Piper Jaffray beats cleantech target

Piper Jaffray closed $62.5 million for its cleantech fund of funds investment vehicle, according to a regulatory filing. PE Week reported the firm had raised $31.8 million towards a $50 million target in October. The firm has tripled its investor base to 96 since then.

The executive officers listed in the filing come from Piper Jaffray’s fund-of-funds team: Scott Barrington, Danny Zouber and Daniel Donoghue. The fund is already a limited partner in VantagePoint Cleantech Partners’ $150 million fund, which held a $73.6 million close last August.

The Piper Jaffray website says it has been investing in the sector for the last two years. The firm has also invested in DFJ Element and Nth Power.