I2BF, the clean technology asset management group, is raising a USD100m global renewable energy and cleantech focused venture capital fund.
This comes after the successful raising of its first venture fund, I2BF Holdings One, which currently holds close to USD75m.
I2BF’s Venture Fund II will invest in a diversified portfolio of early stage companies developing and commercialising cutting-edge technologies in the renewable energy industry.
This includes cleantech and renewable power companies in the solar, wind, biofuels, energy efficiency and energy storage sectors, primarily targeting the developed markets of Europe and US, but will also be focused on markets such as China, the CIS and Latin America.
Ilya Golubovich, founding partner of I2BF, says: “We have already secured around a quarter of commitments for this fund from both new and existing investors. This shows, not only an appetite for the opportunities in the cleantech sector, but also confidence in I2BF and our track record in making excellent investment decisions. The current portfolio reveals our understanding of the sector and how to identify and grow a successful and competitive company. We are very optimistic about the fund and already have a potential pipeline of 23 portfolio companies.”
Investments from I2BF’s first fund, I2BF Holdings One, include waste-water treatment company Epuramat; South Korea-based ultracapacitor manufacturing and power storage solutions company Nesscap; and Nordic WindPower, which has developed a two-blade design for utility and community scale wind power generation.
I2BF Holdings One has just completed its first UK investment in Bowman Power; a Southampton based company which recovers waste heat in order to build more fuel efficient power plants by improving payback and reducing emissions.
