The investment bank put the money into cleantech funds at Draper Fisher Jurvetson, VantagePoint Venture Partners, and Nth Power, among others, and says it has a “commitment pending” at Technology Partners, said Scott Barrington, director of private equity at Piper Jaffray.
The Piper Jaffray fund is one of the first handful of so-called “funds of funds” in cleantech, joining banks such as Robeco, Goldman Sachs, and the Credit Suisse Group. Funds of funds allow institutional investors to diversify by investing in a portfolio of cleantech funds, each containing their own portfolios of cleantech companies.
The Piper Jaffray fund represents market recognition that cleantech is becoming mainstream, said David Lincoln, a founder and managing partner for DFJ Element, Draper Fisher Jurvetson’s cleantech fund. "
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