Carnelian

VC firm · Houston, TX

Verified active in the last 12 monthsSEC-registered adviser

Venture firm based in Houston, TX. Most recent fund on file: Carnelian Energy Capital V, L.P. ($975M offering), filed Jan 2024. 2 deal vehicles (SPVs) filed with the SEC since Jun 2023. Partners sit on the boards of 1 startup that raised recently.

“Focused investing in the North American upstream, midstream and oilfield services sectors.” (from the firm’s website)

Stages: Series A to Growth
Typical check (est.): $9.75M–$29.3M
Latest fund: Undisclosed · Oct 2025
Last verified activity: Aug 2026

Focus

Climate & Energy

Recent portfolio activity

Datavault AI
Board seat · PA
Feb 2023

Funds and vehicles on SEC file

Carnelian Verde Co-Invest, L.P.
Deal vehicle
Aug 2026
Carnelian Acquisition & Development, L.P.
Fund
Oct 2025
Carnelian Energy Capital V, L.P.
Fund · $975M offering
Jan 2024
Carnelian Ridgemar Co-Invest, L.P.
Deal vehicle
Jun 2023

Sources

SEC Form D: Carnelian Verde Co-Invest, L.P.Aug 19, 2026
SEC Form D: Carnelian Acquisition & Development, L.P.Oct 7, 2025
SEC Form D: Carnelian Energy Capital V, L.P.Jan 30, 2024
SEC Form D: Carnelian Ridgemar Co-Invest, L.P.Jun 20, 2023
SEC adviser record: Carnelian Energy Capital Management, LPMar 31, 2026
Firm websiteOct 12, 2026

Profile last verified Oct 12, 2026. Is this you? Correct or remove this profile.