Boston-based HarbourVest Partners hopes to take advantage of the capital shortage in the space with its 2nd cleantech fund of funds, called the Cleantech Fund II. The fund is focused on growth equity and small buyout funds in the clean-technology sector, says Scott Voss, the firm’s managing director, as reported in the Wall Street Journal.
The firm has already closed on about $105 million for the fund, and plans to raise $250 million in total. Since 2008, the firm has committed $140 million to cleantech and has invested in a fund managed by Braemar Energy Ventures.
In addition to investments in U.S. and Europe, HarbourVest is also active in Asia. In 2012, the firm was voted Fund of Funds of the Year in North America and #2 Fund of Funds in Asia by readers of Private Equity International, an industry magazine.