Factor[e] Ventures has named Jit Bhattacharya as a principal. Bhattacharya is a former CTO of Fenix International. Bhattacharya is based in Factor[e] Ventures’ Nairobi office.
NAIROBI, Kenya and FORT COLLINS, Colo., Nov. 19, 2019 /PRNewswire/ — Jit Bhattacharya, a pioneering clean technology innovator and previous CTO of Fenix International has joined the global venture development firm, Factor[e] Ventures in their Nairobi office. As a Principal, Jit will lead investments into technology-enabled, early-stage ventures that improve lives in the developing world. His main focus will be on companies in the access to energy and mobility sectors.
Prior to joining Factor[e], Jit worked for over 10 years as a cleantech entrepreneur in Silicon Valley and in energy access in Africa. As CTO of Fenix International, Jit led product and technology development for a next-generation renewable energy and financial services company that delivered off-grid energy solutions to over 600,000 homes across Africa. Jit was also part of the executive team that led the successful sale of Fenix to ENGIE, the largest independent power producer in the world.
Prior to Fenix, Jit served as CEO of Mission Motor Company, a Silicon Valley startup that developed one of the highest performing electric motorcycles ever built. Jit led the company through multiple venture rounds and built relationships with major vehicle manufacturers around the world for Mission’s technology. Jit also worked in product development at Apple as a manager in the Special Projects Group.
When asked about his decision to join Factor[e] Jit commented, “I am thrilled to be joining the Factor[e] team in its mission to build impactful ventures. With over 1 Billion people across the world living without access to modern energy services – and 3 Billion living in underpowered economies – it is a pivotal time for the drive for global energy access. The rapid evolution of distributed energy, connectivity, and digital finance has unlocked new commercial models and opportunities for how this need is met. Factor[e] is at the forefront of this transformation, empowering the entrepreneurs and innovations that are primed to transform this landscape and fundamentally change how these economies achieve a sustainable and equal energy system.”
Morgan DeFoort, Managing Principal of Factor[e] Ventures stated, “We are thrilled to add Jit to our global team. His expertise will add immense value to our current portfolio companies and will further sharpen our investing strategy in energy and mobility solutions.”
Jit’s experience as a well-respected entrepreneur in renewable energy and mobility and his passion for bringing sustainable solutions to people in the developing world will accelerate Factor[e]’s objective to build world leading and world changing impact ventures in emerging markets.
About Factor[e] Ventures
Factor[e] is a global venture development firm with a mission to improve lives in the developing world through increased access to sustainable energy and related services. Factor[e] finds, validates, funds, de-risks, and grows a rich pipeline of social ventures that aim to solve profound global problems, and supports early stage entrepreneurs through a unique blend of risk capital and world-class technical resources. For more information, visit http://www.factore.com.