Underground Ventures

Underground Ventures is a technology investment firm dedicated to advancing geothermal energy solutions globally. The firm focuses on early-stage technology companies that are developing innovations to enable the widespread production of geothermal energy. Their investment scope covers critical areas such as advanced drilling techniques, well casing, rig and supply chain optimization, reservoir development, and turbine/energy conversion technologies. The firm aims to support the energy transformation by making carbon-neutral, abundant, and constant geothermal energy accessible anywhere, with a long-term vision for geothermal energy to constitute at least 10% of global energy production.

The firm was founded in 2024 by startup veterans Joachim Ante and Torsten Kolind. Joachim Ante, co-founder and former CTO of Unity Technologies, provides the financial backing, while Torsten Kolind, co-founder and former CEO of YouNoodle, leads the investment strategy. Their background as startup founders allows Underground Ventures to undertake risks that traditional venture capital firms might avoid, working closely with inventors and technologists to scale novel deployments beyond their initial stages. The firm operates with an initial capital commitment of USD 40 million, offering investment tickets ranging from USD 250,000 to USD 5 million, and is open to leading investment rounds.

Underground Ventures has made notable investments in companies that are at the forefront of geothermal technology. Their portfolio includes GA Drilling, a company focused on making deep geothermal drilling commercially viable through advanced systems like NexTitan, which aims to reduce drilling costs and increase efficiency. Other investments include Borobotics, which manufactures drilling robots for geothermal energy extraction, and Hephae Energy Technology, a developer of high-temperature drilling technology for geothermal exploration and extraction. These investments reflect the firm's commitment to supporting innovative solutions across the geothermal technology stack.

The team at Underground Ventures brings a wealth of experience from both the technology and energy sectors. Founding Partner Joachim Ante's deep technical background from Unity Technologies complements Co-Founder and Managing Partner Torsten Kolind's expertise in building and scaling startups. The firm is further supported by a strong advisory board, including Terra Rogers, a Superhot Rock Advisor from the Clean Air Task Force (CATF), and Rebecca Schulz, an Industry Advisor and former Head of US Energy Transition at Shell. This blend of entrepreneurial, technical, and industry-specific knowledge positions Underground Ventures to effectively identify and nurture groundbreaking geothermal technologies.