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Patrick Wade
Founding Partner CarboNexus LLC
Professional Background
Patrick Wade is an accomplished entrepreneur and investor, best known as the Co-Founder of CarboNexus, a pioneering decarbonization venture capital platform. Since its inception, CarboNexus has dedicated its efforts to investments in early-stage, high-growth companies focused on innovative solutions for decarbonizing waste streams. This unique investment strategy emphasizes not only financial returns but also sustainable impacts, aligning perfectly with the urgent global need for environmental stewardship. At CarboNexus, Patrick and his team target both controlling and non-controlling equity investments, specifically in companies and projects that manage waste effectively and sequester carbon efficiently. The preference for distributed and scalable business models underlines their commitment to fostering a sustainable future through advanced technology and innovative practices.
Before establishing CarboNexus, Patrick built an impressive 25-year career in the energy sector, demonstrating remarkable expertise and leadership in various roles. From 2008 to 2018, he played a pivotal role as the Managing Director at the Energy & Minerals Group, a prominent private investment firm focused on the energy industry. His primary responsibilities involved direct investments across the natural resources landscape. During his tenure, he contributed significantly to the growth and governance of several noteworthy organizations, serving on the Board of Directors of influential companies such as MarkWest Liberty, NGL Energy Partners, Medallion Midstream, Ferus Inc., Lodestar Energy, and High Sierra Energy.
Patrick’s entrepreneurial spirit shone through earlier in his career when he joined a group of former colleagues to launch Bear Energy, LP. From 2005 to 2008, he held the position of Managing Director, leading initiatives that contributed substantially to the firm’s growth and influence in the energy sector. Prior to Bear Energy, he was instrumental as the co-founder and Managing Partner of Tiger Midstream from 2003 to 2005, where he oversaw the development of natural gas pipelines and evaluated investment opportunities exceeding $1 billion in the energy midstream sector.
Patrick’s journey in the energy industry started with roles at Calpine Corporation where he worked from 2001 to 2002, and at Houston Pipeline Company, from 1995 to 2000. These formative experiences provided him with a robust foundation in energy management and investment strategies that would serve him well throughout his extensive career.
Education and Achievements
Patrick holds an impressive educational background, comprising an M.B.A. from the Rice University Jesse H. Jones Graduate School of Business, where he honed his business acumen and strategic thinking skills. He also earned a B.A. in Letters from The University of Oklahoma, reflecting his early interest in interdisciplinary studies combining the humanities with analytical thought. This diverse educational foundation has equipped Patrick with a unique perspective that he applies effectively across various sectors, from energy to venture capital.
Beyond his extensive professional experience, Patrick is deeply committed to the arts. He is a passionate supporter of contemporary painting, sculpture, and drawing. Patrick and his wife dedicate considerable time to exploring museums, galleries, and artists' studios, spanning both coasts and vibrant cities like Houston and Austin. This appreciation for art not only enriches his personal life but also inspires his professional activities, as he understands the importance of creativity and innovation in all fields.
Additionally, Patrick enjoys engaging in recreational activities such as golf and reading, particularly focusing on 20th-century history. These hobbies reflect his well-rounded personality and exemplify his belief in the value of continuous learning, both personally and professionally.
Achievements
- Co-Founder of CarboNexus: Plays a crucial role in a venture capital firm dedicated to decarbonization initiatives and sustainable investments.
- Managing Director at Energy & Minerals Group (2008-2018): Led numerous successful investments in the energy sector, contributing to the firm’s growth and the strategic direction of several influential companies.
- Board Member of Major Energy Companies: Actively served on boards including MarkWest Liberty, NGL Energy Partners, Medallion Midstream, Ferus Inc., Lodestar Energy, and High Sierra Energy, providing strategic oversight and guidance.
- Entrepreneurial Initiatives: Established Bear Energy and Tiger Midstream, showcasing a strong capacity for navigating the complexities of the energy market while identifying and capitalizing on profitable opportunities.
- Educational Background: Attained an M.B.A. from Rice University and a B.A. in Letters from The University of Oklahoma, reflecting a commitment to both business excellence and a broader understanding of cultural contexts.
- Supporter of the Arts: Engages actively in the arts community, illustrating a dedication to creativity and innovation beyond the confines of the corporate world.