Saturday, 30 May 2015
Last updated 17 hours ago
Nov 16 2009 | 12:01pm ET
Philadelphia-based venture capital firm Meidlinger Partners closed a first round of funding for its Sustainable Investments fund.
Meidlinger contributed $4.25 million to the round, while founding investor Benchmark Asset Managers is expected to add an additional $10.75 million toward the fund’s target of $100 million.
According to a Meidlinger statement, the fund provides “expansion capital to proven companies in the lower market with solutions to solve the world’s water, wastewater and energy problems.”
Kevin Brophy, Meidlinger co-founder and CEO, said, “The lower market is the sweet spot where operational, industrial and technical support can act as a catalyst to propel portfolio companies to the next level. Since January 2009, we have seen 560 such cleantech investment opportunities, of which we are tracking more than 100 and taking a close look at five. Many of these fit into the attractive water/energy nexus space.”
Dr. Karen Meidlinger, managing principal and co-founder of the VC firm, said Meidlinger employees are “excited to roll up our sleeves and become an integral part of our portfolio companies as a financial, strategic and operational partner.”
Meidlinger made its first investment in Triton Water AG, an advanced water treatment company headquartered near Hamburg, Germany.
May 27 2015 | 2:15pm ET
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