Greener Capital, a venture capital firm focused on breakthrough solutions in clean technology, has held a first closing on commitments totalling USD33 million for its second cleantech fund, Greener Capital Partners II, L.P.
Greener’s first fund has returned approximately 45%, net of fees, since inception in 2009. The partners expect the fund to continue to attract strong interest from investors.
Charles Finnie, founder and managing partner, says: "The success of our first fund has fueled tremendous interest in this second fund, in contrast to a notable pull-back in clean technology investments overall this year. There are reasons our investments have been successful thus far. We back entrepreneurs who offer unconventional, even radical solutions to major problems in the production and management of energy We invest in capital-efficient businesses that can be cost competitive with traditional energy providers, without government subsidies
Since most investment capital is chasing later-stage investments, we are able to invest at compelling valuations in earlier stage companies"
