Clean Energy Ventures Launches Fund for Energy Focused Startups

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Boston’s Clean Energy Ventures announced it has launched its first fund to help initialize startups that tackle environmental concerns.

The fund now has $110 million in its new venture fund, its first. The fund targets the current capital shortage for seed and early-stage investments in promising advanced energy innovations. The Fund will focus on technology and business model innovations in North America that are poised for scale and commercialization, and can significantly mitigate global greenhouse gas emissions.

“After more than a decade of investing in the advanced energy sector, it’s been gratifying that this first fund, which is focused on investments that address climate risks, was significantly oversubscribed. It’s really indicative not only of investors’ appetite for innovation in these sectors, but also of the new normal in which this kind of funding is possible without compromising return on investment,” said  CEV managing director, Daniel Goldman, in a statement. “Investors are clearly seeing that increasing commercial adoption of advanced energy innovations is creating opportunities to earn attractive risk-adjusted returns.”

CEV’s three principals – Goldman, David S. Miller and Temple Fennell – offer extensive advanced energy and tech startup experience, as well as over 40 years of combined investing experience at seed and early stage startups.

CEV plans to leverage their decade-plus history of investing together across the advanced energy sector and their extensive network among financial and strategic investors who have co-invested or followed-on in many of the principals’ prior investments.