The CalCEF Angel Fund has held a first close on its debut fund, which will focus on seed-stage and early-stage cleantech opportunities. No dollar amounts were disclosed.
The CalCEF Clean Energy Angel Fund I, LP (the CalCEF Angel Fund), announced today that it has completed an initial close on investment commitments. A first-in-kind fund dedicated to making market-based returns on seed- and early-stage clean energy company investments, the CalCEF Angel Fund secured investments from a wide range of limited partners including institutional and individual investors. The California Clean Energy Fund (CalCEF) is the founding limited partner in the Angel Fund. The Angel Fund furthers CalCEF's strategy to fill the funding gap for promising early-stage clean energy companies. Companies are invited to apply at the CalCEF Angel Fund Web site at www.calcefangelfund.com.
Funding clean energy companies has become one of the fastest growing investment opportunities. Yet despite significant environmental policy leadership in
“The funding gap for seed and startup companies was a driving force behind the establishment of the CalCEF Angel Fund. By supporting innovation in its earliest form, we have a chance to foster the clean energy solutions of the future,“ said Susan Preston, General Partner for the Angel Fund and internationally recognized angel financing expert. Angels principally invest at an early-stage, placing a smaller amount of funds with young companies, thus partially filling the funding gap between initial founder money and later stage venture capital investments.
The CalCEF Angel Fund will begin evaluating potential investment opportunities representing a wide range of clean energy technologies. While there are no geographic restrictions on investments, many are expected to be made in
“We are pleased with Susan's effectiveness in raising the fund, and I personally look forward to working with Susan through the Angel Fund's Investment Committee,“ said Tom Jacoby, CEO of Tymphany and a member of the CalCEF board of directors.
About the CalCEF Clean Energy Angel Fund
The CalCEF Clean Energy Angel Fund is a first-in-kind fund dedicated to making market-based returns on seed-and early-stage clean energy companies. CalCEF targets companies focusing on renewable energy, energy efficiency, energy storage and other products and services designed to enhance the clean energy sector. For more information, go to www.calcefangelfund.com.