Capricorn poised with new cleantech fund

Financing opportunity

Capricorn Venture Partners held the final closing of its Cleantech Fund, finishing well above its original  target, at over €100 million, after three existing investors, PMV (ParticipatieMaatschappij Vlaanderen), Ethias and a Dutch pension fund, increased their participation in the fund.

In addition, the chemicals company Solvay Group invested, along with over 15 new private investors.

Jos Peeters, managing partner of Capricorn Venture Partners, welcomed institutional investors including the European Investment Fund, PMV, LRM and Dexia, corporate partners like Electrabel/Suez, M.R.B.B, Solvay and over 20 private investors. The investment by the European Investment Fund is through the EU’s Competitiveness and Innovation Framework Programme.

“With over €100 million under management, the Capricorn Cleantech Fund will be among Europe’s leading specialist cleantech funds and we look forward to the growing investment opportunities that are arising every day,” said Peeters.

In addition to ramping up the pace of investment following this successful closing, Capricorn is also looking to expand its investment team in the coming months.

“The Cleantech sector is a growing part of economic focus and in order to stimulate the necessary innovation and technology in the sector, we are proud to participate in funds like the Capricorn Cleantech Fund,” said Patricia Ceysens, Flemish Minister of Economic Affairs and Innovation, on the €15 million commitment of PMV to the fund.

“We are confident that our participation in Capricorn Cleantech Fund will stimulate the expansion of Solvay’s portfolio of cleantech activities, through close contact with innovation throughout Europe,” said Jean-Michel Mesland, General Manager Research & Technology, Solvay. “We will be in a privileged position to spot the best in-class for possible partnerships and to run a reality check on our own early-stage developments,” he explained.

“Solvay firmly believes that innovators in the chemical industry are best suited to provide workable solutions to some of today’s most critical environmental challenges,” Mesland added.

The Cleantech Fund will invest in European growth companies developing breakthrough technologies in fields including. renewable energy and energy efficiency, water purification and re-use, bio-based material conversion and biorefinery platforms, clean air, climate change, green chemistry and advanced materials, materials recovery and recycling.