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Harbourvest Raising a Cleantech FOF

Cleantech funds take heed: There is new money in the market. Boston-based HarbourVest Partners is launching a cleantech fund-of-funds.

The vehicle currently is in the market with a target of around $150 million, a source familiar with the situation told peHUB. HarbourVest has held at least one close on $95.5 million in commitments and has set a $250 million hard cap, according to a February 17 SEC filing.

The management company, called HarbourVest Cleantech Associates, was formed in April 2008. HarbourVest declined to comment.