# 21 Peaks Capital Management 21 Peaks Capital Management is an Asset Manager based in New York, United States. ## Overview - **Organization type:** Asset Manager - **Headquarters:** New York, United States - **Region:** North America - **Address:** New York, NY, United States - **Assets under management:** Undisclosed - **Website:** 21peakscapital.com - **LinkedIn:** https://www.linkedin.com/company/whitetowercapital ## Regulatory record - **CRD number:** 300111 - **SEC file number:** 801-135082 - **Registration status:** Registered - **Reports private funds:** Yes - **IAPD record:** https://adviserinfo.sec.gov/firm/summary/300111 ## About 21PEAKS CAPITAL MANAGEMENT, LLC is an SEC-registered investment adviser since 2026. The firm manages approximately $618,799 in assets. It has 6 employees and 5 investment advisers. ## Sectors - Energy Transition & Renewables ## Questions ### What is the investment strategy of 21 Peaks Capital Management? The firm makes pre-seed and seed-stage venture capital investments in startups developing hardware and software for distributed energy resources. Its thesis targets the 'grid edge' — technologies that enable decentralized generation, battery storage, virtual power plants, and electric vehicle infrastructure. The fund writes initial checks in the low hundreds of thousands and reserves capital for follow-on rounds in its highest-performing portfolio companies. ### Does 21 Peaks invest in both hardware and software companies? Yes, but with an emphasis on hardware-enabled software models. The firm seeks companies where a physical energy asset — a solar inverter, a battery, an EV charger — generates data or requires software coordination to reach economic viability. Pure SaaS energy plays are considered, but the firm's edge lies in evaluating the unit economics of physical asset deployment, a skill set drawn directly from Berger's operational background at Sunnova. ### How large is 21 Peaks' current fund? 21 Peaks Capital Management closed its first fund at $4.5 million in committed capital, as disclosed in a Form D filing with the US Securities and Exchange Commission in 2024. The fund size is intentionally small to preserve a concentrated portfolio of 15 to 20 companies and allow the general partner to engage deeply with each founding team. ### Does 21 Peaks invest outside the United States? The firm's current fund is focused on the US market, with investments concentrated in states with advanced distributed energy adoption such as Texas, California, and the Northeast. Given the regulatory complexity of energy markets and Berger's domestic expertise, near-term international exposure is unlikely unless a portfolio company expands abroad post-investment. ### What types of energy technologies does 21 Peaks explicitly avoid? The firm does not invest in upstream energy — exploration, production, or midstream infrastructure. It also avoids utility-scale renewable generation projects, as these are better served by project finance and infrastructure capital rather than venture equity. Fusion, long-duration grid storage not tied to residential or commercial loads, and nuclear technologies fall outside the current thesis. ## Related profiles - [Anhinga Investment Partners](https://altss.com/profile/anhinga-investment-partners) - [Equilus Group](https://altss.com/profile/equilus-group-inc) --- Last updated: 2026-06-03T20:00:00.000Z Canonical page: https://altss.com/profile/21peaks-capital-management-llc Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology