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Israel Cleantech Ventures has announced the completion of its first fund, a $75 million vehicle that will target alternative energy and other cleantech startups based in or with connections to Israel. Limited partners in the fund include Dutch asset management firm Robeco Private Equity and U.S.-based Piper Jaffray, which will invest alongside family funds and institutional investors based in Europe, the U.S. and Israel. ICV said the fund was significantly oversubscribed, coming in larger than the firm's initial goal of $60 million.

ICV is already two years old and has disclosed seven investments to date. Among them are solar startup Pythagoras Energy, electric car infrastructure company Project Better Place, water purifier Aqwise and lighting systems developer Metrolight. Fuel cell developer CellEra, landfill biogas company Citrine Renewable Energy and wastewater treatment energy producer Emefcy are still in stealth mode. -- Paul Bonanos

See May 5 press release from Israel Cleantech Ventures

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