Element Partners Closes $486 Million Cleantech Fund

Element Partners, a private equity firm focused on clean technology investments, today announced the final closing of Element Partners II LP (Element II).  This fund was initially targeted at $400 million, but was oversubscribed and yielded $486 million in committed capital.  Investors include corporate, state and municipal pension funds, university endowments, private foundations, funds of funds, and family offices.

"The successful fundraising further validates our history of providing investors with superior results, and the growing interest in cleantech," said David Lincoln, Managing Partner of Element. "We are extremely gratified by this vote of confidence and look forward to extending our leadership in the global cleantech arena."

Element Partners, which has offices in Radnor, PA and Menlo Park, CA, currently has 22 portfolio companies in sectors including alternative energy, water treatment, biofuels, and green building materials.  Element Partners was founded in 2005 and has more than $800 million in total assets under management.

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Fat Spaniel Technologies Receives $18 Million in Series B Financing

Fat Spaniel Technologies, Inc., a San Jose, California-based company which provides of monitoring and reporting services for renewable energy systems, announced that it closed an $18 million Series B round of financing.

Ignition Partners led this funding round, with follow-on investment from Element Partners and Chrysalix Energy. Other investors in this round were PCG Clean Energy & Technology Fund and Applied Ventures (the VC arm of Applied Materials). 

John Ludwig, founding partner of Ignition Partners, will join Robert L. Puette, David F. Lincoln, Thomas J. Starrs, Mike Walkinshaw and Fat Spaniel President Chris Beekhuis on the company’s Board of Directors.