CalCEF Angel Fund

FAQs

What is California Clean Energy Fund and what is its interest in early stage investing?

Founded in 2004, the California Clean Energy Fund (CalCEF) is an independent nonprofit corporation working to advance clean energy using tools from finance, public policy and technological innovation. CalCEF believes that a new model of entrepreneurship and financial innovation in the public interest is required to speed the transition to a clean energy economy. Its mission is the serial creation of institutions and investment vehicles that accelerate the adoption of clean energy technologies, along the continuum of innovation to infrastructure. The Fund, employing a pioneering “evergreen” fund-of-funds investment strategy in which profits are reinvested to advance our mission, is lead by seasoned clean energy professionals and is governed by a Board of Directors comprised of leading policymakers, scientists, entrepreneurs and financiers. CalCEF pursues these goals at the local, state, national and international levels via multiple partnerships, in particular with CalCEF Innovations, our affiliated center for the development and implementation of new initiatives.

A core element of CalCEF’s mission is to identify and address gaps in the clean energy funding cycle.  Given the wide and ever increasing gap in investment funding for seed and start up clean energy companies, the launch of the Angel Fund was a natural extension of CalCEF’s approach to the clean energy market.  CalCEF’s domain expertise, its experience in building a clean energy investment portfolio and its relationships with investment managers and clean energy stakeholders position CalCEF to bring critical resources to the Angel Fund.

What is the relationship between the CalCEF Angel Fund and CalCEF?
The Angel Fund and CalCEF are two separate and distinct organizations.  CalCEF is a non-profit mutual benefit corporation and the Angel Fund is a for-profit limited partnership.  CalCEF is the founding limited partner of the Angel Fund and will contribute investment capital and domain expertise to assist the Angel Fund in sourcing, evaluating, selecting and mentoring portfolio companies.  CalCEF will also have one permanent seat on the Investment Committee and one additional seat for the first two years of the Fund’s investment cycle.  CalCEF has also lent its brand name and equity to the Angel Fund.

What is the objective of the CalCEF Clean Energy Angel Fund?
The primary objective of the Fund is to produce a return on investment for its limited partners.  A second and equally important objective is to create a successful financing vehicle providing investment capital to promising seed stage clean energy companies.

What is the investment focus of the Fund?
The Angel Fund will invest exclusively in the clean energy industry, utilizing its unique value proposition for access to robust deal flow, technology analysis and post-investment growth support. The Angel Fund limited partners understand the unique concerns and opportunities facing companies in this market from regulatory requirements to end-user needs. The stage of investment will be seed or start-up businesses.

Will the Angel Fund be California focused?
No.  The Angel Fund will consider investments throughout the United States.  It is noteworthy, however, that as the largest clean energy market in the world, California represents a strong opportunity for the Angel Fund.