Founder & Managing partner, Dbl Partners, San Francisco, ca

Early Impact Investor in Tesla, SpaceX and Solar City



Nancy was an early investor in Tesla, SolarCity and SpaceX.

After her investment in Tesla, Elon Musk himself convinced the founders of SolarCity to contact Nancy for a funding.

She said investing in Musk’s companies is “not for the faint of heart.”


DBL Partners is a Ven­ture cap­i­tal firm whose goal is to com­bine top-tier finan­cial returns with mean­ing­ful social, envi­ron­men­tal and eco­nomic returns in the regions and sec­tors in which it invests .

DBL Partners helps big name companies give back. DBL stands for “double bottom line”. The notion that a company can make money -the first bottom line — and make a difference — the second one.


Pfund, 58, is perhaps the most successful venture capitalist with the lowest profile. As the founder of San Francisco’s DBL, she champions eco-friendly companies that also appeal to Wall Street. Pfund was an early investor in both Tesla Motors and SolarCity and saw both stocks take off in 2013.

She’s featured on the list among Elon Musk, CEO Tesla, and powerful women such as Lisa Jackson, VP of environmental initiatives, Apple.


Nancy has been listed by Fast Company for finding a good return on social impact.

The list includes creatives such as Martin Lotti, VP, global category creative director at Nike, Maria Grazia Chiuri, Creative Director at Dior and much more.


Nancy E. Pfund is Founder and Man­ag­ing Part­ner of DBL Part­ners, a ven­ture cap­i­tal firm whose goal is to com­bine top-​​tier finan­cial returns with mean­ing­ful social, envi­ron­men­tal and eco­nomic returns in the regions and sec­tors in which it invests.


Nancy is also the Founder of DBL Investors. As a lead­ing player in the grow­ing field of impact invest­ing, DBL has helped to reveal the power of ven­ture cap­i­tal to pro­mote social change and envi­ron­men­tal improve­ment.


Ms. Pfund cur­rently spon­sors or sits on the board of direc­tors of sev­eral com­pa­nies, includ­ing; Farm­ers Busi­ness Net­work, The Muse, Advanced Micro­grid Solu­tions, Off-​​Grid Elec­tric, Primus Power, and, prior to their pub­lic offer­ings, Tesla Motors and Pan­dora.
She also served on the board of SolarCity from 2008 until its acqui­si­tion by Tesla in Decem­ber 2016, on both the audit and com­pen­sa­tion com­mit­tees, and chair­ing its cor­po­rate gov­er­nance com­mit­tee.


Prior to found­ing DBL Investors, Ms. Pfund was a Man­ag­ing Direc­tor in Ven­ture Cap­i­tal at JPMor­gan, hav­ing started her invest­ment career at Ham­brecht & Quist in 1984. Pre­vi­ously, Ms. Pfund worked at Intel Cor­po­ra­tion, the State of Cal­i­for­nia, Stan­ford Uni­ver­sity and the Sierra Club.


Ms. Pfund was fea­tured #17 in the 2014 FORTUNE Inau­gural World’s Top 25 Eco- Innovators; and appeared on Fast Company’s 2016 List of Most Cre­ative Peo­ple in Busi­ness.

She serves on the Advi­sory Coun­cil of the Bill Lane Cen­ter for the Amer­i­can West at Stan­ford Uni­ver­sity; the Advi­sory Board of the Lawrence Berke­ley National Lab­o­ra­tory (Berke­ley Lab); the UC Davis Cen­ter for Energy Effi­ciency, and co- chairs the Yale School of Man­age­ment Pro­gram on Entre­pre­neur­ship.


Ms. Pfund is also a Trustee of the National Geo­graphic Soci­ety. She has been a Lec­turer in Man­age­ment at the Stan­ford Grad­u­ate School of Busi­ness and the Yale School of Man­age­ment; and is a C3E Ambas­sador to the U.S. Clean Energy Edu­ca­tion and Empow­er­ment Pro­gram, led by the U.S. Depart­ment of Energy. She is also a found­ing offi­cer and direc­tor of ABC2, a foun­da­tion aimed at accel­er­at­ing a cure for brain cancer.


Ms. Pfund is the author, along with Ben­jamin Healey of the widely cited report on the his­tory of U.S. energy sub­si­dies enti­tled, “What Would Jef­fer­son Do? The His­tor­i­cal Role of Fed­eral Sub­si­dies in Shap­ing America’s Energy Future”, co- authored with Michael Lazar, “Red, White & Green: The True Col­ors of America’s Clean Tech Jobs”, co- authored with Noah Walker, “Ask Saint Onofrio: Find­ing What Has Been Lost in A Tale of Two Energy Sources”, co- authored with Anand Chhabra, “Renew­ables Are Dri­ving Up Elec­tric­ity Prices: Wait, What?”, and co- authored with Kristofer Holz, “The 2017 Inau­gu­ra­tion: Empow­er­ing a Clean Energy Nation”.


Ms. Pfund received her BA and MA in anthro­pol­ogy from Stan­ford Uni­ver­sity, and her MBA from the Yale School of Management.