Masdar Clean Tech Fund is a $250 million diversified venture capital investment vehicle that will build a portfolio of clean technology funds, direct/co-investments and joint venture investments.
The Fund is made-up of commitments from the following: (i) Abu Dhabi Future Energy Company ("ADFEC"), (ii) Consensus Business Group ("CBG"), (iii) Credit Suisse ("CS") and (iv) Siemens AG.
The Fund will develop a portfolio of fund investments, committing approximately $60 million to 3-5 fund managers. The remaining Fund capital will be invested in co-investments alongside fund managers and direct investments in companies sourced by the Fund. The Fund will seek to invest in companies with technologies that are suitable for commercialization in the United Arab Emirates.
Credit Suisse, the General Partner and one of the leading managers of private equity fund of funds and co-investments, will manage the Fund in collaboration with the partners. The Fund will leverage Credit Suisse's and the partners' investment expertise as well as Credit Suisse's broad private equity and investment banking platform for sourcing, selecting and adding value to investment opportunities for the Fund. In addition, the Fund will leverage Abu Dhabi's larger alternative energy initiative, known as the 'Masdar initiative' that was launched in March 2006. The Masdar initiative is Abu Dhabi's multi-faceted response to the need for a global focus on resource conservation and the alternative energy sector. It is designed to ensure in the long-term that Abu Dhabi retains, and even grows, its share of the global energy market. The Fund will focus on the development and commercialization of technologies in renewable energy, energy efficiency, carbon management and monetization, water usage and desalination. It is the expectation of the UAE government that the Masdar initiative, as well as other governmental entities, will be called on to support Fund portfolio managers, companies and joint venture participants that wish to commercialize products in the UAE.
