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Year Founded: 1996

AUM: $122.4B | Dry Powder: $14.1M

205 Detroit Street Suite 200 Denver, CO 80206, US
Altira Group is a Denver, Colorado-based venture capital firm that works closely with entrepreneurs to provide funding for emerging oil and gas technology firms. The firm focuses on the software, equipment and technology-advantaged service firms

Key Contacts

  • Dirk McDermott
    Founder & Managing Partner
  • J.P. Bauman
  • Sean Ebert

Investment Preferences

  • Preferred Industries
    Alternative Energy Equipment, Chemicals and Gases, Information Technology, Oil and Gas Equipment
  • Geographical Preference
    Americas, Canada, US
  • Preferred Deal Types
    Early-Stage VC, Later Stage VC, PE Growth/Expansion, Seed Round
  • Other Investment Preferences
    • Prefers minority stake
    • Will lead on a deal
    • Will syndicate

Investments By Year

Source: Pitchbook

Funds Closed

Altira Technology VI Overflow Fund
Vintage: 2022

Size: N/A

Dry Powder: N/A 

Details: The fund targets the information technology sector

Altira Technology Fund VI
Vintage: 2014

Size: $122.4M

Dry Powder: $6.1M

Details: The fund targets oil and gas technology, IT, and energy sectors in the US

Altira Technology Fund V
Vintage: 2007

Size: $175.8M

Dry Powder: $4.4M

Details: The fund invests in oil and gas technology and services companies in the US

Investments By Industry

Investments By Region

Source: Pitchbook

Key Investments

In July 2022, FlexGen Power Systems raised $100 million of Series C venture funding in a deal led by Vitol. Altira Group and other undisclosed investors also participated in the round. FlexGen is a software technology provider and system integrator that delivers utility-scale energy storage projects integrated with traditional and renewable power generation

In August 2021, Phillips 66 invested in Seeq, an advanced analytics software developer, through Altira Group, that counts Seeq as one of its portfolio companies. Phillips 66 is a diversified energy manufacturing and logistics company with a portfolio of midstream, chemicals, refining, and marketing & specialties businesses

In August 2021, FlexGen Power Systems, a developer of energy storage technology and software, received $150 million of development capital from Altira Group, Apollo Global Management

In January 2020, Seeq Corporation, a manufacturing and Industrial Internet of Things (IIoT) advanced analytics software company, secured $24 million expansion of its Series B funding. This expansion round was led by Saudi Aramco Energy Ventures (SAEV), the corporate venture subsidiary of Saudi Aramco with the other investors such as: Altira Group, Chevron Technology Ventures, Second Avenue Partners, etc.

In 2018, Altira Group invested in ResFrac. ResFrac Corporation makes hydraulic fracturing and reservoir simulation software for the exploration and production industry

In 2017, Altira Group led a $23 million Series B funding round for Seeq Corporation. Other investors include Chevron Technology Ventures, next47, Second Avenue Partners, etc. Seeq offers advanced data analytics software for process industries that enables better decision making across the enterprise

In August 2015, Altira Group led a $25.5 million Series A financing round for FlexGen® Power Systems. FlexGen is an integrated energy storage technology platform company. Through its proprietary software and high-efficiency power electronics, FlexGen’s Energy Storage Systems (ESS’s) enable the economic integration (hybridization) of energy storage with power generation assets

In October 2012, Infrastructure Networks raised a new round of funding from Altira Group. Infrastructure Networks based out of Houston, Texas provides broadband wireless networks to oil and gas and other critical infrastructure industries

Other Details

Altira makes $5-$25 million investments in advantaged oil and gas technology and services companies. The firm typically invests in venture/growth-equity-stage companies. So far, Altira has raised six funds and invested more than $1 billion with partners in over 50 portfolio companies. The Altira team has over 60 years of combined experience investing in and building successful energy technology businesses

Currently the firm has two open funds. The latest Altira Technology Fund VII has a target size of $200 million and the Altira Technology VI Overflow Fund has a target size of $8.75 million

Apollo Global Management, Chevron Technology Ventures, Aramco Ventures, Cisco Investments, Gaylord Kellogg, Insight Partners, John Meisenbach, McRock Capital, Vitol, William Heston are some of the co-investors who invest alongside Altira Group

Source: Pitchbook, Company Website, Press Release