Veriten Announces $105 Million Initial Close of Fund II to Accelerate Scalable Technology Solutions in Energy, Power and Industrial Applications

Houston, Texas - Veriten, a research, strategy and investment firm, today announced the initial close of its second flagship energy venture fund with over $105 million in capital commitments. Veriten develops an unbiased, long-term global outlook for energy, power, and technology and invests in companies addressing critical industry challenges and opportunities.

Fund II aims to capitalize on the success of the firm's initial fund to accelerate scalable technology solutions for energy, power and industrial applications. "We are super excited about Fund II and fortunate to have such great partners and supporters. Our unique platform and team can deliver differentiated investment opportunities and value-added expertise in this exciting but rapidly changing and complex world. When it comes to making capital allocation decisions and investments, we aspire to be the global partner and platform of choice" said Veriten CEO and founder Maynard Holt.

Veriten's investments are central to the mission of identifying and scaling reliable, sustainable, and economic solutions that address operating challenges or capitalize on growth opportunities. Fund II will focus on investments that create broadly applicable solutions, which are aligned with our view of the future energy world, and have logical, multifaceted exit opportunities. Just as importantly, investments are centered on themes where Veriten and its network of leading energy, power and technology companies can provide meaningful strategic input and value.

Veriten's overall strategy is critically supported by over 50 key strategic partnerships across the energy, power, industrial and technology complex, including upstream, midstream, downstream, chemical, oilfield and industrial services, water, nuclear, coal, fuel cell, trading, power generation, utility, hyperscaler, and other companies and organizations.

The announcement of Fund II drew support from leaders around the energy industry.

"Veriten continues to build a differentiated platform at the intersection of energy, technology and industry expertise," said Jeff Miller, Chairman and CEO of Halliburton Company. "We were early believers in the team and their ability to identify practical solutions to real challenges across the energy value chain. As all industries increasingly adopt digital tools, automation and AI-enabled technologies to improve performance and execution, we are proud to partner with Veriten again to help accelerate high-impact solutions across the broader energy landscape."

Mark Lashier, Chairman and CEO of Phillips 66 Company, also offered his support: "Veriten brings a thoughtful, industry-informed perspective to the technologies and businesses shaping the future of energy. Their network, market insight and strategic approach help surface solutions that improve safety, reliability, efficiency and stewardship across the broader energy and industrial value chain. We are pleased to partner with Veriten as they connect innovative companies with the operational priorities of large-scale energy businesses."

Christian Exshaw, Senior Executive Vice President & Group Head, Capital Markets at CIBC, added "We are at a pivotal moment in the energy markets, with increased volatility and artificial intelligence driving significant structural transformation. At CIBC, our priority is to deliver solutions that support our clients' growth ambitions and help them manage risk against a quickly evolving backdrop. We greatly value the strategic, data-driven insights we gain from our investment in the Veriten Venture Funds."

John Sommers, Partner, Investments at Veriten, added "Our differentiated network, research-driven process, and first principles approach to investing are having an impact across multiple verticals including traditional energy, electrification, and industrial technology. Fund II builds on that platform. In this environment, the differentiator isn't capital - it's all about connectivity, deep sector expertise, and an economically-driven approach. As new technologies and approaches develop at breakneck speed, the need for more reliable, affordable energy and power continues to grow dramatically. The current backdrop accentuates the need for Veriten's solution."