Calling Israel's Green Entrepreneurs: Israeli Fund Closes $75M

Hey Israel’s green-leaning innovators, Israel Cleantech Ventures, a firm focused on funding green technology innovations in Israel, said this morning that it’s closed $75 million for its debut fund. The firm has been around since 2006 and has already made seven investments, many of which we’ve profiled on Earth2Tech. And it’s planning on making more — in alternative energy, water conservation and purification, emissions reduction, and energy-efficiency technologies in general.

While the fund is not as big as others raised recently, Israel Cleantech Ventures was one of the most active investors in the world during the first quarter of 2008, according to the Cleantech Group. The firm invested in four startups, making them the 5th most active cleantech venture investors in the first three months of the year.

Israel itself also saw a record quarter, according to the Cleantech Group, with $132 million invested into nine companies. That was the most deals the state has ever done in a single quarter, and dollar-wise it was a 75 percent jump over the fourth quarter of 2007. Although it should be noted that the high dollar figure was partly due to the $105 million invested into solar thermal company Solel.

If you’re wondering what kind of deals Israel Cleantech Ventures does, well, they pretty much cover it all: wastewater treatment startup Aqwise, fuel cell firm CellEra, landfill biogas company Citrine Renewable Energy, wastewater energy producer Emefcy, HID lighting company Metrolight, Shai Agassi’s electric vehicle infrastructure startup Project Better Place, and solar company Pythagoras Solar.

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