CSL Capital Management LP has formed CSL Ventures, which is focused on early-stage technology-focused opportunities across the energy services industry. The strategy will be part of the firm’s newest fund CLS Energy Opportunities Fund III.
HOUSTON–(BUSINESS WIRE)–CSL Capital Management, L.P. (“CSL Capital”) is pleased to announce the formation of CSL Ventures, a new investment initiative focused on early stage and technology-focused opportunities across the energy services industry. The new strategy will be part of the firm’s latest fund CSL Energy Opportunities Fund III. The energy industry is entering an era where technological innovation has become essential to facilitate cost reduction, efficiency improvement, and meet new environmental and social goals. In this environment, there is a growing need to provide long-term sustainable capital, operational knowledge and guidance to emerging energy technology companies.
Charlie S. Leykum, Founding Partner of CSL Capital, stated, “We are launching CSL Ventures to address the rapidly evolving technical needs of the energy industry at a time when not only production, cost control and efficiency, but also sustainable business development are of paramount importance. We want to enable leading entrepreneurs to build successful enterprises by providing capital, deep industry connections, and digital and operational expertise.”
Over the last year, CSL Capital has hired three professionals with extensive digital technology qualification, venture investing experience, and operational expertise to lead this initiative. Imran Kizilbash (with three decades in the energy industry including as the head of Schlumberger’s Venture Fund) joins as a Managing Director, Vasu Guruswamy (with over three decades in the energy industry including as the Vice President of Schlumberger’s software division) joins as a Managing Director & Venture Partner, and Abhinav Jain (with over 10 years in the energy industry across a variety of functions including energy finance, strategy consulting, and field operations) joins as a Vice President. The team’s unique and diverse experience ideally positions CSL Ventures to identify and execute on technology opportunities. An investment has already been made in one such opportunity and numerous others are being evaluated.
Imran Kizilbash and Vasu Guruswamy added, “The energy services segment is being asked to do more with less as upstream companies are simultaneously trying to serve the challenging priorities of generating near-term cashflow while continuing to grow. The industry has reached the bottom of the cost-curve and it now needs more focus on technology to drive further efficiency gains to improve production and expand reserves and as a result, the appetite is at an all-time high to embrace innovation in the energy sector.”
CSL Ventures will extend CSL Capital’s global network of sourcing unique opportunities, proven track record of successfully incubating and building greenfield businesses, and creative transaction structuring capabilities through the energy cycle for the benefit of early stage and technology-focused companies. This will further position CSL Capital to be the partner of choice for leading entrepreneurs and executives whether pursuing first capital for a start-up or later stage business development.
About CSL Capital Management
CSL Capital is a SEC-registered investment firm focused on energy services and equipment businesses in the U.S. Headquartered in Houston, Texas, CSL Capital was founded in early 2008. The current CSL Capital portfolio includes several de novo, growth, recapitalization, and other investments. CSL Capital’s partners include financial institutions, endowments, foundations, and family offices, among other institutional groups. Since its 2008 inception, CSL Capital has raised in excess of $1.7 billion in equity capital and commitments across several distinct investment vehicles. For more information, please visit www.cslenergy.com