Expansion Capital Partners, a venture capital firm specializing in expansion-stage, Clean Technology investments, closed its second fund, Clean Technology Fund II, LP. The new Fund, which has over $20M of committed capital, plans to scale to $50M+ during the coming year.
Expansion Capital is diversifying across the core Clean Technology industry sectors: Energy, Advanced Materials, Manufacturing, Transportation, and Water & Wastewater. The firm defines Clean Technology as those technologies that:
– Use energy, water and other raw materials more efficiently,
– Deliver equal or superior performance,
– Improve customer profitability, and
– Create less waste or toxicity
The Fund focuses on businesses addressing billion dollar sub-sectors of the economy, with $2-20M of existing customer revenues. The geographical focus of the Fund is North America.
Commenting on the initial closing, Mark Donohue, the firm’s founder, stated: “The strong fundamentals and rapid growth rate of many Clean Technology sectors, combined with the relative underinvestment by the venture community, make the timing excellent for above average risk-adjusted returns. In this respect, our team was pleased that all Fund I investors, which are an exceptional group of wealthy families and foundations, significantly increased their initial capital commitments in Fund II.”
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