Piper files to raise $300M for clean-tech fund (Minneapolis)
Piper Jaffray Cos. is trying to raise a $300 million private-equity fund that would investment in clean technology projects.
The Minneapolis-based investment bank reported its plans to raise the fund, called the CleanTech Alliance Fund, in a securities filing. The company has already raised $100 million.
The fund will be managed by Scott Barrington, who has led Piper's clean-technology investment activities, according to the securities filing. Barrington declined to comment on fund raising activities, citing S.E.C. regulations.
In 2007, Piper raised a $62.5 million fund devoted to clean tech investments. Late last year, it also closed on a $100 million fund. The clean tech funds of funds invest in venture-capital funds than in turn back promising startups.
Read the full story in the Minneapolis / St. Paul Business Journal.
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