Dennis R. Costello

Managing Partner

Dennis R. Costello

Dennis R. Costello has more than 30 years of experience in the energy and venture capital industries. Mr. Costello was previously a partner with Advent International, an international private equity firm where he rose to chief investment officer for North America. He was personally responsible for 23 investments, 10 of which were in the energy area. Mr. Costello was also a managing director in Rock Maple Ventures, an early-stage technology venture fund in Boston. He started in the venture capital industry as a general partner of Zero Stage Capital, of Pennsylvania. Before embarking on a career in venture capital, Mr. Costello was the first Executive Director of the Colorado Advanced Technology Institute (CATI) in Denver. Mr. Costello began his career in alternative energy with positions as a project manager at Midwest Research Institute and as a member of the original staff of the National Solar Energy Research Institute (SERI), which is now the National Renewable energy Laboratory (NREL). During that period, Mr. Costello published numerous papers and articles on the economic and market issues of solar energy commercialization. He is also the author of the Dow Jones Irwin book, New Venture Analysis: Research, Planning and Finance.

Mr. Costello holds an M.S. degree in business from the Massachusetts Institute of Technology, where he was an Alfred P. Sloan Fellow. He also holds an M.A. in economics from Ohio State University and a B.A. in economics from the State University of New York (SUNY), College at Fredonia, where he currently serves as a Director of the Fredonia College Foundation.

Mr. Costello sits on the boards of Nuventix, Fulham, Luminus, Laser Light Engines, LumEnergi, NexSteppe, and Albeo. He served on the board of directors of the New England Venture Capital Association from 1997–1999. He was a founder and chairman of the MIT Enterprise Forum of Colorado. Mr. Costello is a member of the Dean's Advisory Council of the University of Rhode Island’s Graduate School of Oceanography.

“I believe venture capital has a vital role to play in our global energy future. But it takes experience to maneuver around the numerous pitfalls that also characterize this sector.”

— Dennis R. Costello

Past and Present Portfolio Companies:

  • Albeo
  • Nuventix
  • Lumenergi
  • Laser Light Engines
  • NexSteppe
  • Climos
  • Luminus Devices
  • Fulham
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