Global Environment Fund (GEF), a Chevy Chase, Md., private equity firm, is reportedly teaming up with India’s Yes Bank to raise a $200 million, cleantech-focused fund set to invest in small and mid-size companies across Southeast Asia. This is less than the $500 million the two partners had set out to raise when they launched the fund back in June 2008.
The New Energy World Network website reports that the Asian Development Bank and the International Monetary Fund are invested in the fund.
Last November, GEF invested $46.3 million in AIM-listed India-focused renewable energy generation company Greenko. The investment firm manages over $1 billion in private equity investments.