Firelake Capital Management raising $100M for cleantech investment
Although Firelake Capital was started to invest mainly in public cleantech companies, the firm has decided to open a new $100 million fund for private sector investments.
Managing director Martin Lagod told us that the firm’s focus on new technologies won’t change. Firelake is considering investments in energy distribution and generation, transportation, water and carbon mitigation technologies.
The firm’s original evergreen fund will no longer invest in the private sector, although it will maintain its position in over a dozen private companies (full list here).
The new fund, Strategic Technology Fund II, is expected to close in January. Firelake is based in Palo Alto, Calif.
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About the Author, Chris Morrison
Chris Morrison writes about cleantech and environmental issues for VentureBeat, with occasional forays into gaming and semantic technology. He got his start writing about tech for Business 2.0 magazine, but quickly realized new media was the ticket when that institution closed its doors in 2007. Chris has also covered public equities and regulatory issues. He originally hails from southern Virginia, graduated from Evergreen State College in Washington, and now lives in San Francisco.