Monty Bannerman
ArcStar Energy
646.402.5076
www.arcstarenergy.com
New Cleantech Syndicate to Invest in Clean and Renewable Energy Space;
Eleven Families Form a $1.4 Billion "Virtual Private Equity Fund"
McNally Capital, LLC and Black Coral Capital announced today the formation
of the Cleantech Syndicate, a consortium of 11 prominent families from
across the United States representing a collective net worth in excess of
$30 billion. The Cleantech Syndicate was formed to enable its members to
share capital, deal flow, knowledge and networks as they continue to invest
in and support Cleantech companies. The members, and their collective
investment team of 17 dedicated professionals, plan to invest $1.4 billion
of their private capital in Cleantech companies over the next five years.
This is the largest pool of dedicated capital to the Cleantech space.
Prior to the Syndicate's formation, over the past five years its members and
their affiliates have collectively invested over $1.2 billion directly into
privately held Cleantech businesses and have been important investors in
some of the most notable Cleantech success stories. The backgrounds of the
members include: developers of utility-scale wind and solar generation
facilities, founders of solar technology companies, and owners/operators of
large real estate properties and fleets of industrial vehicles looking to
enhance efficiency. They have extensive operating and investment experience
across all subsectors and stages of Cleantech investing, from seed-stage
venture capital to project finance.
"The Cleantech Syndicate is the first vehicle of its kind to fully tap into
the collective expertise of multiple families," said Ward McNally, managing
partner of McNally Capital. "By working together and sharing capital and
investment opportunities, the Syndicate's members can achieve exceptional
scale and act cooperatively to accomplish their long-term investment
objectives. Family offices with deep and complementary expertise in an
industry have a unique investment advantage, especially given their
indeterminate hold period."
Christian Zabbal, managing director of Black Coral, added: "Families have
been investing in the Cleantech space for many years. The Cleantech
Syndicate is a natural evolution for us - a way to pool our experience and
networks with those of other like-minded family offices and create
partnerships that will support better, stronger Cleantech and green energy
companies."
The Syndicate members are active, long-term capital partners for management
teams seeking operational value-add from highly knowledgeable investors. The
Cleantech Syndicate is establishing a network of partners to support their
efforts, including corporations, sovereign wealth funds, endowments and
other parties interested in collaborating with the Cleantech Syndicate for
knowledge, access and capital. Later this year, the Cleantech Syndicate
plans to launch a European Cleantech Syndicate, as well as a U.S.
co-investment vehicle that will allow selected non-Syndicate members to
invest alongside the members.
About McNally Capital
McNally Capital works directly with family offices to help them make and
manage their investments in private companies and private equity funds. The
Firm also invests alongside its clients through direct co-investment and
through its proprietary fund vehicles. At the core of everything the firm
does is an extensive network of more than 350 family offices, which
generates unparalleled access to capital and expertise. For more information
please visit: www.mcnallycapital.com .
About Black Coral Capital
Black Coral Capital is a family office which invests in funds, companies,
and projects in the Cleantech and renewable energy space. Black Coral
Capital backs superior management teams across a number of areas such as
energy efficiency and the solar supply chain, and invests at all stages of
growth from early stage to growth capital. For more information please
visit: www.blackcoralcapital.com .
About The Cleantech Syndicate
The Cleantech Syndicate was co-founded by McNally Capital, LLC and Black
Coral Capital to bring large, sophisticated Cleantech investors together to
share capital, deal flow, knowledge and networks to promote and increase
their support of clean energy companies. To date, the 11 members of the
Cleantech Syndicate have collectively invested over $1.2 billion and are
seeking to invest an additional $1.4 billion directly into other clean and
renewable energy companies. The members have extensive operating and
investment experience across all subsectors and stages of Cleantech and are
interested in investing directly into companies where they can bring value
to management teams. For more information please visit:
www.cleantech-syndicate.com
Sent via BlackBerry from T-Mobile
No comments:
Post a Comment