Thursday 22nd Apr 2010
Market News
WHEB ventures raises £100m for second Cleantech fund
WHEB Ventures, one of Europe’s leading clean technology private equity firms, has announced the closing of its second clean technology fund
WHEB Fund 2’s new commitments include one from HPE Environmental Innovation Fund, managed by Hermes GPE LLP, (“Hermes”). Hermes was selected to be one of the fund of funds managers of the UK Innovation Investment Fund which was established in January this year to invest in low carbon and clean technology funds and to co-invest in companies. Alongside Hermes, WHEB also counts the European Investment Fund among its institutional fund investors.
James McNaught-Davis, WHEB’s Managing Partner, said: “We are delighted with the progress of our fund raising to date. WHEB is one of very few European VC firms to have raised capital during the last eighteen months, a very challenging period for fund raising.”
“We are particularly pleased to be the first cleantech fund to receive an allocation from Hermes GPE’s Environmental Innovation Fund. Their commitment to WHEB’s second cleantech fund is a testament to the quality of our team, the fund’s balanced investment strategy and the portfolio of investments built to date. We look forward to our final closing at the end of May once the remaining potential investors have completed their due diligence.”
