New clean energy fund launching, angel and early stage
Posted by: in Private Industry NewsFiled under: Venture capital industry, Private equity industry, Investments
The CalCEF Clean Energy Angel Fund I, LP announced today that it has secured initial investments for its fund that focuses on “earning market-based returns” on early-stage clean energy companies.
The CalCEF Fund investors include several limited partners as well as private and institutional investors. Founded by California Clean Energy Fund (CalCEF), the Angel Fund strives to fund the developments of new clean energy technologies, a sector that accounted for less than 4% of total venture capital funding in 2007.
A primary focus will be on giving very early stage companies a small boost to be more attractive to later stage venture capital funding. It’s probably a safe bet that some private equity will end up in here as it has in so many other competing deals.
Susan Preston is General Partner of the Angel Fund, and she believes there is a significant funding gap for this industry and really wants to push new clean energy technologies in California and possibly nation-wide through the Angel Fund. Interestingly enough, no size of deals were listed, nor was the total amount of this sub-fund. As it is an “angel” stage, many such investments may run even under $1 million.
After seeing public solar companies flourish with exponential returns in current years, it’s no huge surprise that more and more money will work its way to renewable energy, substitute energy, clean energy, and even less-dirty energy.
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