San Francisco , New York and London – April 18, 2007 – Expansion Capital Partners, a dedicated clean technology venture capital firm, today announced a $10 million investment in Clean Technology Fund II, LP, by Palmshore Investments Limited, whose designated investment advisors are Consensus Business Group Limited (Consensus). In addition, Expansion Capital and Consensus have formed a strategic alliance to capitalize on their business synergies. Expansion Capital’s fund now has more than $80 million of committed capital.
Consensus is a globally diversified investment group owned by Vincent Tchenguiz, an internationally respected entrepreneur. Among its businesses, Consensus is one of the UK’s largest private property companies with more than $7 billion in its portfolio. The company’s future growth is focused on its $1 billion technology investment program, which includes investments in leading companies and funds in the CleanTech sector. In the CleanTech area, Consensus is also an advisor to the GP of the Masdar CleanTech fund, which has initial capital commitments of approximately $250 million, including $100 million from Credit Suisse and $100 million from the Abu Dhabi Future Energy Company.
Vincent Tchenguiz , CEO of Consensus remarked: “At the foundation of Consensus’ portfolio is our unique global deal-sourcing network, which ensures that we are exposed to the most innovative and commercially viable environmental technologies. Our investment and strategic alliance with Expansion Capital Partners will play a key role in Consensus’ North American CleanTech strategy. We are excited to work closely with their experienced team, as we look to uncover compelling opportunities within CleanTech. Importantly, Expansion Capital’s dedicated focus on expansion-stage enterprises will provide immediate synergies with our global businesses and partnerships.”
Mark Donohue , the founder of Expansion Capital and a General Partner, stated: “Our alliance with Consensus will enhance our value-add to our portfolio of CleanTech enterprises. Consensus has an exceptional team of investment professionals and worldwide business interests. As the CleanTech market continues to rapidly expand, global business partnerships are crucial to optimizing financial performance.”
Diana Propper de Callejon, a General Partner of Expansion Capital, commented: “Our strategic alliance will deepen both Consensus’ and Expansion Capital’s CleanTech deal flow and market intelligence. Furthermore, Consensus’ co-investment capital will provide us with the opportunity to efficiently execute transactions as large as $25 million, which is a competitive advantage in this burgeoning market.”
About Expansion Capital Partners, LLC
Founded in 2002, Expansion Capital invests venture capital exclusively into expansion-stage, Clean Technology enterprises. The firm targets companies that offer dramatic improvements in resource efficiency and productivity, while creating more economic value with less energy and materials, or less waste and toxicity. Clean Technology Fund II, LP, invests in US and Canadian enterprises with current customer revenues of $2-30 million, combined with solid prospects of attaining $30-$100 million of revenues within 3-5 years. The fund makes initial investments of $3 million to $7 million, with its three Partners taking active, value-add board roles. Expansion Capital has offices in San Francisco and New York.
Further information can be found at http://www.expansioncapital.com or by contacting Lyn Moreno at Expansion Capital Partners, +1 415-788-8802.or [email protected]
About Consensus Business Group Ltd. (Consensus )
Consensus Business Group is a multi-faceted principal investor in a broad range of synergistic activities, including structured finance, commercial/residential real estate and high technology. Consensus also act as Investment Advisor to a private offshore structures and has recommended investments and commitments in excess of $400 million to environmentally orientated companies, projects and funds. Consensus has recommended investments that encompass renewable energy, carbon and emissions reductions, and climate change solutions. Consensus is aggressively increasing its activities, investments and operations in the environment sector
For further information, please contact:
Wayne Keast
Consensus Business Group
+44 20 7355 7777
[email protected]
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Matter Communications, Inc.
978-499-9250, x 226
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