The Ecosystem Integrity Fund (EIF), a San Fraancisco, CA-based sustainability-focused early growth stage investment firm, closed its third fund, at $100m.
EIF III has made six investments towards Series-A and B rounds for high-growth, early-stage cleantech, electric vehicle and other sustainability-focused companies and has a signed term sheet for a seventh.
– EV Connect (EV charging);
– eMotorWerks (EV charging demand management, acquired by Enel);
– Pegasus Solar (solar mounting);
– Opti (water management);
– Flying Embers (probiotic adult beverages) and
– Bluon Energy (efficient HVAC).
Fund III will make up to eight investments targeting companies with proven technology and commercial traction.
Led by Managing Partners James Everett and Devin Whatley, and Partners Geoff Eisenberg and Sasha Brown, EIF is a venture capital firm that invests in early-stage companies contributing to environmental sustainability. The firm has raised over $175 M for sustainability-focused investment.
The firm is responsible for five of the most successful venture exits in sustainability-related companies, led by ZepSolar in 2013. EIF Fund I launched in early 2011, manages $19.6M, and is fully invested/allocated to six portfolio companies. It has had two exits to date. As of September 30th, 2018, Fund I had a net to LP IRR of 34.4% and a DPI of 1.84x, placing Fund I as the #1 ranked 2011 venture fund Cambridge Associates U.S. Venture Capital Benchmark Index, Q3 2018).
EIF Fund II launched in 2014, manages $57M, and is fully invested/allocated to six portfolio companies.