Firms Raise $265M for ‘Clean Tech’ Fund

January 19, 2010 ( – Masdar and Deutsche Bank have together launched the DB Masdar Clean Tech Fund and its first closing, raising $265 million.

A news release said the DB Masdar Clean Tech Fund “benefits from the sector knowledge and scope of the Masdar Initiatives with the global asset management and research capabilities of Deutsche Bank. Co-managed by Masdar Venture Capital and DB Climate Change Advisors (DBCCA), the fund seeks to build a diversified venture capital and private equity portfolio that will include clean tech and renewable energy companies, the announcement said.

The fund will invest primarily in expansion and later stage companies in the clean energy (power generation, storage), environmental resources (water, waste management), and energy and material efficiency (advanced materials, building and power grid efficiency, enabling technologies) sectors.

“Completing first close on the DB Masdar Clean Tech Fund is a clear statement of intent,” said Sultan Ahmed Al Jaber, Masdar’s CEO, in the news release. “We understand both the financial and social value of companies that are tackling global environmental challenges; we are committed to supporting them by providing capital investment and management expertise.”

The joint DBCCA and Masdar investment team is based in Abu Dhabi, New York, and London.