Belgian- venture capital firm Capricorn Venture Partners has signed up LRM, the regional investment company from the province of Limburg, as investor in its new Capricorn Cleantech Fund.
Belgian- venture capital firm Capricorn Venture Partners has signed up LRM, the regional investment company from the province of Limburg, as investor in its new Capricorn Cleantech Fund.
With LRM’s investment of EUR10m, the fund has reached its halfway mark of EUR50m. Other investors in the fund include Electrabel, part of the Suez Group, MRBB, the investment arm of a Belgian farmers’ group, the Flemish government investment company PMV, several pension funds, and entrepreneurs and individual investors. The final closing of the fund, which has a target size of EUR75m to EUR100m, is expected by the end of this year.
The Capricorn Cleantech Fund invests in innovative European growth companies that are developing breakthrough technologies in areas such as renewable energy, water purification, clean air and soils, reduction of greenhouse gases, bio-based chemicals and biorefineries.
Cleantech embraces a diverse range of products, services and processes that harness renewable materials and energy sources, reduce and optimise the use of natural resources, cut or eliminate pollution and toxic waste, and add economic value by significantly lowering cost and improving profitability.
Over the past few months, Capricorn’s Cleantech fund has made its first investments in SBAE Industries and Dutch-owned fluXXion. SBAE Industries was founded in 2006 to grow and process micro-algae using cultivation systems developed in-house. Along with an application as energy crops, target markets are nutritional supplements for humans and aquaculture.
FluXXion produces and sells micro-filtration products that provide high specific fluxes and exceptional filter accuracy. Its initial target markets are the dairy, beverage, ink and biotech sectors.
Steven Levecke has joined Capricorn’s investment team as investment associate after four years with PricewaterhouseCoopers. He has a master’s degree in business economics from Vlekho Business School and a master’s in financial management from Vlerick Leuven Gent management school.
Established in 1993, Capricorn Venture Partners is a Louvain-based independent manager of venture capital funds that focus on innovative European companies with technology as a competitive advantage. The Cleantech fund is Capricorn’s third venture capital fund.
