Clean energy angel fund closes with $11M (Silicon Valley)
The CalCEF Clean Energy Angel Fund on Wednesday announced the final close of its premier fund with just under $11 million.
Founded in 2008, the CalCEF Angel Fund invests in early-stage clean energy companies spanning the renewable energy and energy efficiency sectors.
"Transparency and participation from our limited partners is the cornerstone of the CalCEF Angel Fund's investment strategy. Taking the shape of a hybrid fund, our approach is a cross between a direct angel model and venture firm where visibility, collaboration and resource sharing are spread among all partners," said Susan Preston, general partner of the San Francisco-based fund.
The CalCEF Angel Fund was launched by the California Clean Energy Fund. Recent additions to its portfolio include Alphabet Energy, a startup commercializing a low-cost waste heat recovery technology developed at the Lawrence Berkeley National Laboratory, and REEL Solar, which has developed a low-cost cadmium telluride electro-deposition process for manufacturing solar cells.
The fund's portfolio also includes Fremont-based Lumetric Inc.
Read the full story in the Silicon Valley/San Jose Business Journal.
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