UK Investment Fund Named Europe's Most Active
Recently released league tables compiled by Clean Energy Pipeline suggest that the Low Carbon Innovation Fund (LCIF), managed by energy and environment merchant bank Turquoise International, was the leading European venture capital and private equity investor in the cleantech sector in 2013 (based on deals completed).
The Clean Energy Pipeline Global League Tables 2013, which rank the most active financial advisors, investors, law firms and project debt finance arrangers in the global clean energy sector, recognise LCIF and Turquoise as operating at the forefront of the sector.
Ian Thomas, managing director at Turquoise International, comments: "We are delighted to have been placed so highly again in these rankings. In a year which saw overall investment in the global clean energy sector fall, LCIF invested in 11 companies, including Anvil Semiconductors, AMiHo, Green Energy Options and Push Energy.
"Being ranked as the number one cleantech investor by deals completed in 2012 and 2013 according to Clean Energy Pipeline, confirms our strong market position and commitment to the clean energy sector."
LCIF is a venture capital fund which is managed by Turquoise on behalf of the Adapt Low Carbon Group at the University of East Anglia and supported by the European Regional Development Fund (ERDF).
Following a recent amendment to the fund's criteria and expansion in the resources being made available, the LCIF now has more than £20M of ERDF funding that will be combined with some £30M of private sector capital to generate more than £50M of low carbon investments.
The LCIF runs until December 2015, and makes early-stage equity investments in small and medium sized enterprises within the East of England that are developing new and innovative products or processes in a low carbon, environmentally sensitive manner. It has supported 26 funding rounds totalling nearly £10M over a period of more than three years.
