– Lime Rock New Energy (LRNE) successfully closed Lime Rock New Energy Fund II at $640M
– Fund exceeded $500M target and approached $650M hard cap
– Fund size is double that of Fund I
– Strong investor demand reflects confidence in LRNE’s differentiated energy transition strategy
– Focus on high-growth companies benefiting from decarbonization and energy security trends
– High re-up rate with ~90% of Fund I institutional LPs reinvesting
– Investor base includes institutional asset managers, university endowments, and climate-focused family offices
– Expanded global reach with ~1/3 of commitments from European and Asian investors
– Mark Lewis, Managing Director, said Fund II’s size reflects LP confidence in the team, disciplined strategy, and energy transition opportunities
– Blair Barlow, Managing Director, said strong re-up rate shows trust in identifying and scaling high-quality growth companies
– Mark McCall, Managing Director, said the firm backs companies driving the energy transition while delivering financial and climate impact
– Fund II will continue investing in energy transition companies with strong growth, financial performance, and environmental impact potential
