfolio company, with no standardized public pricing model. The firm is led by Managing Partners, Partners, a Vice President, and a Senior Associate based across the Boston and Montreal offices.

Name

Black Coral Capital

Legal name

Black Coral Capital

Website

https://blackcoralcapital.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

1–10 employees

Short description

Black Coral Capital is a privately-held venture capital and private equity firm headquartered in Boston with a Montreal office, investing in cleantech management teams across venture, growth equity, and project finance stages. Its nine-company portfolio spans solar, water, lighting, analytics, and energy efficiency.

Ownership category

akta.pro rank

Product category

Venture Capital / Private Equity (Cleantech)

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Finance Services (6199)

akta.pro primary industry

Corporate Impact / Climate & Sustainability CVC (FSANAHAJ)

Keywords

• Venture capital investing
• Cleantech private equity
• Growth equity investments
• Project finance funding
• Clean energy capital

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, Marketing or Sales

Revenue model

1. Private Equity and Venture Capital Returns: Black Coral Capital generates returns through equity investments in cleantech companies across venture capital, growth equity, and project finance stages. Returns are realized through portfolio company exits including IPOs, acquisitions, and secondary transactions.

Go-to-market motion1 record

Marketing channels3 records

Core offering

Black Coral Capital is a venture capital and private equity firm that invests in cleantech management teams reinventing energy and resource markets. The firm deploys capital across venture capital, growth equity, and project finance stages into portfolio companies spanning solar, water treatment, energy analytics, LED lighting, residential solar financing, smart grid, semiconductor chipsets, and energy-efficient construction. Returns are realized through portfolio company exits including IPOs, acquisitions, and secondary transactions.

Product overview

Black Coral Capital is a venture capital and private equity firm specializing in cleantech and resource innovation investments. The firm offers investment products across venture capital, growth equity, and project finance stages, deploying capital into management teams reinventing energy and resource markets. The firm is also a co-founder of the Cleantech Syndicate, a consortium of family offices investing in Cleantech. Their portfolio spans nine portfolio companies including Clean Energy Collective (community-based solar), Digital Lumens (intelligent LED lighting systems), newterra (modular water treatment), Next Step Living (whole-home energy solutions), Noesis Energy (energy analytics), OneRoof Energy (residential solar financing), Powerit Solutions (load automation/smart grid), Solantro (semiconductor chipsets for energy conversion), and ZETA Design+Build (energy-efficient construction).

Differentiator

Problem solved

Functional benefit

Brands

• Cleantech Syndicate: A consortium of family offices investing in Cleantech, co-founded by Black Coral Capital.

Products and services

• Black Coral Capital Investment Services
• Cleantech Syndicate Co-Investment Consortium

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered core and minor.

• Cleantech SyndicatecoreStrategic or Co-development PartnerBlack Coral Capital is a co-founder of the Cleantech Syndicate, a consortium of family offices investing in Cleantech. This partnership provides co-investment opportunities and access to a broader network of investors focused on clean technology.
• New England Clean Energy CouncilminorStrategic or Co-development PartnerRob Day serves on the Board at the New England Clean Energy Council, an organization supporting clean energy innovation in the Northeast region.
• Cleantech Open Northeast RegionminorStrategic or Co-development PartnerRob Day served as Chairman of the Cleantech Open - Northeast Region, a cleantech business competition and accelerator organization.
• Renewable Energy Business NetworkminorStrategic or Co-development PartnerRob Day was previously a co-founder of the Renewable Energy Business Network, a non-profit organization which was acquired in 2009 by the Clean Economy Network, now part of Advanced Energy Economy.

Scale indicators1 record

Recent moves6 records

Expansion highlights4 records

Regional players

• Cycle Capital Management: Quebec-based cleantech venture and growth investor with overlap to Black Coral's Montreal office. Comparable as a North American cleantech specialist with portfolio overlap in water and energy, anchored in the same Quebec ecosystem.

Direct peers

• Prelude Ventures: Early-stage cleantech and sustainability venture investor with a focus on commercial-ready technologies. Comparable as a specialist cleantech fund operating across similar stages and sub-sectors (energy, materials, mobility) as Black Coral.
• Emerald Technology Ventures: Global cleantech venture investor with a portfolio spanning water, energy, and materials. Directly comparable as a thesis-driven specialist that co-invests alongside other cleantech VCs and family offices similar to Black Coral's syndicate model.
• DBL Investors: Double-bottom-line venture firm investing in cleantech and sustainability startups. Comparable as a values-aligned specialist investor with similar sub-sector focus and stage profile.
• XPV Capital: Water-focused growth equity firm that led the newterra round with Black Coral as a syndicate participant. Directly comparable as a specialist cleantech growth investor with overlapping portfolio and co-investor relationships.
• Angeleno Group: Early-stage and growth cleantech investor that co-invested alongside Black Coral in the newterra growth equity round. Directly comparable as a thesis-driven cleantech venture and growth-equity firm serving similar management teams in similar sub-sectors.
• Clean Energy Ventures: Seed and early-stage cleantech venture firm focused on breakthrough energy technologies. Comparable as a sector-specialist early-stage investor with similar North American deal-sourcing focus and sub-sector overlap.

Broad incumbents

• Energy Impact Partners (EIP): Large cleantech and energy-transition venture and growth firm with utility LPs and a broad portfolio spanning grid, storage, buildings, and mobility. Comparable in sub-sector coverage but materially larger scale and a more institutionalized LP base.
• RobecoSAM: Large sustainable-investing asset manager with a cleantech venture arm that participated in newterra alongside Black Coral. Comparable as a sustainability-themed institutional investor in cleantech, though operating at much larger scale and broader mandate.
• VantagePoint Capital Partners: Large-scale cleantech venture and growth investor active across solar, energy storage, and transportation. Comparable as a sector specialist with similar sub-sector exposure to Black Coral's portfolio, but with significantly greater AUM and broader stage coverage.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/business-solutions-group---recruitment-outsourcing-and-business-support

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

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

M&A

Investments17 records

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

Frequently asked questions about Black Coral Capital