# Azimuth Capital Management

> Azimuth Capital Management is a VC fund backing Energy and Oil and Gas. See 10 investments, check sizes, portfolio and contact details. Updated Aug 2026.

- Type: VC Fund
- Location: Calgary, Canada
- Total investments: 10
- Last investment: Sep 2024
- Lead investor: 20%
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/azimuth-capital-management/
- Website: http://navigatingenergy.com/

Azimuth Capital Management is a venture capital and private equity firm specializing in seed/startup, mid venture, early stage, middle market, and emerging companies. It makes direct investments and co-investments. Azimuth Capital Management seeks to invest in the energy sector resource and infrastructure development companies with a focuson oil and gas exploration and production, oil sands, non-conventional resource plays, energy infrastructure, services and energy technology. It prefers to invest in companies based in Canada and also invests in the United States and international energy sector opportunities. Azimuth Capital Management makes investments between $7.58 million and $36.12 million. It makes investments for a period of more than ten years. Pentti O. Karkkainen, and D. Jeffrey van Steenbergen founded KERN Partners in 2000 that later became Azimuth Capital Management. It has its headquarters in Calgary in Canada with additional office in San Francisco Bay Area and Operating Partners in Houston and Denver.

## Contacts

5 contacts available for Azimuth Capital Management. Shizune tracks 8 team members at Azimuth Capital Management. Sign up free to unlock them: https://app.shizune.co/sign-up/investor-profiles/find-team-emails/kern-partners?utm_source=investor_profile

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Energy | 3 | 30% |
| Oil and Gas | 3 | 30% |
| Renewable Energy | 3 | 30% |
| Solar | 2 | 20% |
| CleanTech | 2 | 20% |

17 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Private Equity | 3 | 30% |
| Seed | 2 | 20% |
| Series A | 1 | 10% |
| Series B | 1 | 10% |
| Series D | 1 | 10% |

7 stages tracked in total.

### Country

| Country | Investments | Share |
| --- | --- | --- |
| Canada | 3 | 30% |
| United States | 3 | 30% |
| Italy | 1 | 10% |
| United Kingdom | 1 | 10% |

## Team

| Name | Title | Investments | Profile |
| --- | --- | --- | --- |
| Jeff van Steenbergen | General Partner | 1 | https://shizune.co/investors/profile/jeff-van-steenbergen |
| Cherry Ma | Senior Finance Analyst | 0 | https://shizune.co/investors/profile/cherry-ma |
| Jason Montemurro | Partner | 0 | https://shizune.co/investors/profile/jason-montemurro |
| Jim Nieuwenburg | General Partner | 0 | https://shizune.co/investors/profile/jim-nieuwenburg |
| Kim Lynch Proctor | CFO & General Counsel | 0 | https://shizune.co/investors/profile/kim-lynch-proctor |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Monolith | Monolith is the world’s leading clean hydrogen and clean materials company. The company’s proprietary commercial-scale methane pyroloysis process uses 100% renewable power to superheat-- not burn-- conventional and renewable natural gas to create clean hydrogen, ammonia, and carbon black in an environmentally advantaged manner. Founded in 2012 byRob Hanson and Pete Johnson, Monolith was formed on the belief that you could build both a profitable company and create a cleaner world using technology. |  | Private Equity | Sep 26, 2024 |  |
| H Cycle | H Cycle deploys proven waste gasification technology to produce low-cost, low-carbon hydrogen for industrial and retail customers. |  | Series A | Apr 24, 2023 |  |
| Monolith | Monolith is the world’s leading clean hydrogen and clean materials company. The company’s proprietary commercial-scale methane pyroloysis process uses 100% renewable power to superheat-- not burn-- conventional and renewable natural gas to create clean hydrogen, ammonia, and carbon black in an environmentally advantaged manner. Founded in 2012 byRob Hanson and Pete Johnson, Monolith was formed on the belief that you could build both a profitable company and create a cleaner world using technology. | $300M | Series D | Jul 14, 2022 |  |
| Enoflex | Enoflex is passionate about connecting the low carbon world of tomorrow. |  | Seed | Jan 01, 2022 |  |
| PunchLab | PunchLab is a Mobile App that will turn your punching bag into a device able to detect, measure, and react to your strikes. No additional device other than your smartphone is needed. It uses the existing technology in your phone to give you real-time feedback on your bag workout and offers training routines pre-programmed by world-level athletes. | $994.4K | Seed | Jul 04, 2021 |  |
| Whitecap Resources | Whitecap is an oil-weighted growth company that pays a monthly cash dividend to its shareholders while being recognized for storing more CO2. The company also focused on sustainable long-term growth and shareholder return. Their premium asset base allows them to pair sustainable long-term growth with a disciplined risk management strategy.Whitecap Resources was established in 2009 and is headquartered in Calgary, Alberta. |  | Private Equity | Jan 01, 2021 |  |
| Recover Energy Services | Recover Energy Services is an eco-tech firm that offers cost-effective and eco-friendly disposal method for oil-based drill cuttings. |  | Venture - Series Unknown | Jun 17, 2020 |  |
| Seven Generations Energy | Seven Generations Energy Ltd. explores and develops oil and gas resources. The company focuses on developing non-conventional resource plays in Canada and the United States. Seven Generations Energy Ltd. was founded in 2008 and is based in Calgary, Canada. | $251M | Private Equity | Dec 18, 2013 |  |
| Ausra | Ausra manufactures and develops utility-scale solar technologies to serve global electricity needs in a market competitive and environmentally responsible manner.Ausra's solar concentrators boil water with focused sunlight, generating high-pressure steam that drives conventional turbine generators. Low-cost thermal energy storage systemsnow under development by Ausra will allow solar electric power to be generated on demand, both during the day and at night. | $25.5M |  | Apr 22, 2009 |  |
| Ausra | Ausra manufactures and develops utility-scale solar technologies to serve global electricity needs in a market competitive and environmentally responsible manner.Ausra's solar concentrators boil water with focused sunlight, generating high-pressure steam that drives conventional turbine generators. Low-cost thermal energy storage systemsnow under development by Ausra will allow solar electric power to be generated on demand, both during the day and at night. | $24.5M | Series B | Aug 08, 2008 |  |

10 of 10 investments shown.

## Co-investors
- [TPG Rise Climate Fund](https://shizune.co/investors/profile/tpg-rise) — VC Fund, 4 deals together
- [Decarbonization Partners](https://shizune.co/investors/profile/decarbonization-partners) — VC Fund, 2 deals together
- [Khosla Ventures](https://shizune.co/investors/profile/khosla-ventures) — VC Fund, 2 deals together
- [Kleiner Perkins](https://shizune.co/investors/profile/kleiner-perkins-caufield-byers) — VC Fund, 2 deals together
- [Primo Capital](https://shizune.co/investors/profile/barcamper-ventures) — VC Fund, 1 deal together
- [CIBC Capital Partners](https://shizune.co/investors/profile/cibc-capital-partners) — VC Fund, 1 deal together

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## FAQ

### What does Azimuth Capital Management invest in?

Azimuth Capital Management invests primarily in Energy, Oil and Gas and Renewable Energy startups, most often at Private Equity and Seed stage. Most of the 10 investments tracked by Shizune back companies in Canada. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### How do I contact Azimuth Capital Management?

Public channels for Azimuth Capital Management include LinkedIn and 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 Azimuth Capital Management?

The team at Azimuth Capital Management includes Jeff van Steenbergen (General Partner), Cherry Ma (Senior Finance Analyst) and Jason Montemurro (Partner), among 8 team members tracked by Shizune. 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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