Thursday, June 5, 2008

RockPort Capital closes $450M third clean tech fund

By Mass High Tech Staff

RockPort Capital Partners says it has closed its third venture capital fund, pulling in commitments of more than $450 million to be focused on clean technology investments.

According to officials at the Boston-based venture firm, RockPort’s Fund III will invest in emerging clean tech companies to help them in the development of technology and products.

With the latest fund, Rockport has nearly $850 million under management. RockPort Capital Partners, with offices in Boston and Menlo Park, California, has invested in nearly 40 clean tech companies since it was founded in 2000.

RockPort’s first fund of $125 million was invested in 18 companies, including Evergreen Solar Inc. (Nasdaq: ESLR) of Marlborough and Aspen Aerogels Inc. of Northborough. The firm closed its second venture capital fund with commitments of $261.15 million in January 2006.