Ecosystem Integrity Fund
Venture fund investing in environmental solutions across energy, food systems, and sustainable products.
EIF just closed their fifth fund at $250 million, bringing total AUM to over $425 million - so they're legit and growing. Devin Whatley says he's "compelled by founders who are obsessed" - not just working all the time, but constantly thinking about solving problems. They want "a very well-communicated description of a market problem that you are uniquely set up to solve" and you must be solving a sustainability problem at the same time. Their portfolio has seen 1 IPO and 8 acquisitions including exits like Enel X, EV Connect and Complete Solar - decent track record for returns. Unlike flashier climate VCs chasing moonshots, these guys actually avoid technology risk and focus on capital-efficient models that can scale without breaking the bank.
- —Best for: Post-revenue climate tech companies with proven business models seeking Series A/B capital
- —Watch out for: They avoid high tech risk - if you're pre-product or need R&D breakthroughs, look elsewhere
- —Known for: 15+ year track record with actual exits and hands-on support from partners with operating experience
EIF seeks to demonstrate that there is no trade-off between having positive impact and achieving outstanding financial returns by investing in companies solving real problems. They believe the integration of economic and environmental sustainability is a long-term, durable shift driven by economics - the next phase of the Industrial Revolution happening now.
Primarily invests in Series A round in United States based startups with an average round size of $13.1M for Series A and $20.6M for Series B. Invests across multiple sectors including renewable energy, transportation, agriculture and food, climate resilience, green chemistry, waste reduction, and efficiency. Seeks capital-efficient business models and avoids significant technology risk, with the goal to have the greatest possible impact with the least possible amount of capital.
Managing Partner who authored the fund strategy and serves as chairman of the Investment Committee, with over 35 years focused on environmental sustainability. Before co-founding EIF, he was a partner at Aquillian Investments and worked in conservation finance and development projects.
Co-leads deal structuring, negotiations, and fund operations. Has an MBA from Wharton and is a CFA Charterholder with background as a sustainability-focused entrepreneur. Started in the film business producing commercials and music videos before transitioning to green business and launching a gourmet, organic food delivery business in 2000.
Has been with EIF since inception and leads fundraising and investor relations. Focuses on Transportation, Renewable Energy, Grid Modernization, and Green Chemistry. Previously worked as a Senior Consulting Associate at Cambridge Associates, a global institutional investment consulting firm.
Senior Partner whose responsibilities include investment due diligence, strategy development, process management, deal sourcing, and portfolio company support. Has appeared on panels discussing how transformations in sustainability can be aided and what the shift means for investors.
Have a specific question about Ecosystem Integrity Fund?
Ask Bernie →