The CalCEF Angel Fund secured investments from a variety of limited partners including institutional and individual investors. The California Clean Energy Fund (CalCEF), a separate organization established in 2004, is the founding limited partner in the CalCEF Angel Fund.
The CalCEF Angel Fund will finance the seed / startup stage of companies in clean energy sectors including energy efficiency, green buildings, power reliability, and alternative energy. The CalCEF Angel Fund expects its typical investment to be $300,000 – $500,000 and is planning to build a portfolio of 12 – 15 companies.
According to Susan Preston, General Partner for the CalCEF Angel Fund, "The funding gap for seed and startup companies was a driving force behind the establishment of the CalCEF Angel Fund. By supporting innovation in its earliest form, we have a chance to foster the clean energy solutions of the future."
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