Black Coral Capital
Encyclopedia
Black Coral Capital is a venture capital
firm focused on companies in the clean technology
and renewable energy sector. Black Coral is the Cleantech arm of a larger investment vehicle in the oil and gas sector. As such, it has a particular interest in opportunities that leverage some of its core businesses: energy efficiency, storage, and natural gas
. Other fields of interest are renewable energy
, water, and waste management.
Black Coral has a broad mandate that includes early stage capital, growth equity
, project finance and indirect investments –acting as Limited Partner
for other Clean Tech VCs–.
As a General Partner
, Black Coral has coinvested alongside Bessemer Venture Partners
, Flybridge Capital Partners, Kleiner Perkins Caufield & Byers, and Vantagepoint Venture Partners, among others.
The firm has offices in Boston, New York, and Montréal.
On June 22, 2011, Black Coral Capital and McNally Capital announced the formation of the Cleantech Syndicate, a consortium of 11 prominent families from across the United States representing a collective net worth in excess of $30 billion. The Cleantech Syndicate was formed to enable its members to share capital, deal flow, knowledge and networks as they continue to invest in and support Cleantech companies. The members plan to invest $1.4 billion of their private capital in Cleantech companies over the next five years.
This is the largest pool of dedicated capital to the Cleantech space,
Venture capital
Venture capital is financial capital provided to early-stage, high-potential, high risk, growth startup companies. The venture capital fund makes money by owning equity in the companies it invests in, which usually have a novel technology or business model in high technology industries, such as...
firm focused on companies in the clean technology
Clean technology
Clean technology includes recycling, renewable energy , information technology, green transportation, electric motors, green chemistry, lighting, Greywater, and many other appliances that are now more energy efficient. It is a means to create electricity and fuels, with a smaller environmental...
and renewable energy sector. Black Coral is the Cleantech arm of a larger investment vehicle in the oil and gas sector. As such, it has a particular interest in opportunities that leverage some of its core businesses: energy efficiency, storage, and natural gas
Natural gas
Natural gas is a naturally occurring gas mixture consisting primarily of methane, typically with 0–20% higher hydrocarbons . It is found associated with other hydrocarbon fuel, in coal beds, as methane clathrates, and is an important fuel source and a major feedstock for fertilizers.Most natural...
. Other fields of interest are renewable energy
Renewable energy
Renewable energy is energy which comes from natural resources such as sunlight, wind, rain, tides, and geothermal heat, which are renewable . About 16% of global final energy consumption comes from renewables, with 10% coming from traditional biomass, which is mainly used for heating, and 3.4% from...
, water, and waste management.
Black Coral has a broad mandate that includes early stage capital, growth equity
Growth capital
Growth capital is a type of private equity investment, most often a minority investment, in relatively mature companies that are looking for capital to expand or restructure operations, enter new markets or finance a significant acquisition without a change of control of the business.Companies...
, project finance and indirect investments –acting as Limited Partner
Limited partnership
A limited partnership is a form of partnership similar to a general partnership, except that in addition to one or more general partners , there are one or more limited partners . It is a partnership in which only one partner is required to be a general partner.The GPs are, in all major respects,...
for other Clean Tech VCs–.
As a General Partner
General partner
General partner is a legal term used to describe a person who joins with at least one other person to form a business. A general partner has responsibility for the actions of the business, can legally bind the business and is personally liable for all the business's debts and obligations.General...
, Black Coral has coinvested alongside Bessemer Venture Partners
Bessemer Venture Partners
Bessemer Venture Partners is a private venture capital firm with offices in Silicon Valley, New York, Massachusetts, Israel, China, and India.Bessemer Venture Partners is the longest-standing venture capital practice in the United States...
, Flybridge Capital Partners, Kleiner Perkins Caufield & Byers, and Vantagepoint Venture Partners, among others.
The firm has offices in Boston, New York, and Montréal.
On June 22, 2011, Black Coral Capital and McNally Capital announced the formation of the Cleantech Syndicate, a consortium of 11 prominent families from across the United States representing a collective net worth in excess of $30 billion. The Cleantech Syndicate was formed to enable its members to share capital, deal flow, knowledge and networks as they continue to invest in and support Cleantech companies. The members plan to invest $1.4 billion of their private capital in Cleantech companies over the next five years.
This is the largest pool of dedicated capital to the Cleantech space,