Three angel investment groups have banded together to invest in early stage cleantech companies in response to what they call a “funding gap” in the sector.
CalCEF Clean Energy Angel Fund, Kuwait Petroleum Ventures Inc. and Keiretsu Forum’s Cleantech Investment Committee have formed a partnership called the Cleantech Angel Network of Networks.
According to a release from the three groups said the partnership will allow angel investors to collaborate and exchange information on potential investments and link early stage companies to early-stage investors.
Ultimately the partnership intends to fund a greater number of cleantech companies than if the three groups were working separately.
“As we were looking for opportunities to build out our cleantech strategy, we found partners such as Keiretsu Forum and CalCEF, who had also identified the need for more angel money and resources,” said Mohammad al-Ramadhan of Kuwait Petroleum Energy Ventures Inc. in the release. “In building this alliance, we will be able to leverage large pools of capital, operational expertise, seasoned professionals and multiple sources of deal flow to accelerate the growth of the cleantech industry.”
