Environmental Technologies Fund (ETF) announced that it has closed funding for its first venture capital fund, which will focus on growth companies in the clean technology and services sectors. Funding now stands at approximately US $220 million after exceeding its original target size, according to ETF.
Investors in the fund include Swiss Re, The European Investment Fund (EIF), Robeco, The Co-operative Insurance Society and F&C.
ETF said it will invest on a pan-European basis in companies involved in energy storage and conservation, emissions reduction, renewable energy, water, "smart building" technologies, applied materials and recycling.
The three Founding Partners of ETF are Henrik Olsén, Peter Horsburgh and Patrick Sheehan; the chairman is David Quysner who is also chairman of Abingworth.