The number of investors in clean technology is growing fast. Below is a list of some investors with funds focused on clean tech.
3i
3i has evolved into an international private equity firm, with €12.3bn of assets under management. Areas of focus are buyouts, growth capital, infrastructure and quoted private equity (“QPE”). The company invests across Europe, North America and Asia with interests in oil, gas and power and renewable energy technology.
Web: http://www.3i.com/
Ambienta
Ambienta Sgr was authorised by the Bank of Italy on 5th November 2007 and is one of the most important Italian initiatives for investment in the environmental sector. The management company is owned 70% by the management team, 20% by the Intesa Sanpaola group and the remaining 10% by a group of leading Italian entrepreneurs who have invested in the project through their industrial groups or as private individuals. Ambienta’s mission is to invest in value creating environmental assets, for the benefit of investors, for the benefit of the companies that it invests in and for the benefit of the environment.
ArcelorMittal Clean Technology Venture Capital and Carbon Fund
ArcelorMittal is the world’s largest integrated metals and mining company, with over 310,000 employees in more than 60 countries. It is a leader in all major global markets, including automotive, construction, household appliances and packaging, with leading R&D and technology, as well as sizeable captive supplies of raw materials and outstanding distribution networks. An industrial presence in over 20 countries across four continents exposes the company to all the key steel markets, from emerging to mature.
ArcelorMittal will be working with leading venture capital firms – including Bessemer Venture Partners, Khosla Ventures, and Kleiner Perkins Caufield & Byers – to help finance clean technology innovation through the clean technology Venture Capital Fund.
The objective of the fund is to support the commercialization of clean energy technologies, which will help in the reduction of greenhouse gas emissions. In particular, the fund will focus on ventures that have relevance for the steel industry and its customers. The fund is managed by a team from ArcelorMittal Flat Carbon Americas (FCA) and its investment decisions are taken by a six person Investment Committee chaired by Lou Schorsch, CEO of ArcelorMittal FCA.
Web: http://www.arcelormittal.com/index.php?lang=en&page=49&tb0=316&tblng=1
Capricorn Venture Partners
Capricorn is an independent pan-European manager of venture capital funds and has longstanding industrial and venture capital experience. Capricorn Venture Partners recently closed its third consecutive venture capital fund, the Capricorn Cleantech Fund, at € 112 million. This fund invests in European growth companies developing innovative breakthrough technologies in the fields of renewable energy and energy efficiency, water purification and re-use, bio based material conversion and biorefinery platforms, clean air, climate change, green chemistry and advanced materials, materials recovery and recycling.
Carbon Connections
Carbon Connections is based at the University of East Anglia, recognised as a world leading research centre for environmental sciences. It already has a well established Carbon Reduction programme (CRed), which was set up as a direct result of the UEA’s focus on outreach activity: enabling research to achieve results. Carbon Connections is an investment body, set up by the Higher Education Funding Council for England (HEFCE) to seek out, encourage and invest in carbon-saving innovation either through technological advance or behavioural change.
Web: http://www.carbon-connections.org
Catapult Venture Managers
Catapult specialises in providing Equity Capital for businesses requiring between £200k and £2m. Catapult provides a full range funding requirement from early stage, development capital to MBO/MBIs. Since 1999 it has invested in over 64 companies, providing initial and further follow on requirements. It invests across a range of funds and currently has £80m under management.
Web: http://www.catapult-vm.co.uk
Chrysalix Energy
Chrysalix Energy invests in and supports compelling technologies and entrepreneurial management teams that address the changing demands of the global energy industry.
Founded in 2001, Chrysalix actively works with its clients to support them with deep industry and technical knowledge, management and board assistance, organized networking with industrial and financial partners, management of intellectual property, and direct access to capital.
Investors in the Chrysalix Energy Partnerships include Ballard Power Systems, BASF Venture Capital, BOC, Citigroup, Consensus Business Group, Delta Lloyd, Essent, Kuwait Petroleum Corporation, Lexington Partners, Mitsubishi Corporation, Robeco, Shell Hydrogen, Teachers’ Private Capital and West LB Mellon Asset Management.
Climate Change Capital
Climate Change Capital Ltd (CCC) is an investment manager and advisor specialising in the opportunities created by the global transition to a low carbon economy. CCC manages funds with US$1.5 billion of capital commitments focused on the asset classes Carbon Finance, Cleantech Private Equity, Property and Energy Infrastructure. CCC’s Advisory group provides financial, strategic and policy advice to energy-intensive industries, financial institutions, clean technology companies and governments.
CCC’s €200 million European Cleantech Private Equity Fund invests expansion capital in high growth, later stage companies and buy outs in the areas of clean power, clean transport, energy efficiency, waste recovery and water.
Web: http://www.climatechangecapital.com/home.aspx
Credit Suisse Securities
Credit Suisse Securities (Europe) Limited, also known as CSFB Europe, provides investment banking and securities brokerage services to institutional, corporate, government, and high-net-worth clients. The firm offers mergers and acquisitions, private placement of debt and equity, and funds raising advice. Credit Suisse Securities (Europe) Limited also structures and manages the transactions in equity and debt and foreign exchange capital markets. It serves energy, financial institutions, healthcare, media and telecommunications, mining, real estate, retail, and technology sectors. The firm is based in London, United Kingdom.
Web: http://www.credit-suisse.com
Demeter
Demeter Partners is a Paris-based investment capital firm certified by the Autorité des marchés financiers (stock market authority) since July 2005, majority owned by the management team. The focus of the company is ondevelopment capital, working with companies as they grow in the following sectors:
– eco-industries (water, air and waste treatment, site clean-up, etc.),
– eco-energies (energy efficiency, renewable energies, etc.),
As part of its international strategy, the organisation has developed partnerships with foreign funds (English, German and Spanish) which are involved in Demeter’s sectors and is are also a member of international networks of investors specialized in “clean technologies”.
The mission of Demeter Partners is to raise and manage other sector-based investment capital funds differentiating themselves from Demeter either through their different geographic position or the phase of development of the companies, or by FCPI funds open to the public.
Web: http://www.demeter-partners.com
E Synergy
E-Synergy was founded in 1999 by four technology entrepreneurs as an independent venture capital firm focusing on early stage investments. The founding directors have over 50 years experience themselves as CEOs of technology development and licensing companies. E-Synergy also runs a business angel network ANGELNET and an Investment Readiness Programme in conjunction with the Carbon Trust, London Development Agency and the European Space Agency.
Web: www.e-synergy.com
Earlybird
Earlybird Venture Capital was established in 1997 and is one of the most successful European venture investors. Currently, Earlybird manages over 400 million euros of assets for more than 20 international investors. Earlybird invests in innovative, fast growing companies with outstanding management teams and high growth potential on international markets.
Earlybird’s investment focus is on innovative companies within the sectors software, semi-conductor technology, information and communication technology, internet based services, cleantech (environmentally friendly technologies) and medtech. Earlybird’s portfolio currently includes more than 22 companies in seven countries (Germany, Switzerland, Sweden, UK, USA, Italy and France). Since inception Earlybird has invested in more than 56 companies.
EEA
EEA Fund Management was founded in August 2003 by Simon Shaw to manage UK equity portfolios and energy and environmental assets. Five years later the group has over $1.7 billion of assets under management. The company manages three open ended investment funds now valued at over £130m in total. EEA has been involved in environmental asset management since its launch in 2003, through its mandate to act as investment adviser to the AIM listed Climate Exchange PLC. Climate Exchange raised £30m to finance the Chicago Climate Exchange and the European Climate Exchange, the leading regional exchanges for GHG emissions trading. Additionally, the vehicle has invested in biofuel and renewable energy ventures.
Web: http://www.eeafm.com
EnerCap Capital Partners
EnerCap Capital Partners specialises in private equity investments in renewable energy projects across Central, Eastern and South-Eastern Europe. The EnerCap Power Fund L.P. has been created to capture the exponential growth in renewable energy projects expected in the region.
EnerCap Capital Partners has an extensive pipeline of diverse investment projects. Behind the Fund stands a management team whose partners and investment committee members represent over 20 years of experience in private equity, up to 15 years of experience in local investing, and comprehensive energy industry expertise. The management team further leverages the support of an extensive network of local developers, operators, investment bankers and advisers.
Environmental Technologies Fund
ETF are normally a lead investor, active on the boards of companies they support. Focused primarily on European companies that already have some revenue and have great growth prospects, although ETF have the ability to invest both at an earlier and a later stage. Typically ETF support a business through more than one investment round, committing €5m-12m overall.
Typically investing in companies that have the following attributes:
- Huge growth prospects – typically because of meeting a critical customer need
- One or more great customers
- The potential to lead their market, as they define it
- Sustainable competitive advantage – typically because of some unique technology
- The key individuals have demonstrable integrity and execution capability
- A business model that is highly scalable and relatively capital efficient
- Probably not in a sector already crowded by other venture-backed companies
Typically focusing within the high growth segments of:
- Energy efficiency and power conservation
- Renewable energy generation
- Material sciences and their industrial applications
- Environmental services, waste reduction and recycling
- Water – treatment and conservation
- Transportation
First Reserve Corporation
First Reserve Corporation is the oldest and largest private equity firm specialising in the energy industry. Founded in 1983, First Reserve was the first private equity investment firm to actively pursue building a broadly diversified global investment portfolio of energy companies. Since 1992, First Reserve has raised over 6.25 billion pounds sterling (US $12.5 billion) for its buyout-focused funds. The firm is currently investing from its most recent fund which closed in 2006 at approximately 4 billion pounds sterling (US $8 billion). Throughout its 25-year history, the strong franchise that the firm has developed by investing exclusively in the energy industry has served as a competitive advantage for First Reserve.
Foresight Group
Foresight Group is a leading alternative asset manager focused on investing in European unquoted companies across a number of key sectors including environmental infrastructure and technology. Foresight Group currently manages around £180 million across a number of funds. These include The Foresight UK Sustainable Investment Fund, a £22.5 million EIS (Enterprise Investment Scheme) fund which focuses on investments in environmental infrastructure, and four Venture Capital Trusts (VCTs).
Web: http://www.foresightgroup.eu
Foursome
Foursome Investments Limited is a London-based investment management business specialising in early and growth stage venture capital and private equity investments. Since its inception in 1998, Foursome has focused on environmental and clean technology growth capital investments, as well as backing innovative early stage businesses with a disruptive offering.
Web: http://www.foursome.co.uk
Generation Management
Generation is an independent, private, owner-managed partnership with offices in London and New York. Generation’s investment approach is based on the idea that sustainability factors—economic, environmental, social and governance criteria—will drive a company’s returns over the long term. Generation has built a global research platform to integrate sustainability research into fundamental equity analysis. The company focuses on key drivers of global change, including climate change and environmental degradation; macroeconomics, poverty and development; water and natural resource scarcity; pandemics and healthcare; and demographics, migration and urbanization.
Web: http://www.generationim.com
Good Energies
Good Energies is a leading global investor in renewable energy and energy efficiency industries. The firm invests in solar, turbine-based renewables, green building technologies and other emerging areas within clean energy. Guided by the “3-P” principle of People-Planet-Profit, Good Energies looks for meaningful, long-term investments in companies with outstanding growth potential. The firm’s mission is to accelerate the global transition to a low-carbon economy.
Founded in 2001, Good Energies manages the renewable energy portfolio of COFRA, a family owned and managed group of companies. The firm operates globally from offices in London, New York, Toronto, Washington, D.C. and Zug, Switzerland. Good Energies’ annual investment budget is EUR 350 million (US$ 500 million) and its current portfolio has a market capitalisation of more than EUR 3 billion (US$ 4.5 billion).
Web: http://www.goodenergies.com/
HgCapital
Established in 2000, HgCapital is a leading investor in the European private equity market. It is the successor to Mercury Private Equity (founded in 1985), which was acquired by Merrill Lynch in 1997. In December 2000, Mercury Private Equity staff acquired the business from Merrill Lynch and renamed it HgCapital.
HgCapital has funds under management of €2 billion.
HgCapital services over 200 institutional clients and manages HgCapital Trust plc, an investment trust listed on the London Stock Exchange that participates in all HgCapital’s investments.
Since 1985, the company has invested and worked with a broad range of companies and managers, successfully tackling a wide array of challenges. These challenges include public-to-private leveraged buy-outs, management buy-ins, turnarounds, operational improvement initiatives and, of course, scaling up for fast growth. HgCapital has interests in renewable energy projects.
IBB Beteilgunsgesellschaft – VC Fonds Berlin
The VC Fonds Technologie Berlin GmbH was set up as a joint initiative of the Investitionsbank Berlin (IBB) and the State of Berlin. It is co-financed by the European Regional Development Fund (ERDF).
The VC Fonds Technologie Berlin is focused on investments in young technology-related companies located in Berlin.
Up to€ 1.5m can be invested per financing round with a limit of€ 3m per company.
The funds provided need to be used for the development and subsequent market launch of innovative new products or services. Both equity and mezzanine financing can be mobilised.
Icos Capital
Icos Capital is an Amsterdam-based Fund Manager of closed end venture capital funds, with a focus on cleantech. The investment team has extensive experience of successfully investing in the next generation of global businesses.
ICOS Capital recently announced that it has invested in ReSteel, a European base metals recovery company which specialises in using technology to recover high quality metals from small and difficult to separate scrap material. The funding will help ReSteel expand across Europe. A Coller IP Management team, led by COO Jim Asher, provided due diligence for the investment.
Web:http://www.icoscapital.com
Imperial Innovations
Imperial Innovations combines the activities of technology transfer, company incubation and investment. Its goal is to bring valuable ideas to market either by building businesses or licensing to industry It offers support to clean tech developers through the Carbon Trust’s Incubator Scheme.
Web: http://www.imperialinnovations.co.uk
Kohlberg Kravis Roberts
KKR is a leading global alternative asset manager with two primary business segments: private equity and fixed income KKR specializes in large, complex buyouts. KKR has more than 500 employees and offices in New York, Menlo Park, San Francisco, Houston, London, Paris, Hong Kong, Beijing, Tokyo, and Sydney.
In partnership with the Environmental Defense Fund (EDF), KKR established a first-of-its-kind Green Portfolio Project. KKR and EDF will work together to measure and improve the environmental performance of companies within KKR’s U.S. portfolio, as well as KKR itself, similar to the way KKR drives operational improvement.
Web: http://www.kkr.com/company/focus.cfm
Leaf Clean Energy
Leaf Clean Energy Company was incorporated in the Cayman Islands on 14th May 2007 for the purpose of acquiring interests in, owning, operating and managing clean energy companies and projects including renewable energy projects, and other projects that create environmental benefits through greenhouse gas emission reductions.
Its investing strategy is to achieve long term capital appreciation primarily through privately negotiated acquisitions of interests (principally equity but also equity related and subordinated or mezzanine debt securities) in both projects and companies which own assets or participate in the clean energy sector as well as through the generation and commercialisation of carbon credits. Initially thecompany intends to acquire interests in companies located in North America, although other regions may also be considered. The company intends to invest fully the net proceeds of the placing within 18 months of Admission. The company will target an overall pre-tax internal rate of return on each project of 20 per cent.
http://www.leafcleanenergy.com
Lime Rock Partners
Established in 1998, Lime Rock manages $3.5 billion of private capital for investment in the energy industry through Lime Rock Partners, investors of growth capital in energy companies worldwide, and Lime Rock Resources, acquirers and operators of oil and gas properties in the United States. With $3.0 billion under management, Lime Rock Partners is a creative, value-adding, and long- term investor of growth capital in exploration and production, energy service, and oil service technology companies worldwide. From locations in Aberdeen, Scotland; Houston, Texas; and Westport, Connecticut, the Lime Rock Partners team brings together a global network of relationships, deep interdisciplinary expertise in finance and energy company operations, and a strong track record of value creation.
Low Carbon Accelerator
Low Carbon Accelerator is a closed-ended investment company, which listed on the Alternative Investment Market of the London Stock Exchange (AIM) in October 2006, raising gross proceeds of £44.5 million. The company’s mission is to provide the capital to accelerate the growth of businesses with products and services that will deliver immediate reductions in carbon dioxide emissions. Low Carbon Accelerator’s investment focus is on businesses in the UK, Europe and North America providing products and services in clean energy, cleaner fuels, energy efficiency and building sectors. The fund is managed by Low Carbon Investors Ltd, an experienced management and advisory team with strong sector knowledge, track records of delivering growth and extensive networks of contacts in relevant technology and business sectors.
http://www.lowcarbonaccelerator.com
Ludgate Environment Fund
Ludgate Environmental Fund Limited aims to deliver significant capital growth to investors over the life of the Fund through active investment in a diverse portfolio of holdings in cleantech companies. The Fund has approximately £46 million of assets (as of 31 March 2010) and is a Jersey domiciled closed-end investment company listed on the Alternative Investment Market of the London Stock Exchange (AIM). The Fund focuses on the following core areas within the Cleantech sector:
Waste management and recycling; Alternative energy resources; Energy efficiency and industrial process advances; Emission reduction technologies; and Water treatment and management.
Target companies demonstrate the following attributes:
Clear environmental improvement;
Proven technology with a scalable business model;
Revenue generation or clear, near-term visibility to substantial sales;
Experienced management with technical expertise and track record of delivery;
Defensible, differentiable intellectual property or know-how;
Significant potential market with high existing, or expected, growth rates; and Clear exit strategy within the anticipated life of the fund, at a 3 to 10 times investment return.
The Fund concentrates on companies in, or focused on, Continental Europe and the UK, although its investments are not geographically restricted.
http://www.ludgateenvironmental.com
Masdar Clean Tech Fund
Masdar Clean Tech Fund is a $250 million diversified venture capital investment vehicle that will build a portfolio of clean technology funds, direct/co-investments and joint venture investments. The Fund is made-up of commitments from the following: (i) Abu Dhabi Future Energy Company (“ADFEC”), (ii) Consensus Business Group (“CBG”), (iii) Credit Suisse (“CS”) and (iv) Siemens AG. The Fund will develop a portfolio of fund investments, committing approximately $60 million to 3-5 fund managers. The remaining Fund capital will be invested in co-investments alongside fund managers and direct investments in companies sourced by the Fund. The Fund will seek to invest in companies with technologies that are suitable for commercialization in the United Arab Emirates. Credit Suisse, the General Partner and one of the leading managers of private equity fund of funds and co-investments, will manage the Fund in collaboration with the partners.
Northzone
Northzone was established in 1994 as an advisory company for technology based ventures. It started in the name of Venture Partners, and changed its name to Northzone Ventures in 2000. In the first three years of its existence the company participated in a wide range of advisory functions related to M&A’s, equity issues, strategic development and corporate restructuring. The founders of Northzone also initiated several start-ups. Northzone’s venture capital activity was established in 1996, and in Feb.97 the first Northzone investment fund was raised with an initial funding of € 7 Million. Since the inception of the venture capital activity in 1996, Northzone Ventures has been considerably strengthened on all dimensions. Throughout the period, Northzone has built a strong local and international network, positioning the firm as one of the leading venture capital entities in Europe.
Nviro Cleantech
Nviro Cleantech plc is a leader in commercialising clean technologies which has developed a strong portfolio of innovative patent-protected businesses, the most advanced of which are Vertus Technologies and Microrelease.
Vertus uses a reductive thermal process (RTP) to remove moisture and contaminants (such as mercury and sulphur) and improve the performance of fuels, notably coal and biomass, producing consistent-quality, high-energy, cleaner-burning fuels tailored for the combustion profiles of client boilers. Furthermore, Vertus maximises effective and clean reuse of the process by-products.
Microrelease, Nviro’s second business, recycles medium-density fibre (“MDF”) and particle board into a high-quality reusable wood fibre. Nviro has already conducted successful trials on Microrelease with one of Europe’s largest MDF producers, and is targeting the furniture, shopfitting and building industries for the commercialisation and purchase of this technology.
Nviro’s portfolio also comprises two follow-on technologies, focusing on air quality evaluation and purification.
Nviro was quoted on London’s Alternative Investment Market (AIM) in August 2007, and in June 2008 it successfully raised £10 million (before expenses) via a placing, which is being used primarily to commercialise Vertus and Microrelease.
Oddo Asset Management
Oddo et Cie is the biggest independent French finance company and dates back 150 years. Over 30% of employees are shareholders and together own about 35% of the capital. It undertakes work on capital markets, and advises issuing companies and particularly family companies, private banking and asset management for institutional and corporate investors. In March 2007, Oddo & Cie obtained approval to operate as a bank. Its capital is 42% owned by the Oddo family, 30% by staff, 20% by AGF and 8% by others. Its main businesses are capital markets brokerage, asset management, corporate finance and account/custody. At September 30th 2007 the group had net banking income of 250.5m Euros, a headcount of almost 800 and held 20 bn Euros in assets under management. Its gross operating profit stood at 30.7 million euros and its shareholders’ funds totalled 283 million Euros.
Oxford Capital Partners
Oxford Capital Partners is a specialist investment manager with extensive experience of investing in and supporting technology businesses with high growth potential, on behalf of institutional and private investors. Oxford Capital looks for the best opportunities, backing exceptional entrepreneurs and investing across all stages of development, from start-up to IPO. Oxford Capital’s focus is on emerging technologies in the areas of sustainability, healthcare and communications, and its expertise lies in accelerating businesses with potential for high growth in global markets.
PCG Clean Energy & Technology
Pacific Corporate Group (PCG) was one of the first firms to provide comprehensive private equity investment advisory services to sophisticated institutional investors. Over the past eighteen years, PCG has emerged as a leader in the private equity industry and continues to focus exclusively on alternative investments.
Pacific Corporate Group was founded in 1979 as a research-driven private equity investment firm. PCG’s public pension fund advisory experience dates back to 1989, when it was retained exclusively by CalPERS to design and implement the system’s inaugural Alternative Investment Management Program.
In 2007, PCG reorganized into three operating subsidiaries to better serve the unique private equity needs of its clients:
PCG Asset Management, LLC (PCG AM)
PCG Capital Partners, LLC (PCG CP)
PCG International LLC (PCGI)
Pacific Corporate Group is headquartered in La Jolla, California.
Piper Jaffray Cleantech
Founded in 1895, Piper Jaffray is a leading international middle market investment firm. It offers a full suite of products to serve its clients’ business lifecycle needs, geographic reach in an increasingly international market, and deep expertise in its core middle market sectors including clean technology.
The company was founded in1895, and has approximately 1,200 employees in 31 offices worldwide. Q3 2008 revenue: $72.7 million. Total stockholders’ equity is $891 million.
Web: http://www.piperjaffray.com
Platina Finance
Platina Financecreates value in two distinct investment areas in Europe: small cap buyout (LBO, turnaround,..)and renewable energy projects. Its principal focus is on European renewable energy projects and companies involved at all stages from development through to operation. The company typically commits €1-3 million at the development stage and up to €50 million of equity in the construction and operational stages of projects based on proven technologies (wind, biomass, solar).
Web: http://platinafinance.com
Premier Renewable Energy
Premier Renewable Energy is an investment company with a mandate to provide financing for companies which generate power from renewable energy sources, or which will be beneficiaries of the growth in renewable energy. Premier has adopted a broad definition of renewable energy, which includes areas such as waste recycling and services companies.
The investment manager is Premier Asset Management (PAM), a Guernsey based company which has over £1.8 billion of funds under management. PAM has experience in the sector as the manager of Renewable Energy Generation Ltd.
Web: www.premierassetmanagement.co.uk
Rabo Ventures
Rabobank Group is a full-range financial services provider founded on cooperative principles. It is a global leader in Food and Agri financing and in sustainability-oriented banking. The Group comprises 161 independent local Dutch Rabobanks, a central organisation (Rabobank Nederland), and a large number of specialised international offices and subsidiaries. Food & Agribusiness is the international prime focus of the Rabobank Group. Its origins lie in the local loan cooperatives that were founded in the Netherlands nearly 110 years ago by enterprising people who had virtually no access to the capital market.
The Rabobank Group has the highest credit rating (AAA), awarded by the well-known international rating agencies Moody’s and Standard & Poor’s. In terms of Tier 1 Capital, the organisation is among the world’s fifteen largest financial institutions.
Rabobank’s roots lie in agriculture. In 1898 two separate cooperative banks – the Coöperatieve Centrale Raiffeisen-Bank in Utrecht and the Coöperatieve Centrale Boerenleenbank in Eindhoven – were founded by enterprising rural folk, who, with little access to the capital market, decided to help one another.
Internationally, Rabobank focuses on the food, beverage and agribusiness sectors offering specialised products and services from2000 offices in more than 50 countries. It employs a network of prominent industry specialists, leading researchers and industry analysts who generate a wealth of knowledge for clients.
Web: http://www.raboventures.com
Sarsia Seed
Sarsia Innovation aims to find, develop and finance research-based concepts to create businesses whose potential makes them interesting investment objects for industry and international capital providers. It supports research-based commercialisation initiatives through:
Incubator : Nyskapingsparken
In partnership with the University in Bergen, Bergen College, the Norwegian School of Economics and Business Administration, and Bergen Art College, Sarsia helps run a local company incubator at the Bergen Science Centre. Here, local starting businesses are offered affordable office space and an environment that supports entrepreneurial development. www.nyskapingsparken.no
In addition the company has facilitated the establishment of the following investment funds:
Seed capital
Sarsia Seed Fund is a seed stage investor focusing on life science and energy start-ups in Norway. The NOK 334 million fund (~ €40 million) is managed by Sarsia Seed Management AS. www.sarsiaseed.com
Venture capital
Sarsia Life Science Fund is a venture fund targeting life science opportunities in the Nordic region. This NOK 377 million fund (~ €40 million) is managed by Sarsia Venture Management AS. www.sarsiaventure.com
New cleantech fund
SparebankenVest and BKK, together with Sarsia / Marin Forvaltning as management group, have taken the initiative to establish Sarsia Cleantech Fund in Bergen before year-end 2008. The partners plan to raise capital in two tranches, the first at MNOK 150-200 from local investors, to thereafter expand the fund to a targeted MNOK 1 000 during 2009.
Scottish Equity Partners
SEP isa leading European venture capital group based in London andGlasgow.The company invests in entrepreneurial and innovative companies in theIT, healthcare and energy technology sectors.
Typically, SEP contributesbetween £1million and £10million in fundingrounds of up to £30million, usually as lead investor. It takes minority equity stakes in the companies it invests in, but looks to exert a significant and positive influenceon their growth and development. It raises funds from blue chip investors – global financial institutions, alternative asset management companies, pension funds, family offices and corporates. It has backed many of Europe’s most successful technology companies, including CSR, Wolfson Microelectronicsand MTEM.
Web: http://www.sep.co.uk
Sigma Capital Group
Sigma Capital Group plc is an AIM listed UK based specialist asset management group whose principal business is investing in companies developing technologies relating to clean energy and energy efficiency.
Sigma has two further subsidiaries; Sigma IP Ltd, which specialises in the commercialisation of Intellectual Property principally from Universities, and Strategic Investment Management Ltd, which is a property investment business that was co-founded with one of Scotland’s leading IFA wealth managers and has HBOS as a co-investor.
Web: http://www.sigmacapital.co.uk
SITRA
Sitra, the Finnish Innovation Fund is an independent public fund which under the supervision of the Finnish Parliament promotes the welfare of Finnish society. Sitra’s responsibilities have been stipulated in law.
Since its establishment, Sitra’s goal has been to promote stable and balanced development in Finland, the qualitative and quantitative growth of its economy and its international competitiveness and co-operation. Its operations are governed by a vision of a successful and skilled Finland and the company has always approached its operations with strong belief in the future and in the ability of the latest technology to generate well-being.
SSE Venture Capital
SSE is the UK’s second largest energy company, supplying electricity and gas to around 8.5 million customers. It is involved in the transmission, distribution and supply of electricity, owning and operating networks comprising around 128,000km of overhead lines and underground cables.
SSE has a portfolio of almost 10,500MW of thermal and renewable electricity generation capacity. In addition, SSE is involved in the storage, distribution and supply of gas; its contracting business is one of the UK’s largest mechanical and electrical contractors; and its telecoms business operates a 7,500km UK-wide telecoms network
The core purpose of Scottish and Southern Energy is to provide the energy people need in a reliable and sustainable way; and to deliver sustained real growth in the dividend payable to shareholders through the efficient operation of, and investment in, a balanced range of regulated and non-regulated energy and utility businesses.
Web: http://www.scottish-southern.co.uk
(Sustainable Investments) SI Capital
SI Capital specialises in the cleantech sector, focusing on renewable energies. SI Capital has two clearly differentiated business areas:
Financial products: SI Capital R&S I, is a private equity company regulated by the CNMV (Spanish financial market regulator) and registered in the Official Registry of Private Equity companies, with number 118.
Specialized financial Advisory: provides developers with varied advisory services within the clean tech sector
SI Capital is aimed both at investors and developers interested inrenewable energies
Web:// http://www.sicapital.net
Sustainable Technology Fund
The Sustainable Technology Fund is a £30m fund launched in March 2007 investing in early stage technology companies based throughout the UK and is managed by E-synergy.
STF is focused on providing investment and expertise to UK technology businesses. A minimum of 50% of the Fund must be invested in companies developing Sustainable Technology which it defines as:
- technology that reduces natural resource usage, improves energy efficiencies or reduces waste
- particular emphasis on energy efficient materials or processes with early implementation opportunities
The STF is targeting investment of £500k-£2m in companies that can provide evidence of
- early sales
- accelerated growth prospects
- credible management team and business plan
Ventus VCT plc
Ventus VCT plc is a £15 million Venture Capital Trust which was listed on the London Stock Exchange in March 2005. Ventus VCT plc invests in a portfolio of companies that develop, construct and operate on-shore UK wind projects.
The Ventus group of funds are specialist investment funds focused on investing in companies developing and constructing renewable energy projects in the UK. The first Ventus fund, Ventus VCT plc, was raised in 2005. Ventus 2 VCT plc and Ventus 3 VCT plc were raised as twin Venture Capital Trusts in 2006.
Together, the Ventus funds address the funding gap that exists at the small to medium end of the UK renewable energy market. Before the Ventus funds many small to medium sized local renewable energy schemes, even those with planning permission, found it hard to attract the finance required to complete their development and deliver returns for project owners and developers. Given the target project size, most investments are in projects too small to be of interest to large development companies, utilities and larger investment funds. Generally these are projects that have been initiated by small-scale developers, land-owners, community groups or on small industrial sites.
Verdetech
Verdetech Investments was established in Autumn 2007 by MDT, a specialist infrastructure/ asset finance company together with leaders from Europe’s leading university in science and technology, demonstrating a proven track record with commercialising good ideas generated through University research.
The company will take substantial equity stakes in companies specialising in advanced stage technologies with products that have been validated but not yet exploited. However, it is not a traditional venture capital firm, for, in addition to providing capital, it aims to provide management support, be it technological, commercial or the financial know-how developed from raising in excess of $25bn of project and asset finance over a 20+ year period.
Web: http://www.verdetechinvestments.com
Virgin Green Fund
Virgin Green Fund has been established to invest in companies in the renewable energy and resource efficiency sectors in the US and Europe. The company is a sector-focused, multi-stage investment firm investing primarily in expansion/growth capital opportunities with an allocation to earlier stage venture capital opportunities. It is committed to helping companies at an inflection point of substantial growth and/or disruptive innovation.
Web: http://www.virgingreenfund.com
WHEB Ventures
WHEB Ventures invests in cleantech companies with disruptive technology and high-growth potential from initial product commercialisation stage through to expansion stage.
WHEB Ventures is one of the pioneers in the European clean technology sector. From its beginnings in 1995 as an award winning clean technology incubator and corporate finance group, it raised its first venture capital fund in 2004 and has now evolved into a leading European venture capital firm. It is currently investing out of its second fund, it has a total of £100 million of assets under management and an investment team of nine professionals with offices in London and Munich.
Web: http://www.whebventures.co.uk
XAnge Private Equity
XAnge Private Equity, a portfolio management company focusing on private equity and certified by the French Financial Markets Authority (AMF), was created in July 2004 by La Poste and ABN AMRO in France.
XAnge Private Equity advises XAnge Capital, a venture capital firm focusing on industrial companies with €65 million in assets under management, which invests in companies in postal-related businesses; manages 9 FCPI-type innovation funds, with subscriptions of over €140 million at present, invested using a multi-sector approach in companies that qualify as innovative companies; and manages XPansion, a venture capital fund launched in July 2006 and dedicated to growth capital, which makes equity investments in established SMEs active in the industrial, service and retail sectors. The fund-raising target for this fund is €50 million.
XAnge Private Equity covers all private equity segments, from venture capital investments in young companies to growth capital, mainly in France and Europe.
Web: http://www.xange.fr
Zouk Ventures
Founded in 1999, zouk is an independently owned investment manager. zouk’s first fund, European E-Commerce LP, targeted early stage investments in general technology, mostly in Europe. Through this fund, zouk became one of the first institutional investors to have invested in the carbon market and has been active in the sector since 2000.
In March 2006, zouk launched Cleantech Europe LP, an expansion stage clean technology fund, again, focused predominantly on Europe. This fund was developed to capitalise on the wealth of emerging opportunities and leverage the experience earned by zouk’s managers in European private equity and the low carbon economy.
In June 2008 zouk launched zouk Solar Opportunities Limited (“zSOL”), a closed-ended investment company. zSOL is managed by zouk and develops solar power projects in Europe, the Middle East and Asia.
A unique pan-European approach has allowed it to build up a substantial network of corporate strategic partners, investors, and co-investors from Europe, U.S., the Middle East and Asia. zouk’s dedicated Cleantech Europe LP focuses on expansion-stage technology companies in three main Cleantech areas. Sectors within these include:
- Alternative and renewable energy technologies
» Solar, wind, biomass, geothermal, hydro, biofuels, fuel cells
- Resource efficiency technologies
» Smart grid, energy efficiency, CHP, building envelope, transportation technologies, recycling
- Environmental services and technologies
» Waste management, water, carbon capture and storage, carbon management, advanced materials
The company is looking for disruptive technologies that create fresh market opportunities. zouk invests in proven technologies with demonstrable product revenues.
In addition to clean technology, zouk invests in renewable energy and environmental infrastructure projects.
Web: http://www.zouk.com