A new private equity fund aims to build a sustainable economic future in Louisiana by investing in clean tech companies there.
SAIL Capital Partners, LLC and SAIL Sustainable Partners of Louisiana, LLC (SSP) announced the creation of The Louisiana Sustainability Fund (LSF).
The Fund is expected to impact green jobs and businesses in Louisiana through the investment of private capital in later stage growth companies with proven technologies, either currently in Louisiana or positioned to locate in Louisiana, that are making significant contributions to sustainable economic growth.
The Fund will work in cooperation with governmental and non-governmental organizations to drive economic development and transformation. The state was chosen as the core for the new private capital fund because it comprises an opportune mixture of valuable resources and intellectual capital in the areas of energy, water and agriculture, coupled with strong tax incentives for businesses and pro-growth policies.
In addition, since the beginning of the national economic recession, Louisiana’s economy continues to outperform the South and the U.S. and secure top spots in national business rankings, the fund said.
"We believe that the potential for economic growth through investment in sustainable businesses in Louisiana is extraordinary," commented SSP Chairman of the Board and SAIL Capital Partners Managing Partner Walter Schindler. "We believe that now, because of a variety of factors, including tax incentives and growth in the cleantech sector, Louisiana is ripe for this kind of investment"
The Fund will invest in the areas of energy, water and green innovation. In addition, the Fund will measure the investments potential for long-term economic development and profitability in Louisiana. The Fund’s investment strategy selects convertible debt investments with warrants in later stage companies and drives value creation by participating in equity upside.
Sustainable investment is on the rise according to industry leaders. New global investment in clean energy reached $243 billion in 2010, up from $186.5 billion in 2009, while venture capital and private equity investment in the industry grew 28%.
"Businesses who embrace cleantech can be profitable," said SSP General Partner and Whole Foods Board Chairman John Elstrott. "We could have picked Orange County, Silicon Valley or any number of places, but we chose Louisiana because for us it represents a new frontier for sustainable enterprise, entrepreneurship and innovation."
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We believe that the potential for economic growth through investment in sustainable businesses in Louisiana is extraordinary,” commented SSP Chairman of the Board and SAIL Capital Partners Managing Partner Walter Schindler.