Another morning, another firm has announced the closing of a cleantech fund. This time it’s over $100 million for Expansion Capital Partners, a San Francisco based firm, founded in 2002 by Mark Donohue. Expansion says that it was the first fund to focus solely on expansion-stage cleantech investments.
This is the fourth cleantech fund closing we’ve covered in the past couple of months. Investors aren’t shying away from raising new funds for green startups, as investment in the sector grew 10% between the second quarter of 2007 and the second quarter of 2006, according to the Cleantech Network. Expansion says that it raised the fund target from $60 million to $100 million to meet the growth in opportunities in the sector.
Earlier this week Climate Change Capital said it had closed a fund worth 200 million euros ($273 million). Last week, a regulatory filing revealed that EnerTech Capital had raised $75 million of a $250 million planned third fund. In July, Technology Partners said it has formed ‘Fund VIII’ with $300 million for cleantech and life science investments.