Fiorello's Sister
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China Environment Fund 2004 |
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Monday, 03 March 2008 |
Fiorello H. LaGuardia Foundation and its MOSAICO partner e³V worked with Tsinghua Venture Capital (THVC) to create China Environment Fund 2004, LP (CEF 2004), with a focus on renewable energy, energy efficiency, and other environmental technologies. MOSAICO assisted THVC to secure funding for the setup costs of the $30 million fund and to raise additional capital from European sources, supplementing the investment of the anchor investors, Hong Kong-based Leading Environmental Services and Solutions and the Asian Development Bank. The fund is a Cayman Island-domiciled venture capital fund with a target rate of return on its triple bottom line investments of 25%.
CEF 2004 invests in non-listed companies possessing proprietary products, technologies or services that are marketable and competitive in China. Through its first six months, nearly half of its candidate investments have been in the renewable energy/energy efficiency sector, including a photovoltaic cell manufacturing company, an energy efficiency company manufacturing electronic controls, and two biodiesel processing companies.
THVC is the venture capital arm of Tsinghua University. As China’s most prestigious and influential university, with 15 national laboratories and 60,000 alumni, including President Hu and ex-Premiere Zhu, Tsinghua University is a significant technical and political resource for THVC. Established in 2000, THVC has three funds under management, with 25 portfolio companies. It is ranked 8th among all domestic VCs, and 18th among the 300 VCs that operated in China in 2003. CEF 2004 is the biggest private equity fund fully dedicated to the environment sector in China.
For more information about this Fund, please visit www.cefund.com. |
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