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§ Venture Capital · Los Angeles, CA, USA
Venture capital and early growth equity firm investing in operational AI, IoT, and cybersecurity for energy, infrastructure, and climate.
Based in Jackson, Wyoming, Blue Bear Capital is a venture capital and early growth equity firm that invests in digital technologies such as artificial intelligence, the Internet of Things, and cybersecurity for the energy, infrastructure, and climate sectors. The firm typically leads Seed through Series B funding rounds, writing initial checks of $5 million and reserving up to $10 million for follow-on investments. Blue Bear Capital recently closed its third flagship fund at $200 million in 2024, following an oversubscribed $150 million second fund in 2021, and targets approximately 15 investments per vehicle. The firm raises capital from limited partners including the McKnight Foundation, the Rockefeller Brothers Fund, and UBS to back enterprise technology startups like Raptor Maps and Shoreline. Blue Bear Capital was founded in 2016 by Ernst Sack, Rob MacInnis, and Hank Hattemer.
Key people at Blue Bear Capital.
Blue Bear Capital has more than 26 tracked investments across 26 companies. The latest tracked deal is $60.0M Series B in Hydrosat in January 2026.
Key people at Blue Bear Capital.
Blue Bear Capital is a venture capital and early growth equity firm specializing in AI-powered technologies that address critical challenges in energy, infrastructure, and climate sectors. Its mission is to drive sustainability and transformation across global industries by investing in entrepreneurs building digital solutions for sustainable energy production, grid modernization, logistics, manufacturing, and climate resilience such as wildfire protection and water management. The firm supports portfolio companies with capital, customer connections, talent sourcing, and market access, leveraging deep industry expertise and networks to accelerate innovation and growth[1][2][4].
Founded in 2016, Blue Bear Capital was established by partners with extensive backgrounds in energy private equity, industrial technology, and startups. Key partners include Dr. Carolin Funk, Ernst Theodor Sack, Dr. Rob MacInnis (CTO), and Hank Hattemer (COO and General Counsel). The firm has evolved to focus on operational AI and machine intelligence applied to multibillion-dollar verticals in energy and climate industries. It typically leads Seed through Series B rounds and has closed three funds, including a $160 million Fund III in 2024, emphasizing companies with commercial ramp-up and operational AI applications[4][6].
Blue Bear Capital rides the growing trend of applying AI and machine intelligence to transform traditional energy and industrial sectors, which are undergoing rapid digitalization and sustainability-driven disruption. The timing is critical as global markets demand cleaner energy, smarter infrastructure, and climate resilience solutions. Market forces such as regulatory pressure, climate risk, and technological advances in AI and IoT favor Blue Bear’s investment focus. The firm influences the ecosystem by bridging traditional energy sectors with emerging digital technologies, fostering innovation that supports the global transition to a sustainable and resilient economy[1][2][4].
Looking ahead, Blue Bear Capital is positioned to expand its influence by continuing to fund and scale AI-powered startups that address urgent climate and infrastructure challenges. Trends such as decarbonization, grid modernization, and climate risk management will shape its investment journey. The firm’s deep industry networks and operational expertise will likely enhance its role as a key enabler of the energy transition, helping portfolio companies achieve commercial success and systemic impact. As AI technologies mature, Blue Bear’s focus on operational AI in critical industries will remain a vital catalyst for sustainable innovation[4][6].
