Former Biden loan program director Jigar Shah joins Powerhouse Ventures
Jigar Shah oversaw $400 billion in funding while director of the Loan Programs Office. Read More
Jigar Shah, the former director of the Biden administration’s Loan Program Office (LPO) in the Department of Energy (DOE), has officially joined venture capital firm Powerhouse Ventures as a part-time partner.
Launched in 2018, Powerhouse Ventures primarily backs seed-stage startups seeking to decarbonize industry and accelerate the transition to net-zero. Powerhouse investors include Microsoft, Credit Suisse, and Fifth Wall, among others, and it has 41 portfolio companies who have raised a total of $521 million thus far.
A pioneer in the space
Shah served as the director of the LPO from 2021 to 2025, overseeing the $400 billion provided to the office’s mission to fund innovative decarbonization technologies deemed too risky for the private sector. As a venture partner at Powerhouse, Shah will play a role similar to his job prior to LPO, when he co-founded and served as president at Generate Capital, an infrastructure platform that helps connect renewable energy companies to solutions provided by partners.
As the founder of SunEdison, Shah pioneered of the “pay as you save” solar financing model, which allows utilities to invest in efficiency upgrades on behalf of their customers, then recoup the investment by including an extra charge on energy bills.
Now back in the private sector, Shah will continuing to work toward global decarbonization.
“Jigar is already actively engaged with our founders,” wrote Emily Kirsch in a LinkedIn post announcing Shah’s position, “providing strategic guidance and opening doors to new opportunities.”
*Correction. The article was clarified to say that Jigar Shah is a part-time partner at Powerhouse Ventures.
