The nickel mining industry in the US plays a crucial role in supplying this essential metal, often used in batteries, stainless steel, and electric vehicles. A mix of large multinationals and smaller specialized firms operate in this sector, focusing on mining, processing, and sustainable practices. Key regions include the Midwest and parts of Alaska, where rich deposits facilitate extraction. As technological advancements shape operations while meeting environmental demands, the industry is poised for growth, driven by the insatiable appetite for nickel in the EV market and renewable energy applications, making it an intriguing space for investment interest.


This article explores the top nickel mining investors in the US, which include venture capital firms, private equity groups, and corporate entities. Headquartered across major cities, such as New York and San Francisco, these investors range from large corporates to smaller niche firms. With years spanning from 1992 to 2016, they made significant 2024 investments in various nickel projects, shaping the industry's future. Companies like the Government of Canada and Resource Capital Funds illustrate how varying scales of financial support are pivotal for advancing nickel mining initiatives.


Top 16 Nickel Mining Investors in the US


1. Orion Resource Partners (USA) LP


Orion Resource Partners (USA) LP is a private equity investment firm based in New York, specializing in metals and materials. Founded in 2004, the firm provides a range of investment solutions, including resource royalties and mine finance, primarily targeting institutional investors. Orion Resource Partners focuses on addressing challenges in the metals sector and advancing sustainable economic growth through tailored financial strategies. Notably, they have been involved in significant transactions within the mining sector, including a $25 million investment in Horizonte Minerals, which is engaged in nickel mining. They have also participated in substantial funding rounds for companies like Capstone and Adriatic Metals, further showcasing their active role in the mining industry. Their diverse portfolio and strategic investments position them as a relevant player in the nickel mining space.


2. Government of Canada

  • Website: canada.ca
  • Type: Corporate
  • Headquarters: Canada, Kentucky, United States (USA)
  • Founded year: 1999
  • Headcount: 10001+
  • Number of deals in 2024: 137
  • LinkedIn: government-of-canada

The Government of Canada is a public entity that provides a wide range of services and information to Canadian citizens and residents, addressing various needs including employment, immigration, health care, and taxation. Founded in 1999, it operates through multiple departments and agencies to ensure access to essential services and support for individuals and businesses across the country. In the context of nickel mining, the Government of Canada has been involved in several significant transactions, providing grants to companies such as Canada Nickel Company, which raised $3,400,000, Glencore Canada with $11,000,000, and Rio Tinto with $8,499,399. Additionally, it supported Generation Mining with a grant of $566,049 and Fireweed Metals with $24,860,423. These transactions highlight the government's commitment to supporting the nickel mining industry in Canada.


3. Resource Capital Funds


Resource Capital Funds is a private equity firm based in Denver, Colorado, founded in 1998. The firm specializes in mining investments and partners with investors and mining companies to mobilize capital for various mining projects. They focus on sustainable practices and innovative technologies, catering to both investors seeking returns and mining firms needing funding for development and operations. Notably, Resource Capital Funds has been involved in several transactions relevant to nickel mining, including their acquisition of Norzinc in October 2022 for over $12 million, a company that has significant interests in nickel projects. Additionally, they participated in multiple funding rounds for Noront Resources, which also has nickel-related projects, indicating their active role in the nickel mining sector.


4. Crescat Capital

  • Website: crescat.net
  • Type: Corporate
  • Headquarters: Denver, Colorado, United States (USA)
  • Founded year: 2006
  • Headcount: 11-50
  • Number of deals in 2024: 5
  • LinkedIn: crescat-capital

Crescat Capital is an asset management firm based in Denver, Colorado, founded in 2006. The firm specializes in investment strategies that include hedge funds and separately managed accounts, focusing on macroeconomic themes and activist investments. Crescat Capital caters to both individual and institutional investors seeking to enhance their wealth through diversified portfolios. In recent years, Crescat has been actively involved in the mining sector, with notable transactions including investments in Fathom Nickel, a company focused on nickel exploration, and Electric Metals, which also operates in the mining space. Their participation in the financing of Tectonic Metals further demonstrates their commitment to the mining industry, indicating a strategic interest in companies that may have exposure to nickel and other critical minerals.


5. IFC - International Finance Corporation

  • Website: ifc.org
  • Type: Venture Capital
  • Headquarters: Washington, D.C., District Of Columbia, United States (USA)
  • Founded year: 1956
  • Headcount: 1001-5000
  • Number of deals in 2024: 107
  • LinkedIn: ifclinkedin

The International Finance Corporation (IFC) is a not-for-profit organization established in 1956, headquartered in Washington, D.C. It focuses on private sector development in emerging markets by providing investment, advisory, and asset management services to businesses and financial institutions. The IFC operates in over 100 countries, addressing poverty and promoting sustainable development. Among its notable transactions, the IFC signed a $60 million equity funding agreement with Sierra Rutile Limited, a rutile miner, to help the company double its production and extend its mine's life. This investment reflects the IFC's interest in the mining sector, which includes potential opportunities in nickel mining as the demand for nickel grows in various industries, including electric vehicles and renewable energy.


6. Y Combinator

  • Website: ycombinator.com
  • Type: Venture Capital
  • Headquarters: San Francisco, California, United States (USA)
  • Founded year: 2005
  • Headcount: 51-200
  • Number of deals in 2024: 802
  • LinkedIn: y-combinator

Y Combinator is a prominent startup accelerator and venture capital firm based in San Francisco, California, founded in 2005. It provides funding and mentorship to early-stage technology companies, helping entrepreneurs launch and grow their businesses through structured programs and resources like the Startup School. Y Combinator has successfully launched over 4,000 startups, making it a key player in the technology startup ecosystem. Notably, Y Combinator has invested in companies like Impossible Mining and Impossible Metals, which are focused on developing innovative technologies for the extraction of battery metals, including nickel. These investments highlight Y Combinator's engagement in sectors that are critical for the future of electric vehicles and sustainable energy, positioning it as a relevant investor in the nickel mining context.


7. Nebari Holdings

  • Website: nebari.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 2016
  • Headcount: 1-10
  • Number of deals in 2024: 4
  • LinkedIn: nebariholdings

Nebari Holdings is a private equity firm based in New York, specializing in the mining sector. Founded in 2016, the firm provides creative financing solutions to both public and private mining companies, helping them navigate the complexities of funding and investment management. With a team of experienced professionals, Nebari focuses on accelerating growth for their clients through tailored financial structures. In recent transactions, Nebari has been involved in significant financing activities, such as providing a $37 million financing facility to Lion One Metals, which included a $35 million senior secured loan and a $2 million equity investment. They also participated in debt financing for companies like Ascot Resources and Cyprium Metals, indicating their active role in supporting mining operations. While the specific transactions do not highlight nickel mining, their expertise in the mining sector positions them as a potential investor in nickel mining ventures.


8. Breakthrough Energy


Breakthrough Energy is a not-for-profit organization founded in 2015, based in Kirkland, Washington, dedicated to accelerating the transition to a net-zero economy. They support innovative technologies and advocate for policies that promote clean energy solutions. In 2024, they participated in a significant Series C funding round for KoBold Metals, raising $537 million, and previously invested in a Series B round for the same company, which raised $195 million in 2023. KoBold Metals is an AI-powered mineral exploration company that focuses on sustainable mining practices, including the exploration of nickel resources. Additionally, Breakthrough Energy has invested in Boston Metal, which is working on emissions-free steel production, further aligning with their mission to support clean energy technologies. These transactions indicate their interest in companies that may intersect with the nickel mining industry, particularly in the context of sustainable practices.


9. Liquid 2 Ventures

  • Website: liquid2.vc
  • Type: Venture Capital
  • Headquarters: San Francisco, California, United States (USA)
  • Founded year: 2015
  • Headcount: 1-10
  • Number of deals in 2024: 91
  • LinkedIn: liquid-2-ventures

Liquid 2 Ventures is a venture capital firm based in San Francisco, California, founded in 2015. The firm specializes in investing in technology startups at the pre-seed and seed stages, as well as growth-stage companies. They provide capital, mentorship, and access to a vast network of industry insiders to help founders navigate their entrepreneurial journeys. Notably, Liquid 2 Ventures has participated in several transactions relevant to the nickel mining context, including investments in Impossible Mining and Impossible Metals, both of which are focused on the extraction of battery metals, including nickel, for electric vehicles. Additionally, their investment in AstroForge, a startup aiming to mine asteroids for metals, reflects their interest in innovative mining solutions that could encompass nickel extraction. Their diverse portfolio and focus on emerging technologies position them as a significant player in the evolving landscape of mining and battery metal supply chains.


10. The Electrum Group


The Electrum Group LLC is a private equity investment adviser based in New York, specializing in strategic investments in precious and base metals. Founded in 2012 and led by Thomas S. Kaplan, the firm leverages its extensive expertise in the metals and mining sector to provide investment management services. In 2024, The Electrum Group was involved in significant transactions within the nickel mining industry, including two rounds of post-IPO equity financing for Nickel Creek Platinum, raising a total of approximately $777,569. Additionally, they participated in a major financing round for Trilogy Metals, showcasing their commitment to investing in nickel mining opportunities. These transactions highlight their active role in the nickel sector, reinforcing their position as a relevant investor in this industry.


11. Dcvc

  • Website: dcvc.com
  • Type: Venture Capital
  • Headquarters: Palo Alto, California, United States (USA)
  • Founded year: 2011
  • Headcount: 11-50
  • Number of deals in 2024: 28
  • LinkedIn: data-collective

DCVC is a venture capital firm based in Palo Alto, California, founded in 2011. The firm specializes in deep tech and life sciences, focusing on innovative startups that address significant global challenges, particularly in climate and healthcare. In 2024, DCVC participated in a seed funding round for Tidal Metals, which raised $8.5 million, indicating their engagement in the nickel mining sector. Additionally, they have been involved in other transactions such as funding for Alta Resource Technologies and Plotlogic, although these are not directly related to nickel mining. Their model emphasizes long-term relationships with founders and leveraging extensive experience in technology and investment to support groundbreaking solutions.


12. Auramet International

  • Website: auramet.com
  • Type: Corporate
  • Headquarters: Teaneck, New Jersey, United States (USA)
  • Founded year: 2004
  • Headcount: 11-50
  • Number of deals in 2024: 1
  • LinkedIn: auramet-international

Auramet International is a corporate investor based in Teaneck, New Jersey, specializing in metal trading and financial services, particularly in precious metals. Founded in 2004, Auramet has established itself as a provider of tailored financial solutions for clients in the mining and manufacturing sectors. In recent years, Auramet has been involved in significant transactions with Canada Nickel Company, including a secured loan facility of US$12 million in September 2023, which was aimed at supporting working capital. Additionally, they participated in multiple debt financing rounds for Canada Nickel Company, raising $15 million in June 2024 and $10 million in September 2022 and December 2021. These transactions highlight Auramet's active role in the nickel mining industry, demonstrating their commitment to supporting companies within this sector.


13. Caterpillar Inc.

  • Website: caterpillar.com
  • Type: Corporate
  • Headquarters: Irving, Texas, United States (USA)
  • Founded year: 1925
  • Headcount: 10001+
  • Number of deals in 2024: 1
  • LinkedIn: caterpillar-inc

Caterpillar Inc. is a leading manufacturer of construction and mining equipment, providing a wide range of products including articulated trucks, excavators, and engines. Founded in 1925 and based in Irving, Texas, the company serves businesses in the construction and mining industries, helping them operate efficiently with high-quality machinery. Caterpillar is committed to innovation and sustainability, ensuring that its products meet the evolving needs of its customers. In recent years, Caterpillar has participated in significant transactions related to the mining sector, including investments in MineSense Technologies, which raised multiple funding rounds (Series B, C, and D) to develop technology that enhances the efficiency of mining operations. Additionally, Caterpillar's investment in Nth Cycle, a company focused on sustainable metal recovery, further demonstrates their interest in the mining industry, including nickel-related applications. These activities highlight Caterpillar's strategic involvement in the mining sector, making them a relevant player in the nickel mining context.


14. Crede CapitalGroup

  • Website: credecapital.com
  • Type: Corporate
  • Headquarters: Los Angeles, California, United States (USA)
  • Founded year: 2009
  • Headcount: 11-50

Crede Capital Group is an investment firm based in Los Angeles, California, founded in 2009. The firm specializes in direct equity investments in small-cap public companies and has committed over $900 million in capital across various sectors, including life sciences and technology. Notably, Crede Capital has been involved in significant transactions in the mining sector, particularly with Amur Minerals, where they provided £12.5 million in funding for the Kun-Manie nickel-copper sulphide project in Far East Russia. This investment demonstrates their capability and willingness to engage in the nickel mining industry, alongside their broader investment strategy that does not seek control or board positions in the companies they fund.


15. Advantage Capital


Advantage Capital is a venture capital firm based in New Orleans, Louisiana, founded in 1992. The firm specializes in providing equity and debt financing to small businesses, with a focus on supporting entrepreneurs in underserved communities. Their investment strategy includes flexible capital solutions aimed at helping businesses grow and thrive. Notably, Advantage Capital has been involved in transactions such as the debt financing for Missouri Cobalt, a company engaged in nickel mining, which highlights their engagement in the mining sector. Additionally, they have participated in various other financing activities, including debt financing for CiDRA and SpecTIR, and post-IPO equity for Conifex Timber, showcasing their diverse investment portfolio.


16. Soma Capital

  • Website: somacap.com
  • Type: Venture Capital
  • Headquarters: San Francisco, California, United States (USA)
  • Founded year: 2015
  • Headcount: 11-50
  • Number of deals in 2024: 41
  • LinkedIn: soma-capital

Soma Capital is a venture capital firm based in San Francisco, California, founded in 2015. The firm specializes in early-stage investments across various sectors, including technology and finance, and has a strong track record of supporting innovative startups. With a portfolio that includes over 20 unicorns, Soma Capital provides capital and resources to help entrepreneurs scale their businesses. Notably, Soma Capital has made significant investments in companies relevant to the nickel mining industry, such as Impossible Metals, which is developing underwater robotic vehicles to collect battery metals, and AstroForge, a startup focused on asteroid mining for valuable metals. These investments highlight Soma Capital's commitment to addressing the increasing demand for battery metals, including nickel, essential for electric vehicles and sustainable technologies.



Nickel Mining Insights: Key Investors in the US


InvestorHeadquarterSizeFoundedDeals 2024
Orion Resource Partners (USA) LPNew York, New York, United States (USA)51-20020043
Government of CanadaCanada, Kentucky, United States (USA)10001+1999137
Resource Capital FundsDenver, Colorado, United States (USA)51-20019982
Crescat CapitalDenver, Colorado, United States (USA)11-5020065
IFC - International Finance CorporationWashington, D.C., District Of Columbia, United States (USA)1001-50001956107
Y CombinatorSan Francisco, California, United States (USA)51-2002005802
Nebari HoldingsNew York, New York, United States (USA)1-1020164
Breakthrough EnergyKirkland, Washington, United States (USA)51-200201538
Liquid 2 VenturesSan Francisco, California, United States (USA)1-10201591
The Electrum GroupNew York, New York, United States (USA)1-1020123
DcvcPalo Alto, California, United States (USA)11-50201128
Auramet InternationalTeaneck, New Jersey, United States (USA)11-5020041
Caterpillar Inc.Irving, Texas, United States (USA)10001+19251
Crede CapitalGroupLos Angeles, California, United States (USA)11-5020090
Advantage CapitalNew Orleans, Louisiana, United States (USA)51-20019925
Soma CapitalSan Francisco, California, United States (USA)11-50201541


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