National Grid Partners
UnclaimedAt a Glance
- Stage
- Series A, Series B+
- Sectors
- Climate, AI, Cybersecurity +1
- Founded
- 2018
- HQ
- Silicon Valley, CA
About National Grid Partners
National Grid Partners (NGP) is the venture capital and corporate innovation arm of National Grid, the UK and US electricity and gas utility that NGP describes as one of the world's largest investor-owned energy companies. NGP was founded in 2018 and is headquartered in Silicon Valley, with offices in Boston, London and New York. It has called itself the utility industry's only corporate venture investor in Silicon Valley, and BloombergNEF has named it the most active utility investor.
NGP invests in emerging technology companies at the intersection of IT and energy. Its portfolio spans grid modernization, utility operations software, AI and data analytics, battery and energy storage, and cybersecurity for critical infrastructure, with holdings such as AiDASH, Amperon, LineVision, Sitetracker, TS Conductor, Tomorrow.io and Uniphore. It also commits capital to specialty venture funds, and its portfolio page lists Energy Impact Partners, Jerusalem Venture Partners and IQ Capital alongside direct investments. As of September 2026 NGP reported $600 million invested since launch.
The distinctive element is integration with the parent. NGP pairs venture investment with business development counsel and direct integration with National Grid's innovation teams, and it says nearly 80 percent of portfolio companies have worked with National Grid. It also convenes the NextGrid Alliance, a group of more than 150 global utilities, which gives portfolio companies a route to other utility buyers. Exits listed on its site include Dragos (Accenture), RiskIQ (Microsoft), Aporeto (Palo Alto Networks), AiDASH and Autogrid (Schneider Electric), Urbint (Itron), Audio Analytic (Meta), Pixeom (Siemens), EdCast (Cornerstone) and the October 2021 IPO of Copperleaf.
Investment Thesis
“NGP says it invests in innovators with the tenacity, ingenuity and creativity to make a difference, with a focus on making the power grid safer, cleaner and smarter. It has organized its investing around four pillars: electric networks of the future, customer engagement, operational efficiency and decarbonization. The firm positions itself as a bridge between entrepreneurs and utilities, solving present operational challenges while building tomorrow's energy systems. In 2026 its public commentary has centered on AI, with Interim President Pradeep Tagare arguing that the growth of AI data centers creates operational and financial pressure for utilities while AI can also be a significant part of the solution.”
Sector Focus
Investment Stage
Notable Portfolio Companies
Key Team (3)
Pradeep Tagare
Interim President
Brett Chandler
Vice President
Gerard Kelly
Vice President
Fund History
NGP launched in 2018 with an initial $250 million commitment from National Grid, followed by a second $150 million commitment in 2021, according to Global Venturing's February 2024 report, which also counted about 40 portfolio companies and seven exits. An NVCA member spotlight later cited more than $450 million deployed across 46 companies and four specialty VC funds. NGP's September 2026 boilerplate states $600 million invested since launch, and its site says it has invested in more than 50 companies since 2018. Capital comes from the parent's balance sheet rather than outside limited partners.
Frequently Asked Questions
What stage does National Grid Partners invest at?
National Grid Partners primarily invests at the Series A, Series B+ stages. This means they focus on companies that are scaling their go-to-market after proving product-market fit.
Where is National Grid Partners located?
National Grid Partners is headquartered in Silicon Valley, CA. Many of their portfolio companies are also based in this region, though they invest across geographies.
What sectors does National Grid Partners focus on?
National Grid Partners focuses on investments in Climate, AI, Cybersecurity, Enterprise. Their portfolio reflects deep expertise and networks within these sectors.
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