# Jason Cheng

> Jason Cheng is a private equity investor at Kerogen Capital backing Energy Efficiency and SaaS. See 4 investments, check sizes, portfolio. Updated Aug 2026.

- Type: Angel Investor
- Fund: [Kerogen Capital](https://shizune.co/investors/profile/kerogen-capital-2)
- Total investments: 4
- Last investment: Mar 2023
- Lead investor: 75%
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/in/jason-cheng-50215275

Jason Cheng is a private equity investor at Kerogen Capital focused on Energy Efficiency and SaaS. Jason Cheng is the Managing Partner and Co-Founder of Kerogen. He serves on the Investment Committee and is responsible for the daily operations of the firm. He is also actively involved in the development of investment strategy, portfolio construction and risk management, as well as sourcing and managing investments. Jason has over 20 years’commercial experience across investing, operations and investment banking, including as the Managing Partner of Ancora Capital and energy and natural resources investment banking experience at J.P. Morgan and Schroders.Jason holds a masters degree from the University of Sydney and a bachelors degree from the University of Melbourne. Jason serves as a board member of Buried Hill, HKN, Pandion and Zennor, and an alternate board member of Hurricane.

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Energy Efficiency | 2 | 50% |
| SaaS | 1 | 25% |
| Energy | 1 | 25% |
| Chemical | 1 | 25% |
| Analytics | 1 | 25% |

10 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Private Equity | 2 | 50% |
| Series A | 1 | 25% |
| Series B | 1 | 25% |

### Country

| Country | Investments | Share |
| --- | --- | --- |
| Hong Kong | 1 | 25% |
| United States | 1 | 25% |
| United Kingdom | 1 | 25% |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Geothermal Engineering | Geothermal Engineering Limited is a world-leading company working on the development of deep geothermal heat and power projects. | $17.8M | Private Equity | Mar 08, 2023 |  |
| Enervee | Enervee is a cleantech company offering a scalable B2B platform that empowers utilities and governments to influence consumer energy use at the point of purchase. By combining behavioral science, real-time product data, and embedded Eco Financing, Enervee drives measurable energy savings, customer engagement, and decarbonization. The companypartners with major utilities across the U.S., delivering white-labeled marketplaces and integrated tools that help meet regulatory and ESG goals, while generating revenue through SaaS licensing, implementation services, and transaction-based fees. | $35M | Series B | Apr 22, 2022 |  |
| EcoCeres | EcoCeres is an innovative biomass utilization company with strong R&D capability and excellent ESG performance. EcoCeres focuses on the utilization of bio-grease and agricultural waste. EcoCeres creates decarbonization solutions to help the world achieve carbon neutrality. | $108M | Private Equity | Feb 24, 2022 |  |
| EcoCeres | EcoCeres is an innovative biomass utilization company with strong R&D capability and excellent ESG performance. EcoCeres focuses on the utilization of bio-grease and agricultural waste. EcoCeres creates decarbonization solutions to help the world achieve carbon neutrality. | $108M | Series A | Feb 24, 2022 |  |

4 of 4 investments shown.

## Co-investors
- [Bain Capital Private Equity](https://shizune.co/investors/profile/bain-capital-private-equity) — VC Fund, 2 deals together
- [JP Morgan](https://shizune.co/investors/profile/jp-morgan-chase) — VC Fund, 1 deal together
- [Thrive Renewables](https://shizune.co/investors/profile/thrive-renewables) — VC Fund, 1 deal together

## About Kerogen Capital

VC Fund · Central, Hong Kong

Kerogen Capital is an independent private equity fund manager specialising in the international oil and gas sector.

1 contacts available at Kerogen Capital.

| Name | Title | Profile |
| --- | --- | --- |
| Jason Cheng | Co-Founder and Managing Partner | https://shizune.co/investors/profile/jason-cheng-3 |

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## FAQ

### What does Jason Cheng invest in?

Jason Cheng invests primarily in Energy Efficiency, SaaS and Energy startups, most often at Private Equity and Series A stage. Most of the 4 investments tracked by Shizune back companies in Hong Kong. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### When did Jason Cheng last invest?

The most recent investment recorded for Jason Cheng closed in Mar 2023. Shizune tracks 4 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### 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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