Masdar and Deutsche Bank announced today the launch of the DB Masdar Clean Tech Fund and its first closing, at $265m.
Co-managed by Masdar Venture Capital (through Masdar Fund Investments Limited) and DB Climate Change Advisors (DBCCA), the DB Masdar Clean Tech Fund focuses on investing 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.
The Fund has attracted investment from some of world’s leading organisations concerned with climate change issues. The initial investor group is led by Siemens and includes the Japan Bank for International Cooperation, Japan Oil Development Co., Ltd., which is a wholly-owned subsidiary of INPEX CORPORATION, Nippon Oil Corporation, Development Bank of Japan and GE.
The joint DBCCA and Masdar investment team, which is based in Abu Dhabi, New York and London, combines a wide range of experience in clean tech and private equity investing within the renewable energy industry.
The managers expect to complete a number of investments over the next year.