Israel Cleantech Ventures raises $75m for debut fund

The first-time fund is investing in Israeli companies in sectors such as energy, water and the environment, and has already made seven investments.

Israel Cleantech Ventures, a clean technology-focussed private equity firm, has closed its debut fund on $75 million (€48.4 million), surpassing its target of $60 million.

Investors in the fund include Netherlands-based alternatives manager Robeco Private Equity, US investment bank Piper Jaffray and institutional investors and family offices from Israel, Europe and the US, the firm said.

Israel Cleantech Ventures makes growth capital investments in Israeli or Israel-related clean technology companies including alternative energy, water purification, water conservation, emissions reduction and other technologies that enable industries to be more environment-friendly.

The fund has made seven investments including water treatment company AqWise; CellEra, a fuel-cell power company; and Citrine Renewable Energy, which converts biogas from landfills to natural gas. It has also invested in Pythagoras Solar, a company working on developing cost-effective solar energy products; Project Better Place, which is developing infrastructure for charging electric vehicles; Metrolight, a provider of electric lighting systems; and Emefcy, which is developing a system to generate power from wastewater.

Andrew Musters, Partner at Robeco Private Equity said in a statement that “Israel is an attractive market for water, technology and renewable energy” and that Israel Cleantech Ventures was in a position to take advantage of the emerging clean technology market in the country.

Israel Cleantech Ventures was established in 2006.