Israel Cleantech Ventures (ICV), the first Israeli cleantech-focused
investment fund announced today that it reached a final close of $75M
for its debut fund, significantly exceeding its original target of $60M.
ICV was established in 2006 to provide value added growth capital to
exceptional entrepreneurs building Israel’s
energy, water and environmental leaders. The fund is backed by high
profile institutional investors and family funds in Europe, the USA and
Israel, including Netherlands-based asset manager Robeco Private Equity
and US-based financial institution Piper Jaffray.
The fund is managed by partners Jack Levy, Meir Ukeles and Glen Schwaber
working together with a team of industry veterans with decades of
experience in Israeli energy, water and materials technology companies –
Arnon Goldfarb, Eytan Levy, Israel Kroizer and Yigal Stav.
ICV will invest in Israeli based or Israel related high growth clean
technology companies, including alternative energy, water conservation
and purification, emissions reduction, and in technologies that enable
existing industries to work in a more efficient and environmentally
friendly manner.
The Fund has made seven investments to date in companies operating in
various clean technology sectors, such as –
Aqwise (waste water treatment), CellEra (fuel cells), Citrine Renewable
Energy (landfill biogas treatment), Emefcy (energy production from
wastewater), Metrolight (energy efficient lighting), Project Better
Place (electric vehicle infrastructure), and Pythagoras Solar (solar
energy).
Andrew Musters, Partner at Robeco Private Equity said, “Israel
is an attractive market for water, technology and renewable energy and
we think that Israel Cleantech Ventures has a strong team and network
that is well positioned to take advantage of this emerging clean tech
market.”
“As we completed the diversification for the
first U.S.-based cleantech fund of funds, it was important for us to
have exposure to the leading-edge innovation in alternative energy,
advanced materials and water technologies taking place in Israel,”
said Danny Zouber, principal at Piper Jaffray Private Capital. “Israel
Cleantech Ventures offers our investors a level of expertise and
experience in those sectors that will enhance our overall portfolio.”
“We are very pleased with the level of
support we’ve received from our investors, who
have recognized Israel’s potential as a
source of cleantech innovation,” said Jack
Levy, general partner of ICV. “We are
impressed with the quality of the entrepreneurs we are seeing and look
forward to working with them to build successful companies in the years
to come.”
About Israel Cleantech Ventures
Israel Cleantech Ventures was established in 2006 to provide value added
growth capital to exceptional entrepreneurs building Israel's energy,
water and environmental technology leaders. The fund has $75M under
management. ICV's investment professionals combine industry expertise
gained through decades in senior management positions at Israel's
outstanding cleantech companies, with proven abilities in identifying,
investing in and supporting VC-backed companies.
Website: www.israelcleantech.com
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