Last week I asked a pair of quiz questions. Here are the answers:
Q: Can you name the West Coast buyout firm that just raised its fundraising target to $5 billion? Hint: It doesn’t do cleantech, but you would be forgiven for thinking that it did.
A: Golden Gate Capital, which previously had been considering a $2.5 billion target. The clue relates to the fund’s evergreen structure (as previously reported in this space). This would be Golden Gate’s third general fund (and will include an overage fund), following a $1.8 billion second fund that was supplemented by a $614 million annex vehicle earlier in the year.
Q: Can you name the latest cleantech company to be funded by Kleiner Perkins and Khosla Ventures? Hint: It’s very earthy.
A: Altarock Energy Inc., a Seattle-based company that is developing advanced geothermal technologies. It’s still in deep stealth mode (thus the vague description), but has raised $4 million in Series A funding from KP, Khosla and seed backer Aaron Mandell (GreatPoint Energy). Mandell’s company has raised its own venture cash from KP and Khosla, wiso he introduced the Valley stalwarts to Altarock (which he had already seeded). The company is run by veteran geothermal consultant Susan Petty.