March may have started off with a number of private equity funds closing on $19 billion in new capital, but venture capital funds are also getting into the act. Cleantech investor Altira Group LLC announced the closing of its fifth energy fund with $176 million, while peHUB is reporting that .406 Ventures has closed its debut fund with $167 million in committed capital.
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Altira Technology Fund V LP gives the firm $300 million under management, with the new fund planning to deploy its capital over three years in both venture and buyout energy technology companies that focus on the traditional and renewable energy sectors. Companies in Denver-based Altira's portfolio include micro wind turbine-maker Southwest Windpower; DeepFlex, a manufacturer of pipes for use in deepwater development of oil and gas fields; and RigNet, a provider of voice and video networks to offshore rigs and remote locations.
Meanwhile, .406 Ventures, named for Ted Williams' 1941 batting average, confirmed that the final closing of its initial venture fund came in higher than its $150 million target. The firm has been investing for over a year in early-stage technology companies and has already notched an exit with the sale of portfolio company Health Dialog for $775 million in December. - George White
See fund announcement from Altira
See story about .406 Ventures from peHUB
See Altira's profile from The Deal's VCDeal database
See .406 Ventures' profile from The Deal's VCDeal database
