GLOBAL - Meidlinger Partners holds $15m first close of cleantech fund

The fund has a target of $100m and has a hard-cap of $125m. The closing comprises $10.75m from cornerstone investor Benchmark Asset Managers. A final closing is expected in the first or second quarter of 2010.

The fund is designed to provide expansion capital to proven companies active in the water, wastewater and energy segments. The fund will seek majority stakes or special rights in its portfolio companies. Around two thirds of investments will be based in the US, with a regional emphasis on the area around Philadelphia.

Meidlinger made its first investment alongside zouk ventures in Triton Water AG, a water treatment company headquartered near Hamburg, Germany.

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