Lime Rock New Energy Announces Final Close of Debut Fund
Westport, Conn., November 30, 2021 – Lime Rock New Energy, providers of private equity growth capital to entrepreneurs and companies delivering products and services in the clean energy transition, announces the final close of its debut fund and associated vehicles at approximately $375 million. Lime Rock New Energy targets $30 million to $90 million investments in products and services business primarily in three sectors of the energy transition: renewable power, energy efficiency, and the electrification of transportation. The team is focused on investment opportunities in North America.
The debut Lime Rock New Energy fund had its first close in May 2020. It has completed two portfolio investments: Smart Wires, which provides innovative power flow control technology to utilities and grid operators worldwide; and Qmerit, which is simplifying the adoption of electrification products for residential and light commercial customers in North America.
The Lime Rock New Energy team is led by three managing directors—Mark Lewis, Mark McCall, and Alex Mishkin—and a director, Blair Barlow. The team also leverages the strength of its advisory board: Dr. Ernest Moniz, Dr. Arun Majumdar, Andrea Pinabell, and Dr. Steve Specker. The New Energy team brings specialist new energy domain investing and operational expertise in combination with the 23-year growth equity energy investing history and platform of Lime Rock Management.
Mark McCall said, “We are extraordinarily grateful to both existing Lime Rock investors and the many new investors who have put their faith in us as we launched this effort to pioneer a focused, growth equity strategy in the energy transition.”
Mark Lewis added, “We continue to be excited by our strategy and the opportunities to partner with companies that are debottlenecking the energy transition today, with clear commercial value propositions to customers to deliver products and services cheaper, better, and faster.”
Alex Miskin added, “With our final close, we look forward to accelerating discussions with entrepreneurs and others in the new energy sector to be their investment partner as they seek capital and partnership to achieve their plans in fast-growing energy transition markets.”
For more information, please visit www.www.lrnewenergy.com.