Meidlinger Partners’ new investment vehicle, Meidlinger Partners Sustainable Investments, has completed its first closing.
Limited partners committed USD4.25m to the round, and Benchmark Asset Managers, a founding investor, expects to add an additional USD10.75m toward the fund’s target size of USD100m.
The fund provides expansion capital to proven companies in the lower market with solutions to solve the world’s water, wastewater and energy problems.
Kevin Brophy, Meidlinger’s co-founder and chief executive, says: “The lower market is the sweet spot where operational, industrial and technical support can act as a catalyst to propel portfolio companies to the next level. Since January 2009, we have seen 560 such cleantech investment opportunities, of which we are tracking more than 100 and taking a close look at five. Many of these fit into the attractive water/energy nexus space.”
The firm plans to capitalise on the strong momentum from the government, businesses, and consumers to address climate change, pursue energy independence and firm up national security.
In addition, with the growing awareness of water availability, water quality and wastewater treatment and discharge issues, it is likely that the three constituent groups will continue to allocate resources to the businesses best positioned to solve these problems.
G. Benjamin Bingham, managing director of Benchmark Asset Managers and a member of Meidlinger’s advisory board, says: “Benchmark’s investors are looking for exposure to private companies, especially in the growing cleantech space. Our firm is proud to have been a founding investor in this fund and sees great promise for the future.”
Meidlinger made its first investment in Triton Water, an advanced water treatment company headquartered near Hamburg, Germany. The business provides end to end water and wastewater solutions for cargo ships and cruise ships, industrial companies such as its customers Airbus and Deutsche Solar, and municipalities.
