Sarsia launches cleantech fund

Norwegian venture group Sarsia has, together with SparebankenVest and BKK, launched Sarsia Cleantech Fund.

The initiative to form the fund came from SparebankenVest, a regional bank in Norway, in November last year. Joining them is BKK, a power company in Western Norway and producer and transmitter of electrical power, as well as the Sarsia Group, including Marin Forvaltning, which has over NOK 900m under management.

The partners plan to raise capital in two rounds, the first round is expected to raise NOK 150-200m from local investors before year end. During 2009 the partners aims to reach a target of NOK 1bn.

The fund will invest in technology companies that focus on renewable energy, energy efficiency improvement and water/air cleansing.

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