# Carnelian Energy Capital Management

> Carnelian Energy Capital Management is a VC fund backing Oil and Gas. See 17 investments, check sizes, portfolio and contact details. Updated Aug 2026.

- Type: VC Fund
- Location: Houston, United States
- Total investments: 17
- Last investment: Jul 2026
- Lead investor: 71%
- Fund size: $775M
- Last fund: Jul 2019
- Last updated: Aug 2026
- Website: http://carnelianenergy.com/

Carnelian Energy Capital Management is a VC fund in Houston focused on Oil and Gas and Energy. Carnelian is a private equity firm based in Houston, Texas. Carnelian focuses on lower and middle market energy investments requiring between $35 million and $75 million of equity capital in the North American upstream, midstream and oilfield services sectors.

## Contacts

5 contacts available for Carnelian Energy Capital Management. Shizune tracks 3 team members at Carnelian Energy Capital Management. Sign up free to unlock them: https://app.shizune.co/sign-up/investor-profiles/find-team-emails/carnelian-energy-capital-management?utm_source=investor_profile

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Oil and Gas | 11 | 65% |
| Energy | 9 | 53% |
| Mining | 5 | 29% |
| Natural Resources | 3 | 18% |
| Renewable Energy | 2 | 12% |

16 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Private Equity | 11 | 65% |
| Funding Round | 2 | 12% |
| Venture - Series Unknown | 2 | 12% |
| Post-IPO Equity | 1 | 6% |

### Country

| Country | Investments | Share |
| --- | --- | --- |
| United States | 14 | 82% |
| Canada | 2 | 12% |

## Team

| Name | Title | Investments | Profile |
| --- | --- | --- | --- |
| Jeffrey Gilbert | COO | 0 | — |
| Tomas Ackerman | Co-Founder and Partner | 1 | — |
| Kevin Goodman | Managing Director | 1 | — |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Verde Operating Company | Verde Operating Company is an independent oil and gas company. The company buys and runs oil and gas fields. |  | Venture - Series Unknown | Jul 24, 2026 |  |
| Zavanna | Zavanna is an oil and gas exploration and production company. |  | Private Equity | Sep 24, 2024 |  |
| Parallax Energy | Parallax Energy is an exploration and production company that offers acquiring, developing, and operating assets. |  | Private Equity | Jan 09, 2024 |  |
| Blue Ox Resources | Blue Ox is a Dallas-based oil and gas business that is largely focused on acquisition and development in the Delaware Basin. |  | Private Equity | Jan 19, 2022 |  |
| Li-Cycle | Li-Cycle is a clean technology company with revolutionary technology for resource recovery of end-of-life lithium-ion batteries. Li-Cycle Technology™ is a closed loop, economically viable, safe and sustainable process that can recover 80 – 100% of all materials in lithium-ion batteries.Li-Cycle is on a mission to provide sustainable and safecustomer-centric solutions for end-of-lifecycle lithium-ion batteries while meeting the rapidly growing demand for critical batteries. | $315M | Post-IPO Equity | Aug 11, 2021 |  |
| VoltaGrid | VoltaGrid is ushering in a new era of power generation and permanently changing the landscape of mobile power. It was founded in 2020 and is based in Bellaire, Texas. | $72.6M | Venture - Series Unknown | Feb 02, 2021 |  |
| VoltaGrid | VoltaGrid is ushering in a new era of power generation and permanently changing the landscape of mobile power. It was founded in 2020 and is based in Bellaire, Texas. | $72.6M | Venture - Series Unknown | Feb 02, 2021 |  |
| Bison Oil & Gas | Bison Oil & Gas is an exploration and production company that seeks to expand its position via leasing, acquisition, and joint venture. It was founded in 2015 and is headquartered in Denver, Colorado, United States. |  |  | Dec 15, 2020 |  |
| Hawthorne Energy | Hawthorne Energy is a privately held oil and natural gas exploration and production company that focuses on the acquisition of assets. The company was founded in 2020 and is headquartered in Stamford, Connecticut. |  | Private Equity | Jun 30, 2020 |  |
| Selenite Energy Partners | Selenite Energy Partners is formed to pursue middle-market special situations and structured transactions. The company was founded in 2019 and is headquartered in Oklahoma City, Oklahoma, United States. |  | Private Equity | Sep 30, 2019 |  |

10 of 17 investments shown.

## Co-investors
- [CPP Investments](https://shizune.co/investors/profile/canada-pension-plan-investment-board) — VC Fund, 2 deals together
- Longbow Capital — VC Fund, 2 deals together
- Pilot Flying — VC Fund, 2 deals together
- Chartwell Investments — VC Fund, 1 deal together
- [EnCap Investments](https://shizune.co/investors/profile/encap-investments) — VC Fund, 1 deal together
- Formentera Partners — VC Fund, 1 deal together

## Similar investors

### Similar stage
- [Foresight Group](https://shizune.co/investors/profile/foresight-group) — VC Fund
- [YFM Equity Partners](https://shizune.co/investors/profile/yfm-equity-partners) — VC Fund
- [Fondaction](https://shizune.co/investors/profile/fondaction) — VC Fund

## FAQ

### What does Carnelian Energy Capital Management invest in?

Carnelian Energy Capital Management invests primarily in Oil and Gas, Energy and Mining startups, most often at Private Equity and Funding Round stage. Most of the 17 investments tracked by Shizune back companies in United States. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### How do I contact Carnelian Energy Capital Management?

Public channels for Carnelian Energy Capital Management include the website linked on this profile. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.

### Who are the partners at Carnelian Energy Capital Management?

The team at Carnelian Energy Capital Management includes Jeffrey Gilbert (COO), Tomas Ackerman (Co-Founder and Partner) and Kevin Goodman (Managing Director). The Team section lists each member with their title, investment count and links.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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