The CalCEF Clean Energy Angel Fund
has held the final close of its premier fund with just under $11m in committed capital from institutional and individual investors.
Backers include the PCG Clean Energy & Technology Fund.
Founded in 2008 by the California Clean Energy Fund (CalCEF), the vehicle invests in early-stage clean energy companies operating in the solar, energy efficiency, transportation and lighting sectors.
In addition to providing capital of up to $500,000 per round, the fund provides ongoing strategic guidance, including market and regulatory intelligence, to its diverse investment portfolio, currently comprised of four companies.
Recent additions to its portfolio include Alphabet Energy, a startup commercializing a low-cost waste heat recovery technology developed at the Lawrence Berkeley National Laboratory, and REEL Solar, which has developed a low-cost cadmium telluride (CdTE) electro-deposition process for manufacturing solar cells.