Virgin Green Fund, billionaire Richard Branson’s cleantech venture fund, added another $20 million from four investors to its now $200 million first fund, according to a regulatory filing. Last month the firm had closed on more than $181 million from 10 investors.
Virgin Green, which focuses on energy and resource efficiency, is targeting growth stage companies in the United States and Europe with investments that range between $15 million and $20 million.
The firm, which has offices in San Francisco and London, has raised the capital from limited partners that include Corvina Holdings Ltd., PCG Clean Energy & Technology Fund, Wolverhampton City Council and Macquarie Clean Technology Fund, according to the filing. Last year, the firm raised $100 million from the Virgin Group, which is the anchor investor in the fund.
Virgin Green Fund has not disclosed the target of the fund, but it is believed to be in excess of $400 million. The firm is raising funds on a rolling basis and may be doing so for some time to come.
Virgin Green is run by Managing Partner Shai Weiss. Weiss previously was with cable operator ntl:Telewest (now known as Virgin Media). Prior to that, he set up the European office of Jerusalem Venture Partners. —Alexander Haislip