Energy-focused venture capital firm Braemar Energy Ventures has closed its third fund at $300m.
Backers include existing limited partners such as MassMutual, Alpinvest Partners, Morgan Stanley Alternative Investments, Macquarie and GIC Special Investments — the Government of Singapore, as well as new investors such as Munich Re, HarbourVest, the State of Rhode Island, RIT (Rothschild Investment Trust) and Invesco on behalf of the California State Teachers’ Retirement System (CalSTRS).
Braemar Energy Ventures III, LP, will invest in innovative venture and expansion-stage energy technology companies that serve the conventional and alternative energy markets to help deliver cleaner, cheaper, more efficient and reliable energy solutions. Led by managing partners Neil S. Suslak and William D. Lese, Braemar Energy Ventures focus on technology that spans the entire energy industry ranging from conventional oil, gas, and coal, markets to renewable power and fuels.
The firm is based in New York, NY, and Boston, MA.