SF-Based VC Piva Focuses to Invest in Industry 4.0

By StartUp City | Friday, December 13, 2019

The newly-formed venture capital firm called Piva announced the launch of its inaugural $250 million funds with the aim of leading in "a new era of industry and energy."

Fremont, CA: Among other traditional sectors, the energy industry is one of them which is slow in adopting technologies but is efficient enough to adopt it. The International Energy Agency reports say the total investment valued in the U.S. alone in the energy sectors stands a massive $350 billion in 2018. This shows how enormous the energy industry is.

Indirectly, it opens up a huge prospect for corporate and venture investors in the energy market. Grabbing the opportunity, a newly-formed venture capital firm called Piva announced the launch of its inaugural $250 million funds with the aim of leading in "a new era of industry and energy." This San-Francisco-based firm is looking to invest in rapidly growing companies across Asia, Europe, and North America.

Presently the fund's sole LP is the national oil company of Malaysia, Petroliam Nasional Berhad (PETRONAS), with $62.2 billion revenue. However, Piva claims that it operates autonomously from the energy giant PETRONAS, which separately formed a corporate fund in October named Petronas CVC.

"New types of technologies will solve the most critical industrial, material and energy problems we face today," Colombia-born GE Ventures alum, Ricardo Angel said. "We see a huge opportunity coming to fruition in the next five, 10 to 20 years." Angel is serving as Piva's CEO and managing partner. He's attached with a number of partners hailing from various companies in the industry, such as BP and Schlumberger.

Piva's initial plan is to invest in 15 to 20 companies out of the fresh fund with an opening investment ranging from $5 million to $10 million. Eventually, it is seeking to set out $20 million to $30 million into each company.

The main areas of interest of this new firm includes the outlook of the industry (Industry 4.0), such as innovative cyber-physical solutions; the prospect of energy, (including new energy source and distribution, generation, consumption, and demand); and the future of materials.

"This is about much more than just renewables," Angel said. "Yes, we need to continue to make them cheaper, more efficient, available, and economical. But in addition to that, we're looking to leverage technology and innovation to make existing operations operate more efficiently and cost-effectively, as well as greener and safer. We're also looking to increase new sources of energy."

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