National Grid’s New Venture Capital Arm: ‘We Want to Disrupt Ourselves’
Summary
National Grid Partners (NGP) officially opened its doors last week and announced five new funding recipients: AutoGrid, ClimaCell, Leap, Omnidian and Sitetracker. “As the only global utility-backed VC and innovation firm in Silicon Valley, National Grid Partners is different than other utilities, VCs and CVCs (corporate venture capital groups),” Lisa Lambert, chief technology and innovation officer of National Grid and senior vice president of NGP, wrote in an email. Lambert touted the expertise of NGP’s team and the group’s deep experience and network across the U.S. and the U.K. — National Grid’s principal markets. “National Grid Partners provides its portfolio with financial support as well as strategic investment — in some cases we incorporate them into our business operations,” said Lambert. NGP’s investment in AutoGrid, for instance, strengthens National Grid’s existing relationship with the company, and provides a number of strategic benefits for a growing startup.
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