Australia-based investment bank Macquarie has invested at least $20m in US-based industrial engine parts supplier Fallbrook Technologies as a new investor and part of the portfolio company’s $39m series E round.
Sean McIntyre, a managing director at Macquarie, which organizes infrastructure funds in clean-tech, will join the Fallbrook’s board. He said: "The financing is consistent with Macquarie’s approach to providing strategic capital to clients to enable them to pursue growth initiatives."
Other new investors in the E round included China-based parts supplier Ningbo Shentong Auto Decorations and Switzerland-based asset manager Sustainable Asset Management (SAM).
Venture capital firm NGEN Partners and Netherlands-based Robeco, an asset management subsidiary of Dutch bank Rabobank that has a joint venture with SAM, reinvested in Fallbrook as part of the E round consortium.
Fallbrook has now raised $95m in aggregate since launch, including $25.4m in January last year and $16m in its series C round in August 2006 from 87 angel investors at a $120m pre-money valuation.