Prithvi Sustainability Fund Latest to Enter Cleantech Space

By Narsi Santhanam • Nov 1st, 2009 • Category: Uncategorized

Prithvi Sustainability Innovation and Technology Fund, with a proposed corpus of $150 million, is the newest fund set to make India-centric investments in companies that provide solutions to address air, water and soil contamination. It is promoted by Shankar Rele, CEO of investment advisory ICEStartups.com, and Pramod Sheddy.

Talking to VCCircle, Rele said, they expect a first close of the fund by January 2010 at $100 million and a final close in March. Prithvi is tapping overseas investors including institutions, high networth individuals and hedge funds in the US and UK. The fund is simultaneously in talks with investee companies and will make investments after the first close.

Cleantech sector covers knowledge-based products or services that improve operational performance, productivity, or efficiency while reducing costs, inputs, energy consumption, waste, or pollution.

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Narasimhan (Narsi) has extensive experience in understanding renewable energy markets and strategic levers for success in these markets. His special focus has been his work on the Indian renewable energy industry. His work in the previous 15 years have spanned market and industry research, product management and international sales, and strategic consulting. see more http://www.eai.in/ref/team/ns.html

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