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headshot image of kelly moulton, wave equity partners new head of capital formation


New leadership role supports the growing demand for clean technology investments that deliver both climate impact and commercial scale.

Boston, MA, and Bergen, Norway, January 3, 2024 – WAVE Equity Partners, a leading sustainability-focused investment firm dedicated to fostering innovation and supporting the growth of emerging companies, is pleased to announce the appointment of Kelly Moulton as the Head of Capital Formation. In this strategic role, Mr. Moulton will be WAVE’s ambassador to the global limited partner universe focusing on capital formation initiatives within the early-growth Private Equity space.

Bringing an extensive background in capital raising, marketing, and entrepreneurship, Mr. Moulton is recognized as a seasoned expert in the intersection of climate technology and industrial manufacturing.  Across the Nordic region, he has made substantial contributions to early-stage companies, assisting them in securing financing while actively mentoring and engaging in angel investing in startups.  Since moving to Europe, Kelly has played a key role in originating and closing over $600 million in capital for fund platforms as well as direct technology investments. 

“I am thrilled to join WAVE and deeply believe in their mission of supporting and scaling proven organizations with viable products that are already delivering both climate and economic impact,” said Mr. Moulton. “There is a significant funding gap for early-growth equity in climate tech and WAVE is uniquely positioned to help lead portfolio companies to further deliver much-needed advancements for global manufacturers.”

Mr. Moulton’s impressive track record includes co-founding a pioneering SaaS company, Bottle Rocket, in 1996, which exited to a Nasdaq-traded company in 2000 (ACTV). Subsequently, Mr. Moulton joined London-based antfactory, a pan-European venture capital firm, in London and later assumed the role of Founding CEO of a gaming company, which was acquired through a private trade sale.

“Europe and the UK have emerged as major strategic focus regions for WAVE Equity Partners,” said Mark Robinson, Founder and Managing Director.  “The continent is at the forefront of industrial innovation, including the energy transition and impact investing, and represents a significant growth area for WAVE going forward, as evidenced by newly made investments QiO Technologies in the UK and Intelligent Fluids in Germany. Kelly’s expertise and deep relationships with sophisticated pools of capital, including sovereign wealth funds, pensions, endowments and family offices, will be invaluable as we continue to expand our portfolio and deliver for our growing global investor base.”

For media inquiries, please contact:

Zach Kouwe / Christian Healy, Dukas Linden Public Relations,

About WAVE Equity Partners:

WAVE Equity Partners (WAVE) is an independent sustainability-focused investment firm. We partner with early-growth companies whose proven clean technologies drive meaningful bottom-line impact and environmental benefits for large industrial manufacturers. Our industry knowledge and dedication to true partnership allow us to identify and support leaders whose innovative solutions are commercially accepted, deliver immediate impact and are poised to scale. WAVE is currently investing out of its third institutional fund and has approximately $460 million under management (AUM) as of September 30, 2023. For more information please visit or by following the company on Twitter/X and LinkedIn.



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Novolyze is a developer of a tech-enabled system designed to empower food and beverage companies to enhance food safety and quality performance. Their surrogate microorganisms technology specializes in food safety microbiology. It offers monitoring of steam pasteurizers, sterilizers, dryers, roasters, extruders, and ovens, enabling food companies to produce and provide clean food products to customers.

Micatu, Inc.

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MayMaan Research Inc.

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Living Greens Farm

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Factorial Inc.

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