Cleantech VC VantagePoint launches $100 million fund in China
Cleantech venture capital firm VantagePoint Venture Partners on Tuesday announced that it was launching a $100 million fund aimed at green technology and financial services in China.
The fund will focus on investment opportunities in the city of Tianjin and the surrounding Bohai Rim region.
"China is one of the key places where the global cleantech future is being defined," VantagePoint CEO Alan Salzman said in a statement. "The country is a world leader in terms of investment in clean energy, and the Tianjin-Bohai Rim region is at the heart of this cleantech revolution."
VantagePoint is one of the earliest VCs to invest in cleantech, and has since been a major player in the space, with more than $1 billion invested in the sector, for companies specializing in LED lighting, green building, power generation, the smart grid, energy storage, waste-to-energy and electric vehicles.
The firm has had an office in Beijing since 2007, and earlier this year launched with the China Beijing Environment Exchange a benchmark for low carbon business, the China Low Carbon Index.
The fund will be managed in conjunction with Tianjin Hi-Tech Holding Group and Tianjin Binhai Development Investment Holding Co.
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