Thursday, 27 October 2016
Last updated 6 hours ago
Oct 20 2009 | 2:24pm ET
The new vehicle, the Par Sustainability Fund I, is slated to launch early next year and will initially focus on investments in wind projects, coal bed methane and coal mine methane, power management, and geothermal energy.
The new fund will make investments of up to £5 million in each company in which it invests.
“We welcome this opportunity to work with a leading player in the rapidly evolving alternative energy space,” said Paul Munn, managing partner of Par Equity.
“This partnership is consistent with the Par Equity model of adding value to our investments by having expertise which can be deployed within investee companies to accelerate and increase the ultimate value created. We are already evaluating a number of opportunities and look forward to completing our first joint transaction in due course.”
Nial McCollam, managing director of Senergy Alternative Energy, added: “This is an exciting opportunity to capitalize on the investment opportunities to which we often have favorable access.”
Par Equity was formed in May 2008 with the objective of developing a platform where young companies can gain access both to finance and the experience of highly-successful entrepreneurs. The firm currently manages the £15 million Par Innovation Fund, and has also created a syndicate of angel investors to invest in early-stage companies.