Braemar Energy Ventures closes $250m Energy Technology Fund

Investments came from institutional investors in the US, Europe and Asia. Investors include MassMutual, AlpInvest Partners, Morgan Stanley Alternative Investments, Robeco, GIC Special Investments, Macquarie and the PCG Clean Energy and Technology Fund.

Neil Suslak, managing director of Braemar, said, 'Following on the success of our first fund, we will continue to focus on identifying the best of breed of the new energy technology companies with skilled management teams.'

The fund will look to invest between $5m and $20m in each portfolio company over the life of an investment from start-up to expansion stages.

So far, one investment has been made from the fund, but has yet to be announced.

Braemar's current investments include companies operating in waste to energy, fuel processing, batteries, photovoltaics, energy-related IT and clean coal.

Among the investments in Braemar's first fund were EnerNOC, which went public in May 2007; and Celunol, which merged with Diversa to form Verenium in June 2007.

Braemar was formed in 2002. The firm focuses on early to mid stage investments in the energy technology sector and operates out of offices in New York and Boston.

Copyright © 2007 AltAssets