The Green Gateway Fund, also known as the Europe-Tatarstan Cleantech Fund and which is managed by Wermuth Asset Management, made its first investment by taking a minority stake in The Mobility House. The company is focused on home charging systems market for electric cars. No terms were disclosed.
Green Gateway Fund also named two senior partners: Russell Pullan and Benjamin Wilkening.
Wermuth Asset Management’s Green Gateway Fund Acquires Stake in The Mobility House
Frankfurt am Main, 15 February 2013 – The Green Gateway Fund, to which sustainable investment specialist Wermuth Asset Management GmbH (“WAM”) is the exclusive advisor, today announced that it has acquired a minority stake in The Mobility House (“TMH”).
TMH is a fast growing e-mobility solutions provider with operations in Austria, Switzerland, Germany and Scandinavia. The company enables automotive manufacturers to enter the market for electric mobility and to establish a product portfolio for their customers. TMH is focused on home charging equipment installations and services around charging (including public charging reservation and green certificates), as well as energy management services. Using its unique packages, companies and individuals can easily enter the electric mobility area, thereby walking away from fossil fuel consuming solutions from the past.
Commenting on the investment, Green Gateway Fund Partner Casper Heijsteeg said: “We have been extremely impressed with TMH in terms of the quality of business, the vision of the management team and the company’s high growth prospects. We see this investment not only as a financial investment but also as a strategic partnership as we collectively seek opportunities to develop TMH further into a leading global business.”
TMH CEO Thomas Raffeiner said: “We are delighted that Green Gateway Fund has decided to come onboard and to support our future growth as a company. We are closely aligned in our strategic vision for the business, as well as having complementary sector and geographic expertise. I am confident that this partnership will help to create significant and sustainable value for TMH.”
Wermuth Asset Management Appoints New Partners to the Green Gateway Fund
Frankfurt am Main, 15 February 2013 – Wermuth Asset Management GmbH (“WAM”), the exclusive investment adviser to the Green Gateway Fund, is pleased to announce the appointment of Russell Pullan and Benjamin Wilkening as Senior Partners.
The aim of the Green Gateway Fund is to invest in international best-in-class energy and resource efficiency growth companies, helping portfolio companies access the high-growth Russian and Commonwealth of Independent States (“CIS”) markets through the gateway of Tatarstan.
Commenting on the appointments, Wermuth Asset Management founder and CIO Jochen Wermuth said:
“Russell and Benjamin further strengthen our energy and resource efficiency team and bring a wealth of relevant experience to the Fund.
“Russell is one of the pioneers in clean energy investing, with 25 years of international experience in the energy and resource efficiency sector. Among his career highlights are helping Saudi Aramco to structure a $500m corporate venture fund for renewable energy production and industrial efficiency. Before that he established and directed the global private equity clean energy and new technology fund for Nomura, the leading Japanese investment bank. He began working in private equity as head of venture capital for Carbon Trust in 2003, and first worked in Tatarstan and Russia twenty years ago.
“Benjamin, former McKinsey consultant, has 20 years of experience in private equity and strategic consulting, including most recently seven years as a Partner at Mint Capital, where he co-managed a $130m Moscow-based Scandinavian private equity fund providing growth capital to small and mid-sized entrepreneurial companies.”
Russell and Benjamin will join forces with current Senior Partners Casper Heijsteeg, Michael Ludwig, Jochen Wermuth and the existing team of Principals Polina Burnos, Jeroen Meinders and Roman Samsonov.
The Green Gateway Fund has made its first two investments and is in advanced stages of negotiations with one other, which it intends to close in Q1 2013. The Fund has a rich pipeline of expansion-stage Western European companies that are interested in expanding their business into the high-growth markets of Russia and the CIS.
About the Green Gateway Fund
The Green Gateway Fund was launched in the presence of Germany’s Chancellor Angela Merkel and Russia’s then President Dmitry Medvedev as the Europe Tatarstan Cleantech Fund (“ETCF LP”).The aim of the Green Gateway Fund is to invest in international best-in-class energy and resource efficiency growth companies, with an additional unique selling point of actively helping portfolio companies to access the fast-growing Russian and CIS markets through the gateway of Tatarstan, where fund advisor Wermuth Asset Management has more than a decade of successful experience investing and doing business. The fund is operational, has hard commitments of €110m and is targeting a final closing size of €250m.
Wermuth Asset Management GmbH, founded in the late 1990’s, is a German family investment firm that acts as an adviser on alternative and sustainable investments in Europe. WAM headquarters are located in Mainz, Germany with additional offices in Amsterdam, Moscow and Wiesbaden. WAM is the exclusive investment adviser to several funds and SPVs whose investors include high net worth individuals, family offices, funds of funds, banks, pension funds, endowments and sovereign wealth funds. WAM has attracted over $1bn into the Russian economy since it began operating in the region. www.wermutham.com
The Mobility House is an expanding e-mobility provider and promotes various solutions for its application in everyday life. Its services comprise electric vehicles, charging infrastructure, green energy as well as battery and energy management services. TMH offers customized solutions for the automotive industry, ensuring that electric vehicles can be charged safely, powered with environmentally friendly energy and optimized for storing energy.
ElectroDrive Europe is the retail brand by TMH.