Switzerland-based venture capital firm Emerald Technology Ventures added energy company Suncor Energy, water and hygiene services provider Ecolab and diversified conglomerate SK Group, to the limited partners for its third fund on Tuesday.
The fund, Emerald Cleantech Fund III, is now sized at almost $100m, according to Bloomberg. It focuses on cleantech companies and made its first investment in June 2013, in Finland-based industrial enzyme producer MetGen.
The three corporates will join existing investors in the fund that include chemical producers Evonik Industries and Clariant, and power and automation company ABB, though Emerald has not disclosed the amount invested by each backer.
“As the first Korean investor in an Emerald fund, we are pleased to join such a well-respected team and investor base,” said B.S. Kwak, SK Group’s president of global technology. “Emerald is recognised for its breadth in technology and market competence as well as its corporate investor services.”
Larry Berger, Executive Vice President and Chief Technical Officer at Ecolab, said: “Emerald’s track record in identifying and building new innovations and industry leaders will help us to further enhance our own innovation portfolio.”