EnCap Investments L.P.
Founded in 1988, EnCap Investments is a leading provider of venture capital to North America's independent energy industry. EnCap Investments is led by seven principals: the four founding partners — David B. Miller, Gary R. Petersen, D. Martin Phillips and Robert L. Zorich — and two additional managing partners — Jason M. DeLorenzo and Douglas E. Swanson, Jr. The founders have led EnCap since inception and have a professional working relationship that spans more than 35 years, while the three other managing partners have an average of 28 years of industry-related experience, including an average of more than 15 years tenure at EnCap.
Since its inception, EnCap has raised 22 institutional funds totaling more than $38 billion and today manages capital on behalf of more than 350 institutional investors. EnCap's first six funds included three reserve acquisition funds and three mezzanine debt funds. In 1994, EnCap transitioned into growth capital based on the belief that it offered a more attractive risk/return equation and better alignment of interests with the management teams of the firm's portfolio companies. These funds have concentrated on providing growth capital to small to mid-cap independents.
Over the history of the firm, EnCap has invested nearly $22 billion in more than 240 companies. More than 180 of those investments have been realized, resulting in returns that have consistently exceeded targets.