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Cleantech magazine, a Cleantech Investor publication
Fund-of-Funds: Piper Jaffray cleantech f-o-f closes at $60m PDF Print E-mail


US investment bank rounds off first cleantech fund-of-funds at $60m

  First published in Cleantech magazine, March 2007. Copyright Cleantech Investor Ltd, 2007 


Fund & Investors


US investment bank Piper Jaffray has held a final close for its first fund-of-funds to invest in the cleantech sector. According to the firm, the vehicle had
an initial target of $25 m but was oversubscribed at $60m. The fund’s investor pool includes US banks, institutional investors and family offices.

Investments


The fund will initially focus on ‘pure play’ funds that focus on cleantech rather than larger VC funds; it will seek opportunities within firms investing in alternative energy and nextgeneration technology. It will not invest in firms investing in the solar or biofuels sectors. It is understood that the fund has already committed 80% of its capital, backing US funds managed by Draper Fisher Jurvetson, VantagePoint Venture Partners and Nth Power. The fund intends to invest in a total of seven to eight funds in 2007 and is reported to be considering opportunities in
Western Europe.

People


Scott Barrington, Danny Zouber and Mark Austin are managing the fund on behalf of Piper Jaffray Clean Technology Ventures.

Contact


Piper Jaffray & Co.
Suite 800
800 Nicollet Mall
Minneapolis, MN 55402-7020
+1 612 303-6000

Piper Jaffray Ltd.
First Floor, Phoenix House
18 King William Street
London EC4N 7US
+44 (0)20 7743 8700
 
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