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Summary:

This morning the CalCEF Angel Fund say it has invested in three firms — efficient-lighting startup HID Labs, biofuels company Allopartis Biotechnologies, and an undisclosed solar investment that is adapting chip manufacturing to make cheap, efficient solar cells.

When we spoke to investors at the CalCEF Angel Fund last month, they had been investigating which early stage startups would receive the first investments from the firm’s planned $20 million fund. This morning the investors say they have invested in three firms — efficient-lighting startup HID Labs, biofuels company Allopartis Biotechnologies, and an undisclosed solar investment that is adapting chip manufacturing to make cheap, efficient solar cells.

The fund says it has also raised additional funding towards its $20 million goal, inching toward $10 million — up from $7 million in September. It has also added limited partners, including PCG Clean Energy & Technology Fund (PCG).

Founded in April 2008, the CalCEF Angel Fund took some of the money from an original nonprofit CalCEF fund, which was established in 2004 with $30 million from a PG&E bankruptcy case. But that fund was mainly being invested in later stage companies. This new CalCEF Angel Fund is very much for-profit and is looking to invest some $300,000 to $500,000 into 15 or so deals, and move technology from the lab to the early stages of commercialization.

  1. [...] CalCEF Angel Fund Back Solar, Biofuels, Lighting An undisclosed solar company that is adapting chip manufacturing to make cheap, efficient solar cells was one of three recipients of CalCEF Angel Fund’s $20 million fund. [...]

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  2. [...] Ventures, Big Sky Ventures, Greenhouse Capital Partners and the CalCEF Angel Fund have invested in HID Labs, which is working on a demand-response platform to control and dim high-intensity-discharge [...]

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  3. [...] Angel Fund is no exception. The fund, which in October said it had raised $9.3 million toward its goal of $20 million, is still working to raise the rest of the money. Representatives said it has raised “about [...]

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  4. [...] see the potential. HID Laboratories raised $6 million from the California Clean Energy Fund, American River Ventures, Sempra, Greenhouse Capital Partners, Big Sky Partners and the Potomac [...]

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