Managing Director

David Lincoln

David has been a prominent investor in growth equity for almost 20 years and has over 25 years of experience operating and investing in energy and technology companies.

Prior to forming Activate, David founded and built Element Partners, an $860 million broadly diversified cleantech investment firm, a leading cleantech growth equity firm at that time. Prior to founding Element in 2005, David was a co-founder and Managing Director of EnerTech Capital Partners, an energy technology venture firm formed in 1996. Under his leadership, EnerTech worked closely with strategic and institutional investors and successfully managed over $290 million in two funds specifically focused on energy, communications, and clean technologies. In 1991, David founded and served as President and CEO of Deven Resources, Inc., a private equity firm dedicated to the acquisition, development, and management of oil & gas properties where he also ran a small E&P company in Lubbock, TX. From 1984 to 1991, David was a partner with CMS Companies, a Philadelphia-based private equity and financial services firm. David began his career at UGI Corporation, a diversified energy and utility holding company.

In addition to his operating and investment career, David has also been an active participant helping to shape federal policy for the venture capital and growth equity industry. As a board member of the National Venture Capital Association for four years, David chaired the NVCA Energy & Cleantech Committee and worked with policymakers to promote capital formation for technology companies focused on US energy efficiency and renewable energy technologies. In addition, as the 2014-15 Chair of the NVCA Growth Equity Group, David worked with industry participants, research firms and policymakers to establish and benchmark Growth Equity as a distinct asset class within private equity. David remains active with the Growth Equity Policy team today.

David holds a BA with honors in Geology from Colgate University and an MS in Energy Management and Policy from the University of Pennsylvania. He is also active in addressing the City of Philadelphia school crisis as an Executive Committee and Board member with City Year of Philadelphia.