SAN FRANCISCO, CA - May 3, 2019 (Investorideas.com Newswire) The Ecosystem Integrity Fund (EIF), a sustainability-focused early growth stage investment firm, has announced the close of its third fund at $100 million in commitments.
This is one of the largest sustainability-focused funds of its kind and the largest to date for 2019.
EIF III has made six investments thus far and has a signed term sheet for a seventh. Investments include: EV Connect (EV charging); eMotorWerks (EV charging demand management, acquired by Enel); Pegasus Solar (solar mounting); Opti (water management); Flying Embers (probiotic adult beverages) and Bluon Energy (efficient HVAC). Fund III will make up to eight investments.
EIF studies target areas to identify opportunities where a pressing business need overlaps with a sustainability problem. The investment firm targets companies with proven technology and commercial traction.
The EIF team has been investing together for over a decade, making it one of the longest tenured sustainability-focused venture capital funds. EIF is responsible for five of the most successful venture exits in sustainability-related companies, led by ZepSolar in 2013. EIF Fund I launched in early 2011, manages $19.6M, and is fully invested/allocated to six portfolio companies. Fund I has had two exits to date. As of September 30th, 2018, Fund I had a net to LP IRR of 34.4% and a DPI of 1.84x, placing Fund I as the #1 ranked 2011 venture fund Cambridge Associates U.S. Venture Capital Benchmark Index, Q3 2018). EIF Fund II launched in 2014, manages $57M, and is fully invested/allocated to six portfolio companies.
"We seek to invest in areas that have not received sufficient investor attention," said James Everett, managing partner, Ecosystem Integrity Fund. "The movement toward environmental sustainability is making incremental improvements to the largest industries in the world. Sustainability is fundamentally about making things better: more efficient, more functional, less toxic, less costly."
"EIF is more than just an investor or strategic advisor", said Jordan Ramer, founder and CEO, EV Connect. "They are with you every step of the way and quite simply, they just get it. It's critically important for us to partner with a fund that has like-minded investments looking to have real impact in sustainability."
About Ecosystem Investment Fund (EIF)
EIF is a venture capital firm that invests in early-stage companies contributing to environmental sustainability. The firm has raised over $175 M for sustainability-focused investment. Based in San Francisco and led by Managing Partners James Everett and Devin Whatley, and Partners Geoff Eisenberg and Sasha Brown, the team has been investing together for a decade, and is responsible for 5 of the most successful venture exits from sustainability- related companies. The firm just closed on its third fund, with $100 M in commitments. For more information, visit: www.ecosystemintegrity.com
Mulberry & Astor
Ecosystem Integrity Fund
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