Finsoul has learned of Germany’s Deutsche Bank’s latest joint venture, a first with Masdar, the Abu Dhabi state-owned energy firm, when they recently announced that they had closed their first joint clean tech fund after raising $265 million for investment in low carbon technologies.
The two firms announced that the new fund would be managed by both Masdar Venture Capital and DB Climate Change Advisors and the investment target would primarily be in later stage companies wanting to expand in the clean energy, water and waste management as well as the energy efficiency sectors.
The funds joint investment team will be based in Abu Dhabi, New York and London, and have already begun identifying and evaluating prospective investment opportunities internationally, hoping to announce a number of deals through 2010, FinSoul understands.
Among the funds top investors are Siemens, INPEX CORPORATION, the Japan Bank for International Co-operation, Development Bank of Japan, GE and the Nippon Oil Corporation.
FinSoul believes the global head of Deutsche Bank reportedly said that the scale of fundraising and the involvement of such prestigious backers “demonstrates a profound confidence in climate change investing and in the joint DBCCA and Masdar investment team”.
