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AltAssets is the private equity news and research service from Almeida Capital
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PRINT THIS PAGE Foundation closes $750m fund08/04/2008. Source: AltAssets. 
US early stage venture capital firm Foundation Capital has closed its sixth fund, Foundation Capital VI, on $750m. The fund will allocate some $250m to expanding Foundation's cleantech practice, according to a statement. Foundation Capital VI will also continue to focus on investments in sectors including consumer internet and infrastructure; telecommunications and networking and enterprise software and on demand services.
Paul Holland, general partner, Foundation, said, 'The cleantech industry is thriving with experienced technology executives driving new urgency into the market. At Foundation, we've taken a keen interest in the 'demand side' of the cleantech equation and are pleased to see the industry embrace investments geared toward energy efficiency.'
Foundation has also announced that it has appointed Ashmeet Sidana as a general partner, Skip Glass as an operating partner and Mike Brown and Steve Vassallo as principals.
Foundation has made investments in the cleantech sector since 2003, investing $150m in areas including energy efficiency and intelligence, green building materials and industrial processes, food quality and clean water. Investments include eMeter, EnerNOC and EnerNOC.
Founded in 1995, Foundation is headquartered in Menlo Park. The firm manages funds with capital totalling approximately $2.4bn.
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