Braemar Energy Ventures raises $250 fund, one of largest clean-tech funds yet

October 4, 2007 | Matt Marshall

Braemar Energy Ventures said it has raised $250 million for its second fund to invest in clean-technology companies.

The New York based firm said its investors include many new institutions from the U.S., Europe and Asia: MassMutual, AlpInvest Partners, Morgan Stanley Alternative Investments, Robeco, GIC Special Investments (The Government of Singapore), Macquarie and the PCG Clean Energy and Technology Fund whose anchor investor is the California Public Employees’ Retirement System (CalPERS).

The Fund will typically invest $5 to $20 million in each portfolio company over the life of an investment from start-up to expansion stages. Among the investments in Braemar Energy Ventures’ first fund were EnerNOC (NASDAQ: ENOC) which went public in May 2007 and Celunol, which merged with Diversa to form Verenium (NASDAQ: VRNM) in June, 2007. Braemar’s current investments also include companies operating in waste to energy, fuel processing, batteries, photovoltaics, energy-related information technology and clean coal.

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About the Author, Matt Marshall

Matt launched VentureBeat in September of 2006, with the realization that no one else was covering the entrepreneurial and tech innovation scene with the velocity or depth that he was. Prior to founding VentureBeat, he covered venture capital for the San Jose Mercury News from 2001 to 2006. In 2002, Matt was awarded "Journalist of the Year" by the Northern California Society of Professional Journalists. Prior to working at the Merc, he was a correspondent for the Wall Street Journal in Bonn, Germany from 1995 to 1998, and a writer for the Washington Post in 1994. Matt holds a PhD in Government and an MA in German and European Studies from Georgetown University. In addition to VentureBeat, Matt is also the Executive Producer of DEMO, the leading launchpad event for emerging technologies.