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Wheb Ventures holds third closing of clean technology fund

Wheb Ventures, a clean technology venture capital firm with offices in London and Munich, had held the third closing of its second clean technology fund, Wheb Ventures Private Equity 2,

Wheb Ventures, a clean technology venture capital firm with offices in London and Munich, had held the third closing of its second clean technology fund, Wheb Ventures Private Equity 2, at GBP90m (EUR105m). 

Wheb’s target for this fund’s final closing is GBP150m (EUR175m) by the end of this year. 

The fund, which has already attracted substantial support from family offices, high net worth individuals and financial institutions, now also counts among its investors the ERP-EIF Fund of Funds and the LfA-EIF Fund of Funds, which between them have invested GBP21m (EUR25m). These are two German state funds of funds managed by the European Investment Fund.

Simultaneously, Wheb has expanded its office in Munich, Germany, with existing partner Jörg Sperling being joined by Alexander Domin as an associate and Thilo von Selchow and Dr Mike Mattner as venture partners.

Domin joins from Boston Consulting Group. He was formerly the co-founder and a director of Enval, a technology company developed for the treatment of packaging waste in Cambridge, UK.

Dr. Mattner has considerable experience in the clean technology sector. He has wide experience in business management as well as technology transfer and previously managed the financing and business model of Europe’s biggest technology project, the Galileo satellite navigation programme.

Von Selchow is chief executive and president of ZMD, a global provider of analogue mixed signal semiconductors which he turned around during the last decade. 

Max-Arnold Köttgen has also been appointed to Wheb’s advisory board. Köttgen was formerly the chief executive of Otto Group Europe, the largest producer of waste containers in Europe.

James McNaught-Davis, Wheb’s managing partner, says: ‘For some time we have been surprised that there was no cleantech specialist venture capital firm on the ground in Germany, Europe’s second largest market for cleantech venture and growth capital after the UK. Our pioneering move into the German market has now been vindicated by this strong support from EIF and the German Federal and Bavarian States through the ERP-EIF Dachfonds and the LfA-EIF Dachfonds. We are especially pleased to have been able to attract such high calibre businessmen to our team in Germany and we are very excited about the potential returns to our fund investors of our German strategy.’

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