Eric Rubenstein from New Climate Ventures

Eric Rubenstein, managing partner at New Climate Ventures, joins Jason and Nada live from Ceraweek to make the case that what we're calling an energy transition is actually a new industrial revolution. He breaks down why data centers are only the fifth biggest driver of power demand, how his 35-company portfolio is shifting toward localized production and supply chain resilience, and what founders absolutely need to nail before walking up to an investor at a conference.

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Click here to view the episode transcript.

00:00 - Intro and Ceraweek impressions

07:11 - What is actually driving power demand growth

13:41 - The all-of-the-above energy reality

19:12 - NCV fund thesis and origin

22:28 - Portfolio breakdown and data center exposure

25:07 - Upcycling waste into value

28:30 - How the portfolio informs investment strategy

34:19 - Is venture capital broken for hard tech?

37:01 - The missing middle and how startups are bridging it

40:11 - Industrial customers funding their own first commercial plants

45:38 - Raising fund two and what LPs want

48:45 - How NCV communicates with investors

56:37 - What founders should know before approaching investors

01:01:09 - Talking valuation with investors

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