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The Venture Codex

Divergent Capital

477 Madison Avenue, 6th Floor, New York, 10022, United States

Overview

Divergent Capital is a venture capital firm providing financial services. It is a private equity financing that is provided by venture capital firms or funds to startups, early-stage, and emerging companies that have been deemed to have high growth potential or which have demonstrated high growth.

Total investments
12
Lead investments
2
Investments · 12mo
3
Active investors
2

Sector focus

  • Finance
  • Financial Services
  • Venture Capital
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Investment portfolio

  • Enera

    Participated · Seed · Jun 2026

    Enera builds an AI-native operational infrastructure suite for electric vehicle charging networks that includes a Control Room data-ingestion engine and automated white-labeled helpline agents. The Control Room ingests driver support calls, telemetry signals and backend logs to identify where the charging experience is breaking down at scale. Bespoke AI Support Agents are then deployed to take helpline calls, troubleshoot live telemetry anomalies, proactively monitor the network and reach out to drivers before issues arise. The company offers 24/7 instant technical support to drivers and aims to reduce failed charging sessions. Enera is led by co-founders Nicholas Marquardt (CEO) and Arnaldo Vera and operates from London and Barcelona. Following its $2M Pre-Seed raise, the company plans to expand active pilots with UK CPOs and accelerate broader European expansion.

  • Thea Energy

    Participated · Series B · May 2026

    Thea Energy builds pixel-inspired rectangular magnets and software to generate and fine-tune stellarator magnetic fields, using many smaller planar coils to shape plasma confinement. The company says its approach lets software control arrays of regular magnets to create complex stellarator fields, and it has built dozens of full-scale magnet iterations in its Jersey City lab. Thea originally spun out of the Princeton Plasma Physics Laboratory and has iterated its design to include a set of larger magnets alongside more than 300 smaller coils that fine-tune the plasma. With $130 million in total private funding after the new Series B, Thea is scaling magnet manufacturing and plans to begin construction of its Eos demonstration reactor next year. The company aims to complete Eos by 2030 and bring a commercial device, Helios, online in 2034.

  • Opto Biosystems

    Participated · Seed · Nov 2025

    Founded in 2022 by Cambridge-trained researchers Ben Woodington and Elise Jenkins, San Francisco–based Coherence Neuro decodes the body’s electrical patterns to understand and correct disease states. Its flagship device, SOMA-1, continually records neural activity and delivers precise stimulation, creating a bi-directional, closed-loop therapy that aims to nudge tumorous tissue back toward healthy function. Each deployed device feeds data into what the company calls the world’s largest disease-focused dataset, allowing the system to learn and improve with every patient. Coherence frames cancer as a system-level error rather than an external invader, seeking to replace aggressive treatments like surgery and chemotherapy with continuous, gentler neuromodulation. The company plans to begin first-in-human trials next year, using its newly secured capital to validate safety and efficacy. To date, it has raised a $10 million seed round to fund these efforts and further develop its data-driven platform.

  • PHNX Materials

    Led · Seed · Apr 2025

    PHNX Materials has developed a process to strip sulfur and aluminum from coal fly ash pulled from landfills so the ash can be used as a cement substitute in concrete mixes. By prepping low‑quality ash, PHNX aims to unlock a larger supply of fly ash for concrete makers, who can use up to 30% ash to replace cement and lower carbon intensity. The company plans to sell cleaned ash to concrete producers and recover sulfur, aluminum and other compounds for sale to relevant industries; it is also exploring extraction of rare earth elements. PHNX’s approach targets material saved in the roughly 843 fly ash landfills in the U.S. and responds to shrinking ash availability after coal plant closures reduced coal’s share of U.S. electricity from 51% to 15%. The startup frames its work as a scalable way to decarbonize concrete production, noting that each ton of cement produced in the U.S. emits about 0.8 tons of CO2.

  • Baton

    Participated · Series A · Jan 2025

    Baton operates a marketplace for small- and medium-sized business acquisitions, offering tools that help sellers prepare listings and buyers underwrite deals quickly. The platform provides a free valuation and Private Listing, and paid plans that deliver reconciled financials, a native data room, and guided support through negotiations. Buyers can browse listings across all 50 states and benefit from higher-quality, verified data compared with traditional listing sites. Baton also partners with lenders, accountants, lawyers, and other professionals to streamline each stage of a transaction. The company reports a 10x higher success rate than previous top solutions, a 70% close rate for sellers, and claims 50% cost savings versus traditional alternatives. With new funding, Baton plans to accelerate growth of its marketplace to support more small business owners through upcoming ownership transfers as baby boomers retire.

Team

  • Lucy Wang

    Co-Founder and General Partner

    LinkedIn
  • Katie Shea

    Co-Founder & Managing Partner

    LinkedIn