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Alternative Assets  + Real Assets  + VC  |  March 25, 2024
Altira Closes Energy-Focused Tech Fund
Joe Palmisano
By: Joe Palmisano

Altira Closes Energy-Focused Tech Fund

Altira Group, a Denver-based energy focused venture capital firm, closed its growth-stage Altira Technology Fund VII.

Fund VII received support from seven oil & gas companies alongside institutional investors. With the closing of the new vehicle, the firm has expanded its commitment to energy transformation within oil & gas and other industrial sectors.

“Together, instead of transitioning away from oil & gas, we’ll not only empower the next generation of innovators to responsibly transform how we explore, produce, and manage energy resources, but we’ll export technologies born in oil & gas to other sectors,” said Dirk McDermott, Altira founder and managing partner.

The firm’s predecessor fund invested in data analytics firm Seeq, energy storage technology & service company FlexGen, and AI-enabled contract analytics technology firm ThoughtTrace, among others.

Led by McDermott and Sean Ebert, senior partner, Altira has funded advanced technology solutions across the energy value-chain for the last 25 years.

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About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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