Spotlight Blog: Frank Ronchetti

Foss & Company is comprised of a group of experienced tax credit professionals, representing a depth of knowledge within their respective fields. In this blog series, we highlight different Foss & Company team members to shine a light on the diverse and dedicated people that help make us who we are.

Frank Ronchetti joined Foss & Company in February 2025 as Vice President of Investments. He works with banks, insurance companies, large corporations and private financial investors to generate low risk returns and reduce tax liabilities through the funding of renewable energy and historical real estate development projects. Frank’s passion for helping stop climate change led him to join Foss & Company, where he can identify new sources of capital to fund clean energy projects.

Prior to joining Foss, Frank was the Chief Financial Officer for a series of venture capital-backed, early-stage technology companies, raising capital from both financial investors and corporate strategic partners.  Before that, he spent 15 years in Europe, investing in, lending to and raising capital for companies with private equity and venture capital backing.  Frank has a bachelor’s degree in economics from Stanford University and an MBA from The Anderson School at UCLA.

To learn more about Frank, read our latest Spotlight blog series installment:

How did you get started in the tax credit investing industry?  

Over the past ten years or so, I have become increasingly concerned about climate change as one of the greatest challenges facing mankind.  Two years ago, I decided to dedicate myself to joining the fight against global warming.  Since I’ve spent most of my career in finance, raising capital for and investing in new ventures, getting into renewable energy finance made sense.  As I explored the field, I learned a lot about tax equity, and Foss & Company came up again and again as a leader in the space. So, I got started in the tax credit investing industry just a couple of months ago, as the logical next step in my journey.

When did you join Foss & Company and what interested you about the company? 

I joined Foss & Company in February 2025, after a search to find a company that was a leader in renewable energy finance.  After getting to know the team, I appreciate the collegial atmosphere of the company, where everyone works to support each other’s success.

What do you find important or interesting about tax credits?

Tax credits are one approach governments use to encourage certain activities, though some argue they may be less efficient than direct subsidies. However, direct subsidies often require governments to select specific projects to fund, a process that can be challenging and subject to inefficiencies. By contrast, tax credit programs shift project selection and due diligence to the private sector, potentially leveraging market forces to allocate resources more effectively.

What is one thing people may not know about tax credit Investments?

I initially thought that once the Inflation Reduction Act (IRA) created tax credit transferability, the traditional tax equity market would go away.  However, there are significant benefits that come out of a tax equity transaction that are not captured in a tax credit transfer. Traditional tax equity brings with it rigorous due diligence, long-term partnership incentives and a deeper level of engagement that can strengthen a project’s financial structure and operational success.

How has the tax credit investing industry evolved and where do you see it going?

I think it’s anyone’s guess what the new administration will do, but I’m optimistic that bipartisan support for tax credits and the economic development they bring will keep tax credits as an important tool for the implementation of government policy.

Any other insights you would like to add?

I’m excited about new technology and utility business model innovations that will change the way the transmission grid works. These innovations could create much more grid capacity without building more power lines.  That could quickly and dramatically reduce the interconnection queue and open the flood gates for more renewable energy projects.

Those interested in learning more about Frank, can contact him at fr***@fo*******.com