Where capital meets judgement.

Portico serves the asset owners, corporations, and investment firms driving innovation across energy systems.

See our practice → About Strata
Track record
$9B+
In transactions advised
Experience
33%
S&P Global 500 advised
Geographic breadth
85+
Countries

More than thought partners. Company builders.

Portico’s leadership team brings a proven track record of bridging the gap between concept and scale. Our prior work spans private markets and principal investing, energy and infrastructure project development, and product launch and go-to-market.

Independent

Uniquely in our field, every engagement is led by the Managing Partners who own and govern the firm. We take backstop responsibility for ensuring our insights and recommendations are actionable and enable our clients to win. To retain full independence in our advice, we do not provide sell-side marketing or capital-raising services in any form.

Evidenced

Our work is grounded in primary research with technical experts who bring firsthand experience of testing, procuring, and maintaining the class of technology our client is evaluating. Our solutions are built to identify end-user adoption criteria, verify unit economics, and substantiate drivers of demand. We take nothing at face value and trace everything to source.

Operator-led

Portico's Managing Partners are operators and investors first, advisors second. We are company builders with hard-earned founder experience who have lived with the consequences of our business decisions. We roll up our sleeves, gather proprietary insights and data, and work from first principles to reach independent conclusions. We only give advice that we would act on ourselves.

What we do

We cut through complexity to provide strategic clarity.

Research & Intelligence

Most market intelligence is downstream of public information. We execute structured primary research that builds conviction on companies, technologies, markets, policy, and geopolitical dynamics. We generate proprietary data and insights through direct engagement with the operators, technologists, and decision-makers who hold ground truth. The result is conviction that desk research alone cannot deliver.

Investor research Competitive intelligence Market mapping Regulatory landscape

Assessment & Due Diligence

We evaluate technical performance, product-market fit, unit economics, and team quality on the evidence. We hand-pick experts from our network who have built the class of technology under review, interview from component suppliers to end customers, and verify numbers from the bottom up. Our IC-ready assessments distinguish scalable technologies from vapourware.

Technology assessment Commercial due diligence Market sizing Go/no-go recommendations

Transaction Support

Our transaction advice is resistant to narrative and backed by unimpeachable data. We rebuild the seller’s case from primary research, identifying where optionality has been overstated and where our client can engineer value invisible to others. After scrutinising the cap table for hidden conflicts, we design capital structures to fit each transaction’s dynamics.

Valuation & price discovery Capital structuring Cap table forensics Risk mitigation Exit viability

Strategic Advisory

We build high-conviction investment strategies that enable off-market origination, global platform building, and accelerated technology integration. The critical question isn’t just ‘what’s the ROI?’—it’s whether an investment advances your strategic priorities and extends the edge that your assets, networks, and customer reach already give you. We workshop priorities with leadership, frame the buy-build-partner decision, map how targets integrate with existing operations, and design vehicles built for scale.

Investment thesis Vehicle design Market entry Technology landscapes Competitive positioning

Five layers. One theme.

Our work centres on technologies enabling the energy systems of the future, on both sides of the meter.

Facing unprecedented growth in power consumption, grids need transparency of real-time and predicted supply and demand, and a greater ability to balance loads safely. At the same time, the utility-led model of power procurement is diversifying to include captive solutions.

As the reconfiguration of traditionally centralised grids to interface with flexible distributed resources gathers momentum, Portico’s expertise lies in pinpointing innovations with true network adoption and scale potential.

Energy investing requires industry-specific frameworks, accounting for highly regulated markets and concentrated customer sets.

All of our work is built upon the proprietary market maps and IP we have developed—and continuously update—across the key layers of energy systems.

Generation

Utility-scale renewables, nuclear, thermal + natural gas, geothermal. Project finance, off-take structuring, and technology assessment for the assets the system runs on.

Grid Infrastructure

Components, transmission and distribution, interconnection, power markets, and the flexibility layer—including the software stack and energy storage systems.

Distributed Energy

Behind-the-meter solar, storage, microgrids, aggregation, and demand response. Where unit economics meet interconnection reality and the regulatory architecture that determines whether a thesis is investable.

Demand-side Electrification

Electric vehicles and charging infrastructure, data-centres, industrial heat and process electrification, and building decarbonisation.

Materials

Battery minerals and technologies, green steel and aluminium, and the circular and recycling infrastructure built around them. Supply-chain economics and off-take risk.

Selected work

Decisions clients couldn't afford to get wrong.

Designed and launched a multi-country battery minerals investment platform for a direct investor entering the sector, from opportunity mapping through transaction structuring and partner selection.
Retained by a family office to conduct primary due diligence on a first-of-its-kind autonomous subsea platform designed to support offshore energy projects, including technology readiness evaluation and commercial viability assessment across three target markets.
Advised a leading US technology firm on market entry and customer acquisition strategies, developing localised launch roadmaps across 14 countries to scale an electric mobility platform.
Provided independent commercial assessment of a novel transformer technology for a European investor evaluating a growth equity investment.
Provided comprehensive due diligence and structuring advice for a group of private infrastructure investors and development finance institutions evaluating Independent Power Projects.
Designed and structured a permanent capital vehicle for a family office to accelerate investments across the generation, transmission, and consumption of clean energy.
Conducted commercial and technical due diligence on automated biodiversity monitoring technologies to de-risk large-scale energy and infrastructure developments and ensure regulatory compliance.
Developed a comprehensive decarbonisation strategy focused on industrial heat processes for a multinational agricultural corporation.
From the workshop Private beta

Portico Strata.
Our proprietary methodology for assessing deals, codified.

We built Strata to help teams screen more opportunities to a high and consistent standard. Driven by our distinctive house view of energy systems, Strata harnesses Portico’s vertical-specific frameworks and scoring rubrics to provide insights that no general AI system or prompt can deliver.

Calibrated against real-world transactions and our own database of more than 600 companies, Strata gives investment teams an independent second opinion on a company—fast—along with a view of what that company’s existence reveals about the broader shape of energy systems.

Send us a deal—pitch deck, teaser, data room—and receive a scored five-dimension investment memo in 24–48 hours. Currently in private beta with a select group of energy investors.

— Market maps 14
— Co's screened 600+
— Access By invitation
Mike Casey

Mike Casey

Founder & Managing Partner
Bill Steen

Bill Steen

Managing Partner
Ashley Elliot

Ashley Elliot

Senior Advisor
Get in touch

Have a deal, a thesis, or a question on your mind?

Email the team → Request Strata beta access