DBL Partners is a venture capital firm based in San Francisco, established in 2002 as an impact-focused spin-out from J.P. Morgan’s Bay Area Equity Fund. The firm introduced a double bottom line approach, aiming for strong financial returns alongside measurable social, environmental, and economic benefits. Led by managing partners Nancy Pfund, Ira Ehrenpreis, and Cynthia Ringo, DBL takes the view that financial performance and positive societal change are interconnected. Its portfolio spans early- to expansion-stage companies that demonstrate the potential for scalable growth and meaningful contributions across multiple sectors.
DBL Partners concentrates on companies in clean energy, sustainable products and services, healthcare, and information technology, investing primarily at early and growth stages. In 2021, the firm closed its fourth impact fund, raising $600 million to back ventures in agriculture and food systems, health and safety, economic opportunity, transportation and mobility, nature-based solutions, and the intersection of space and Earth data. Emphasis on diversity drives capital toward women-led and BIPOC-founded businesses, while active portfolio management ensures support in strategy, operations, and scaling.
An area of particular focus for DBL Partners is clean technology and battery innovations. The firm’s early backing of companies such as Tesla and SolarCity illustrates its interest in electric vehicles and solar energy solutions, and Nancy Pfund’s board roles underscore hands-on engagement. Investments in PowerGenix highlight support for recyclable nickel-zinc battery chemistry suited to micro-hybrid vehicles and grid storage. Portfolio companies like NEXTracker and ZOLA Electric advance off-grid solar and energy storage in underserved regions, while ventures such as Planet use satellite data to inform environmental decision-making. Through these efforts, DBL champions technologies that aim to reduce emissions and strengthen renewable energy systems.
