Israel Cleantech Ventures raises $75M fund

Passing by its target of $60 million, new Israeli venture firm Israel Cleantech Ventures has raised $75 million for its official first fund from backers including Robeco and Piper Jaffray.

Claiming to be Israel’s first cleantech-focused fund, the firm already has bets on some companies, and is planning on investments across most of the cleantech sectors. However, there are a few that are likely to receive more attention, due to the geographical location and political realities of the country.

Several solar companies, including leading solar thermal firm Solel, have sprung up within Israel’s sun-drenched borders. Water is a strong market, with companies like Aqwise working on desalination technologies, and electric car-enabler Project Better Place also has a focus on the country, because of its small size. ICV already has investments in Aqwise and Better Place.

The firm has three general partners and four more venture partners; a list is here. It’s based in Ramat Hasharon.

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