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.
