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Rob Day has left his post at Wilmington-based @Ventures, the venture capital arm of ModusLink Global Solutions, Inc. (Nasdaq: MLNK), to take a partner-level position at Black Coral Capital, a cleantech-focused private equity and venture capital firm with offices in Montreal, Boston and New York.
Day, a principal who specialized in cleantech at @Ventures, will be investing in a broadened scope of asset classes at Black Coral. The firm, backed by a private family office, already invests as a limited partner in private equity firms. Day and managing director Christian Zabbal, who works from Montreal, will begin to make the firm’s first direct investments, ranging from early-stage to late-stage and buyout plays.
Day, who has contributed occasional columns for Mass High Tech, said the move will give him a chance to shape a firm’s investment strategy from the ground up.
“That’s part of the appeal, is being able to step into a situation where we’ll be able to take a fresh look at what’s going on in the (cleantech) industry and what’s working and what’s not working,” Day said.
Day, who is president and co-founder of the Massachusetts-based Renewable Energy Business Network, will remain in Boston in the firm’s newly established office here, located in Government Center.
He declined to give the name of the family office behind Black Coral, or specify the size of the firm’s fund. He said over time, the firm plans to add to its team of investment professionals, which now stands at two.
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