Foley Hoag LLP advised in the formation of a second flagship climate tech fund by Clean Energy Ventures (CEV), a leading global venture capital firm funding early-stage climate innovations. On May 29, 2024, CEV
announced the closing of an oversubscribed funding round with total capital commitments of $305 million, significantly higher than its initial $200 million target.
The launch of Fund II follows the successful deployment of a $110 million Fund I, which has backed 20 disruptive companies across the climate tech landscape. In addition to significantly expanding CEV’s investment opportunities in North America, the latest fund allows CEV to bring its strategy and expertise to climate technology entrepreneurs across Europe. Fund II investments are expected to focus on areas such as industrial decarbonization, plastics alternatives, and new electro-chemical processes for producing low-carbon fuel and other products.
The Foley Hoag team that advised in the launch of Fund II included Meredith Haviland, Eric Belsley, Ayah Zaidi, Kip Cawley, Silvia Mavares and Julia Dash.
