Overlay Capital

Overlay Capital is a private investment firm founded in 2022 with a specific thesis: deploy structured capital into energy, waste, and the built environment at the stages where financing is scarce but structural change is already underway. The firm does not chase narratives. It targets inflection points where technology is collapsing cost curves and market pricing has not yet caught up, particularly in late-stage energy development finance where traditional lending has pulled back.

For family offices seeking exposure to real assets and infrastructure at the frontier of energy transition, Overlay offers three distinct access points:

• Energy Finance: structured lending to solar, battery, and generation developers, including interconnection deposit funding, safe harbor finance, and PPA deposit facilities
• Fusion and Firm Power: equity investments in fusion reactor platforms including Zap Energy, Avalanche Energy, Xcimer, and Commonwealth Fusion Systems
• Waste and Materials: capital into technology-enabled material recovery platforms such as Sortera, AMP, and Molg

The firm has financed more than 44 energy projects across 10 states and 7 ISOs, with its energy finance platform scaling to over three gigawatts of generation assets financed by 2025. In 2026, Overlay launched two flagship fund vehicles: OCIP2 for structured infrastructure finance and OC WAM Fund I for waste and materials. The team is headquartered in Alpharetta, Georgia, with a second office in Denver.

Family offices drawn to illiquid, long-duration infrastructure with a climate angle will find Overlay’s vertical specialization and proprietary deal access relevant. The firm does not disclose fund minimums, fee structures, or target returns publicly, so prospective investors must engage directly. Given its 2022 founding and still-developing track record, this is a fit for principals willing to back an emerging manager with a differentiated niche rather than an established multi-billion-dollar infrastructure platform.