What is California Clean Energy Fund and what is its interest in early stage investing?
Founded in 2004, the California Clean Energy Fund (CalCEF) is an independent nonprofit corporation focussed on accelerating clean energy development at the intersection of policy, technology and finance. CalCEF's mission is the serial creation of institutions and investment vehicles that accelerate the adoption of clean energy technologies, along the continuum of innovation to infrastructure.
A core element of CalCEF’s mission is to identify and address gaps in the clean energy funding cycle. CalCEF identified a funding gap at the seed and early stage of company development, and therefore created the CalCEF Angel Fund.
As the founding Limited Partner, CalCEF brings a deep understanding of the clean energy market; access to industry, researchers, policy makers and government; and membership of a family of funds serving all stages and types of clean energy finance.
What is the relationship between the CalCEF Angel Fund and CalCEF?
The Angel Fund and CalCEF are two separate and distinct organizations. CalCEF is a non-profit mutual benefit corporation. The Angel Fund is structured as a for-profit limited partnership like many other venture capital funds. CalCEF is the founding limited partner of the Angel Fund. Other limited partners include large pension funds, wealth managers, foundations and family offices. Neither CalCEF nor the CalCEF Angel money have investment from the State of California. Please see the CalCEF website for details of the history and source of CalCEF funding.
What is the objective of the CalCEF Clean Energy Angel Fund?
The Fund objective is to deliver venture capital returns to Limited Partners from investments which transform the clean energy economy.
What is the investment focus of the Fund?
The Angel Fund deploys deep industry networks and experience to target capital-efficient companies focusing on renewable energy, energy efficiency, energy storage, and related products and services. The stage of investment is seed or early stage businesses. There is no geographic limitation, but early stage investing tends to be "hands on" and has therefore been limited to the US. The Fund has invested in companies from California, Colorado and Tennessee.
Will you invest in my company?
The Fund is currently focused on the existing portfolio and is not making making new investments,