Cleantech Investing: NGEN completes first close of their next fund

Tuesday, May 24, 2005

NGEN completes first close of their next fund

NGEN announced today that they have completed the first close of their next fund, at $50M. NGEN is an advanced materials VC whose investments often fall in the cleantech sphere... More information as it becomes available, but in the meantime congrats to Steve Parry and the rest of the team at NGEN.

Update: The fund is targeted for final close at $150M. Already signed up as LPs are CalPERS, CalSTRS, The Camille and Henry Dreyfus Foundation, Cycad Group, the Glenn Foundation, Siemens Venture Capital, Asahi Glass Co., Air Products, BASF, Bayer MaterialScience, DuPont, DSM and Henkel. Kudos to NGEN for attracting a great group of investors.

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What is "cleantech"?

The term "cleantech" refers to technologies that:

- Use energy, water and other raw materials more efficiently and productively,

- Deliver equal or superior performance,

- Improve customer profitability, through cost reduction and/or increased revenues, and

- Create less waste or toxicity

...compared to incumbent technologies

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Tuesday, May 24, 2005

NGEN completes first close of their next fund

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