Emerald Technology Ventures, a Zurich-based cleantech venture capital fund, expects to hold a first close for a €150 million ($204 million) cleantech-focused fund, by early summer, an industry source tells G.E.R.
This would be the firm’s third fund and like the previous two — the €90 million Emerald Cleantech I and the €135 million Emerald Cleantech II fund — its investment capital would support renewable energy companies and water and advance material companies
We understand that returning investors include Dow Chemical, Credit Suisse, Rabobank’s Rabo Private Equity unit, Canadian oil and gas company Suncor. As well as tractor maker Deere & Company, Unilever, Volvo and GIMV, an investment firm based in Antwerp, Belgium.
Emerald Cleantech II has invested in Toledo, Ohio-based thin-film photovoltaic maker Xunlight and Synapsense, a developer of energy management solutions based in Folsom, Calif.