Global cleantech money for Abu Dhabi
The DB Masdar Clean Tech Fund, a private equity fund jointly set up by Abu Dhabi’s energy group Masdar and Deutsche Bank, has raised $265 million for its first close from globally well-known LPs, including Credit Swiss, Siemens, Japan Oil Development Co., Nippon Oil Corp., the Development Bank of Japan and GE.
The fund will seek investment opportunities in expansion to late stage cleantech and renewable energy companies in the UAE. “We understand both the financial and social value of companies that are tackling global environmental challenges; we are committed to supporting them by providing capital investment and management expertise,” said Sultan Ahmed Al Jaber, CEO of Masdar.
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