On May 10, 2022, Altira Group LLC, a venture capital firm focusing on energy technology, sold its portfolio company, ThoughtTrace, Inc., to Thomson Reuters, a leading business information services provider. ThoughtTrace is known for its AI-based software that interprets complex contracts, significantly improving the extraction of insights from contractual documents across various industries. ThoughtTrace's platform was initially developed for the oil and gas sector, where it provided a means to rapidly and accurately analyze extensive contract data. The software's ability to read and understand documents at scale allowed users to quickly identify specific clauses and obligations within a massive volume of paperwork. Sean Ebert, an Altira partner and board member of ThoughtTrace, lauded CEO Nick Vandivere and his team for transforming their AI software into a critical intelligence tool. Ebert also highlighted the integral role of Altira’s oil and gas limited partners in ThoughtTrace’s development and success, which resulted in competitive advantages and a higher return on investment. Altira Principal J.P. Bauman emphasized their ongoing strategy to invest in technology innovators that offer sustainable competitive advantages to the energy and industrial sectors. He pointed out that their model provides portfolio companies with access to their oil and gas operating partners, reducing risks and accelerating growth. The legal advisors for the transaction were Cooley for Altira Group and Kastner Gravelle for ThoughtTrace. Although the terms of the sale were not disclosed, the deal marks a significant move for Altira in advancing its investment portfolio within the energy technology landscape.