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VantagePoint Raises $100 Million for Chinese Clean-Energy Fund
2010-09-14 22:20:57.217 GMT
By Ehren Goossens
Sept. 14 (Bloomberg) -- VantagePoint Venture Partners, the
Silicon Valley investment firm, said it raised $100 million for
a fund focused on "clean" power, energy-efficient technologies
and financial services in the Tianjin, China, region.
The Tianjin VantagePoint Hi-tech China Fivce Fund will be
managed with Tianjin Hi-Tech Holding Group and Tianjin Binhai
Development Investment Holding Co. The fund started yesterday
and is focusing on investments in Tianjin and the surrounding
Bohai Rim region in northeast China, where so-called clean
technology is being defined, VantagePoint said in a statement.
There is "no specific breakdown" of the areas in which
the money will be invested, Gene Gable, vice president of
marketing communications at San Bruno, California-based
VantagePoint, said in an telephone interview. He said clean
technology is an important component of the company's investment
mix in the U.S.
China, specifically the Tianjin-Bohai Rim region, is at the
center of the "cleantech revolution," VantagePoint Chief
Executive Officer Alan Salzman said in the statement.
VantagePoint, which opened an office in Beijing in 2007,
said it's invested more than $1 billion in clean technology and
made investments in companies involved in LED lighting, building
efficiency, renewable-power generation, so-called smart grid
technology, energy storage, waste-to-energy and the
electrification of transportation options.
For Related News and Information:
Renewable energy stories: NI ALTNRG <GO>
Renewable energy in China: TNI ALTNRG CHINA <GO>
Venture capital news: NI VC <GO>
--Editors: Romaine Bostick, Stephen West.
To contact the reporter on this story:
Ehren Goossens in New York at +1-212-617-7155 or
egoossens1@bloomberg.net.
To contact the editor responsible for this story:
Reed Landberg at +44-20-7330-7862 or
landberg@bloomberg.net.
