Piva Capital is a San Francisco venture firm founded in 2019 to invest in breakthrough technologies for heavy industry and energy. Founder Ricardo Angel, previously of GE Ventures, launched the firm in December 2019 with a $250 million fund backed by Petroliam Nasional Berhad, the Malaysian national energy company known as PETRONAS, which was the sole limited partner of that first fund while the firm operates and invests independently. Piva describes itself as backed by a global Fortune 500 energy company and organizes its thesis around three themes: the future of industry and work, the future of materials and production, and the future of energy and mobility. It invests from early to growth stage in companies such as Boston Metal, Koloma, VEIR, Pyka, Menlo Micro, and Xage Security. Realized outcomes include metal additive manufacturing company Velo3D, which Piva backed at Series D in 2020 and which listed on the NYSE through a SPAC merger in September 2021, plus acquisitions of Urbint by Itron, agreed in October 2025, and Alloy Enterprises by Johnson Controls, completed in May 2026. The team has evolved since launch: Ricardo Angel and Mark Gudiksen now serve as managing partners alongside co-founding partner Adzmel Adznan, while some early partners are no longer listed. The firm remained active through 2025 and 2026, publishing its 2025 responsible investment report in April 2026.
Metal 3D printing company Velo3D, which Piva backed at its 2020 Series D, went public on the NYSE via SPAC merger in September 2021.