National Grid unveils $250M corporate venture capital arm [TechCrunch Blog]
National Grid Transco, PLC National Grid PLC (NEW) American Depositary Shares (NGG)
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Source: TechCrunch Blog
National Grid, the Northeast’s natural gas and electricity company, is planting a flag in Silicon Valley with the launch of National Grid Partners. Led by former Intel Capital vice president and managing director Lisa Lambert, NGP has $250 million to invest in growth-stage technology startups over the next two to three years. Based in Las Gatos, NGP plans to fund 10 to 15 startups per year. “We want to disrupt ourselves before we are disrupted,” Lambert told TechCrunch. “That’s the only way to protect yourself in a world where really nobody is safe.” Deal size will vary, according to Lambert. NGP plans to back cleantech companies across sectors such as artificial intelligence, smart assets, enterprise SaaS, security and blockchain. The purpose of the in-house venture fund is to bring a much-needed infusion of innovation into the utility industry. “You can’t be satisfied with the status quo,” Lambert added. “If the telecom sector could do it all over
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Sec Filings
- 4/10/24 - Form 6-K
- 3/28/24 - Form 6-K
- 3/11/24 - Form 6-K
- NGG's page on the SEC website