At Cleantech Syndicate, leave the guns, take the renewables

The Cleantech Syndicate is a consortium of 11 prominent American families formed to share capital, knowledge and contacts within the clean technology investment community. Will it make waves?

"Just when I thought I was out...they pull me back in."

McNally Capital and Black Coral Capital announced on Wednesday the formation of the Cleantech Syndicate, a (fully legal, despite my cheeky Godfather references above) consortium of 11 prominent American families formed to share capital, knowledge and contacts within the clean technology investment community.

The families, which represent a collective net worth of more than $30 billion, hired an investment team of 17 with plans to invest $1.4 billion of private capital in cleantech companies over the next five years.

Before forming, the group already had more than $1.2 billion in cleantech investments under its collective belt.

The point, like any syndicate, is to combine forces to have a greater effect on a market. In this case, it's to gain traction in a nation that largely has no roadmap for green industry.

The group includes developers of utility-scale wind and solar generation facilities, founders of solar technology companies and owners and operators of major real estate industrial vehicle fleets who seek efficiency.

"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," McNally managing partner Ward McNally said in a statement. "Family offices with deep and complementary expertise in an industry have a unique investment advantage, especially given their indeterminate hold period."

Capisce?

In addition to straight investment, the syndicate is working to establish a network of partners to support its efforts. Among the targets: corporations, sovereign wealth funds and endowments.

And since we live in an era of globalization, the syndicate plans to launch a European counterpart to complement its Stateside activity, as well as an American co-investment vehicle to allow select non-members to invest.

This post was originally published on Smartplanet.com