Braemar Energy Ventures, a leading venture capital investor in energy technology companies, has announced that it has made an investment in Renew Financial, a rapidly growing company that specializes in affordable financing for renewable energy and energy efficiency projects. Specific terms were not disclosed.
Renew Financial announced in early February of this year that it had raised $70 million to expand its clean energy and energy efficiency finance products across the U.S. Apollo Capital Management, Angeleno Group, Claremont Creek Ventures, LL Funds, Inc., NGEN Partners and Prelude Ventures all took part in the new growth capital round. Renew Financial secured additional capital from Braemar immediately following its new growth capital round.
Renew Financial was founded in 2008 by Cisco DeVries, who brought together a multidisciplinary team of experts in finance, technology, operations and government policy to innovate the Property Assessed Clean Energy (PACE) financing model. The company specializes in affordable financing for renewable energy, energy efficiency and water conservation projects and is developing an array of financing products that will help move America toward a clean energy model.
Braemar Energy Ventures is a venture capital fund making early- to mid-stage investments in the energy technology sector. The firm's principals have invested in more than 60 companies in the sector and have more than 100 years of combined technical, operational and financial experience in energy and energy-related industries. Braemar partners with exceptional companies and management teams, in both alternative and traditional energy markets, that can contribute to a more profitable and efficient energy landscape through innovation and marketplace expertise.