SAM spin-out launches ‘clean tech’ firm(2)

The Zurich and Montreal team has bought the venture capital assets of SAM and created a clean technology investment firm: Emerald Technology Ventures.

The management team of Zurich, Switzerland-based SAM Private Equity, an affiliate of SAM Sustainable Asset Management, which invests in clean technology, has bought the venture capital division from its parent and established a new firm called Emerald Technology Ventures.

Emerald has a total of about €250 million ($329 million) in assets under management. It invests in the clean technology sector and focuses specifically on the energy, materials and water industries. Its portfolio consists of 27 European and North American companies, including Advanced Bionutrition Corp, a Columbia, Maryland-based biotechnology company focused on human nutrition and animal health; AgraQuest, a Davis, California-based developer of environmentally friendly pest management products; and Ocean Power Delivery, an Edinburgh, Scotland-based wave energy company.

Emerald has offices in Zurich and in Montreal, Canada. Its partners include Luc Charron, Peter Crombie, Walter Locher, Markus Moor and Gianni Operto. Charron Crombie and Moor work from the Montreal office and Operto works in the Zurich one. Locker is based in Phoenix, Arizona.

Emerald is led by Gina Domanig, a former senior executive from Swiss multinational corporation Sulzer.

The firm is currently investing out of its fifth fund, SAM Private Equity Sustainability Fund II. That fund closed at €150 million in 2005.