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EnerTech Capital raises nearly $120m for fourth fund

11 Sep 2013

dollar_money_bag_170sqVenture capital firm EnerTech Capital has held a final close of nearly $120m for its fourth fund.

The fund has received commitments from US and Canadian LPs including Alberta Enterprise, Export Development Canada, Teralys, Business Development Bank of Canada, Southern UTE, and the State of Maryland.

It has also been backed by Canadian investment firm BDC Venture Capital, which invested $20m.

EnerTech said the fund will follow the same strategy as its predecessors, investing in oil and gas technologies, water remediation through to emerging new energy software and grid technologies and other segments of the energy sector.

The firm has already made four investments from the new vehicle including N-Dimension, Space-Time Insight, HPC Energy and Distech Controls.

EnerTech managing director Wally Hunter said, “We believe that maintaining our broader energy technology focus will continue to provide significant new investment opportunities for the new fund.

“Our strong presence in Canada in the major provincial markets of Alberta, Ontario and Quebec provides us with significant proprietary deal flow for the new fund in addition to strong US deal flow.

“We are also pleased to have numerous strategic investors in our new fund who will add significant value to our portfolio companies and proprietary deal flow for the fund.”

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