PRINT THIS PAGE US NextGen materials venture fund announces final closing12/07/2002. Source: AltAssets. 
 NextGen Partners have announced the final closing of their NextGen Enabling Technologies Fund with more than $55m of commitments.
The fund, which had a first close more than a year ago, focuses solely on materials.
‘NextGen has established a modus operandi that is somewhat different from traditional venture capital models. Firstly, the fund has an exclusive focus on emerging opportunities in the materials space, a space that has, in our view, been under-served by the venture capital community,' said Peter S H Grubstein, one of the fund's general partners.
‘Secondly, our limited partners are predominantly major corporations, with business interests in the materials and chemicals sectors. These companies represent a tremendous asset in expediting the commerciality of science,' he said.
The fund's LPs include DuPont, Air Products and Chemicals, BASF, Bayer, BHP Billiton, Boeing, DSM, Schott Glas, and Unilever.
NextGen has already made a series of investments, adding Catalytic Solutions, Optiva, Oxonica, and Agile Materials to its portfolio over the course of the past 12 months.
Copyright © 2002 AltAssets
|
