Foley Hoag LLP advised Clean Energy Venture Management, LLC (CEV), an investor in early-stage advanced energy start-ups, on the closing of its first fund, Clean Energy Venture Fund I, LP (Fund), with $110 million in capital commitments. The limited partners in the Fund include a diverse group of high net worth individuals, family offices, strategics, foundations, and other institutional investors. The Fund targets the current capital gap for seed and early-stage investments in promising advanced energy innovations.
CEV is a Boston-based venture capital firm focused on technologies and business model innovations in the U.S. and Canada that are ready to be scaled and commercialized, and that have the potential to mitigate significantly global greenhouse gas emissions. The firm's principals – serial entrepreneurs and investors who have backed more than 30 companies in the advanced energy technology sectors – have been investing in, supporting and mentoring early-stage energy startups since 2005.
Foley Hoag attorneys Eric Belsley, Gabrielle Bernstein and Ayah Zaidi represented CEV in the transaction.