# NGP: portfolio, investments and team > NGP is a private equity based in United States. 12 investments on record, 5 in the last 12 months, latest Oct 2026. Portfolio, stages, co-investors and team. Source: https://millionrounds.com/fund/ngp (Millionrounds; every figure on the page links to its filing or article) United States · [Investor](https://millionrounds.com/investors) # NGP Last cheque observed Oct 2026; 12 cheques on record. Email Private equity Deploying now Last fund $240M, May 2021 Growth Buyout Energy Natural Resources Energy Transition Follow NGP and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Fngp) Deploying now **100%** of best year **5** **cheques in 12 months**, 12 on record Since the last cheque **28** days **00** hrs **00** min **00** sec Median round **$105M** Rounds led **0 of 12** Exits **1 from the portfolio** Mostly in **United States, 67%** Pitch NGP ## NGP highlights - 01 5 cheques in the last 12 months - 02 Mostly Series B and Series D: 60% of its rounds - 03 1 exits from the portfolio ## What they do > Private equity for a changing world -- We invest in people, ideas and companies to ensure responsible, secure energy today and to accelerate the transition to a more sustainable energy future. From their own website - **Type:** Private equity - **Cheque size:** Not stated - **Stages:** Growth Buyout - **Sectors:** Energy Natural Resources Energy Transition - **Based in:** Dallas, United States - **Cold pitches:** Not accepted ## The record Every round we can evidence, newest first **12 appearances** - **2026** 3 rounds - **Oct** **[Voltus](https://millionrounds.com/company/voltus)** Series D · US · NGP **$225M** With 7 others - **Aug** **[Form Energy](https://millionrounds.com/company/form-energy)** Series G · US · TechCrunch **$750M** With 19 others - **Jun** **[PhysicsX](https://millionrounds.com/company/physicsx)** Series C · GB · Firms' own news pages **$300M** With 10 others - **2025** 4 rounds - **Nov** **[X-Energy Reactor Company](https://millionrounds.com/company/x-energy-reactor-company)** Series D · US · Firms' own news pages **$700M** With 11 others - **Nov** **[ElectronX](https://millionrounds.com/company/electronx)** Series A · US · Ventureburn **$30M** With 12 others - **Sept** **[EV Realty](https://millionrounds.com/company/ev-realty)** Growth · US · Firms' own news pages **$75M** With 2 others - **Jun** **[PhysicsX](https://millionrounds.com/company/physicsx)** Series B · GB · TechStartups **$135M** With 9 others - **2019** 1 round - **Mar** **[Zinier](https://millionrounds.com/company/zinier)** Series B · US · FinSMEs **$22M** With 3 others - **2018** 2 rounds - **Apr** **[WorkFusion](https://millionrounds.com/company/workfusion)** Series E · US · FinSMEs **$50M** With 3 others - **Feb** **Moovit** IL · TechCrunch **$50M** With 8 others - **2008** 2 rounds - **May** **[XunLight](https://millionrounds.com/company/xunlight)** Series B · US · xunlight.com **$22M** With 2 others - **Mar** **[Bubbly](https://millionrounds.com/company/bubbly)** Series B · SG · bubblemotion.com **$14M** With 2 others An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor. ## The team Named by the firm itself, on a filing, its Form ADV or its company registration **14 named** BW **Bruce W. Rosenblum** Chief Risk Officer and Managing Director i Filing they signed CG **Christopher George Carter** Managing Partner i Form ADV DA **Daniel Anthony D'Aniello** Chairman and Managing Director i Filing they signed DD **David D. Bibb** Executive Vice President of NGP VI Management, LLC, the Issuer's Manager i Filing they signed DD **David D. Kent** Managing Partner of NGP VI Management, LLC, the Issuer's Manager i Filing they signed DM **David Mark Rubenstein** Chief Executive Officer and Managing Director i Filing they signed DR **David Robinson Tubb** Chief Compliance Officer i Form ADV GW **Glenn W. Youngkin** Chief Operating Officer and Managing Director i Filing they signed JA **Jeffrey Alan Zlotky** General Counsel i Form ADV JW **Jeffrey W. Ferguson** General Counsel and Managing Director i Filing they signed JW **Jill Wertheimer Lampert** Chief Financial & Administrative Officer i Form ADV SE **Sammy Eldin** Managing Partner of NGP VII Management LLC, the Issuer's Manager i Filing they signed SA **Shan Ashary** Managing Partner of NGP VII Management LLC, the Issuer's Manager i Filing they signed WE **William Elias Conway, Jr.** Chief Executive Officer and Managing Director i Filing they signed We also hold **13** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them. ## What the register says From the firm's own filings with the SEC, which it must file accurately by law **$11B** assets it manages Oct 2026 **Registered** investment adviser full reporting to the SEC - **Legal name:** NGP Energy Capital Management, LLC - **SEC number:** CRD 160729 Funds on its Form ADV **14** private funds, **$11B** in gross assets · filed Mar 2024 - NGP Natural Resources XI, L.P. *Private equity* 437 investors $3.3B - NGP Natural Resources XII, L.P. *Private equity* 225 investors $3.0B - NGP Natural Resources XIII, L.P. *Private equity* 110 investors $1.5B - NGP Natural Resources XI Parallel Fund, L.P. *Private equity* 30 investors $780M - NGP Energy Transition IV, L.P. *Private equity* 81 investors $692M - NGP Natural Resources XII Parallel Fund, L.P. *Private equity* 39 investors $667M - NGP Royalty Partners II, L.P. *Private equity* 90 investors $526M - NGP Royalty Partners, L.P. *Private equity* 53 investors $279M - NGP Natural Resources X, L.P. *Private equity* 317 investors $270M - NGP Agribusiness Follow-ON Fund, L.P. *Private equity* 48 investors $131M And 4 more on the filing. Who backs their funds ## 1 LP on record in NGP's funds - **Committed:** $450M - **Funds:** 3 - **Vintages:** 2011 to 2017 The institutions that put money into its funds, which the firm then invests in companies. Source: the pension's own report, latest Jun 2026. - [**Minnesota State Board of Investments** 3 funds *$450M*](https://millionrounds.com/fund/minnesota-state-board-of-investments) Fund Vintage Committed NGP Natural Resources XII 2017 $150M NGP Natural Resources XI 2014 $150M NGP Natural Resources X 2011 $150M ## Exits from the portfolio Companies it backed that were later bought or listed **1 in all** **[Bubbly](https://millionrounds.com/company/bubbly)** Bought by [Altruist Technologies](https://millionrounds.com/fund/altruist-technologies) **Undisclosed** Aug 2014 An exit counts when it came after the firm's first round in the company. From historical deal records. Latest fund on file **$240M** raised in May 2021 From its SEC filing. Nothing newer is on file yet. ## The cheque Growth Buyout Median round joined **$105M** the round, not its cheque Led 0 of 12 rounds **0%** - **Sole investor:** Never alone - **Last cheque:** Oct 2026 - **Exits:** 1 from the portfolio Rounds by stage said on their site - Series B *4* - Series D *2* - Series A *1* - Series C *1* - Series E *1* - Growth said *1* - Buyout said *-* Cheques by month Led Joined Dec 2023 Nov 2026 Often in the room with - [Applied Materials (Korea)](https://millionrounds.com/fund/applied-materials) 2 - [Atomico](https://millionrounds.com/fund/atomico) 2 - [General Catalyst](https://millionrounds.com/fund/general-catalyst) 2 - [July Fund](https://millionrounds.com/fund/july-fund) 2 - [Sequoia Capital](https://millionrounds.com/fund/sequoia-capital) 2 - [Siemens](https://millionrounds.com/fund/siemens) 2 **Pitching NGP?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque. Add to your CRM *→* ## Who they invest alongside The investors most often in the same rounds as NGP. A count of rooms they were both in, not a relationship either has claimed. [**Applied Materials (Korea)** VC firm **2** rounds together](https://millionrounds.com/fund/applied-materials)[**Atomico** VC firm **2** rounds together](https://millionrounds.com/fund/atomico)[**General Catalyst** VC firm **2** rounds together](https://millionrounds.com/fund/general-catalyst)[**July Fund** VC firm **2** rounds together](https://millionrounds.com/fund/july-fund)[**Sequoia Capital** VC firm **2** rounds together](https://millionrounds.com/fund/sequoia-capital)[**Siemens** Corporate VC **2** rounds together](https://millionrounds.com/fund/siemens)[**Temasek Holdings** VC firm **2** rounds together](https://millionrounds.com/fund/temasek) ## Recently backed The latest companies NGP put money into. [**Voltus** $225M · Oct 2026](https://millionrounds.com/company/voltus)[**Form Energy** $750M · Aug 2026](https://millionrounds.com/company/form-energy)[**PhysicsX** $300M · Jun 2026](https://millionrounds.com/company/physicsx)[**ElectronX** $30M · Nov 2025](https://millionrounds.com/company/electronx)[**EV Realty** $75M · Sept 2025](https://millionrounds.com/company/ev-realty)[**Zinier** $22M · Mar 2019](https://millionrounds.com/company/zinier) ## Quick answers about NGP ### What does NGP invest in? NGP invests most often at Series B and Series D (60% of the rounds on record), in sectors such as Energy, Natural Resources and Energy Transition. ### How active is NGP? 12 investments on record, 5 of them in the last 12 months. The most recent was in Oct 2026. ### What has NGP invested in recently? Its most recent investments on record: Voltus (Series D, Oct 2026), Form Energy (Series G, Aug 2026) and PhysicsX (Series C, Jun 2026). ### How big are NGP's cheques? The median round it joins is $105M. ### Does NGP lead rounds? Rarely, if at all: none of its 12 investments on record names it as the lead. ### Where does NGP invest? Most of the companies it backs are in the United States (67%), the United Kingdom (17%) and Israel (8%). ### Is NGP investing now? Yes: it is actively investing, with 5 investments in the last 12 months. ### Who does NGP invest alongside? Most often Applied Materials (Korea) (2 rounds together), Atomico (2 rounds together) and General Catalyst (2 rounds together). ## Raising now? Find the investors who back rounds like yours, and keep every conversation on one fundraising board. Find similar investorsOpen your CRM Built from the rounds we watched, its filings and its own website, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections?slug=ngp) · [Is this your firm? Claim it](https://millionrounds.com/claim?org=ngp)