1st mile fund
1st Mile has announced the intention to establish the
“1st Mile Fund” which is to invest in clean
energy and environmental technologies.
Investors around the World are expected to invest approx.
$100 bn over the next six years in the sector, but as
it is very immature compared to other sectors, there
is a significant lack of exceptional technologies to
invest in. In other words, investors need developed
deal flow to pick from.
1st mile fund business focus:
At the same time, many universities deliver unique
and outstanding research, but do not have the capabilities
or the entrepreneurial mindset to create businesses
on the research.
The 1st Mile Fund will close this gap and provide VC’s
with high quality deal flow.
The fund will pick the promising technologies at a
very early stage and spend significant amounts of time
to prepare the technologies for investors. The fund
will finance this effort and obtain minority stakes
in the companies, as well as participate in the first
investment round, in which the 1st Mile Fund will participate
with other investors.
The goal is to close the fund at approx. €10 million.
Development work and investments will be done the first
four years.
The fund is expected to close no later than by the
end of 2008.
Interested investors can contact Søren Houmøller
for details.
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