Tag Archives: NewWorld Capital Group

Details Emerge on NewWorld Capital Group, Eyeing $100M Starter Fund

Carter Bales, founding partner of NewWorld Capital Group

NewWorld Capital Group, the cleantech-focused private equity fund, which launched yesterday, is looking to raise up to $100 million for a starter fund, co-founder and Chairman       Carter Bales tells us.

“If we were going to go ahead with this we would hope to do it next year,” Bales explains. “We’ve not made a final decision.” The company plans to raise capital for the fund from family offices and some institutional investors.

By the end of next year the fund would then move to raise a fund worth $500 million. Continue reading Details Emerge on NewWorld Capital Group, Eyeing $100M Starter Fund

The Week In Green Energy: Offshore In the USA…

Week of April 26 – to – April 30, 2010

It took nine long years and multiple setbacks fueled by passionate opposition from local residents for Boston-based developer Cape Wind to clinch the holy grail: a federal permit to construct the first U.S. offshore wind-generated power plant.

Interior Secretary Ken Salazar, making the announcement in Boston, conceded that his decision would not please everyone on nearby Cape Cod, where residents will have the best view of the 130 Siemens offshore wind turbines to be deployed across the Nantucket Sound.

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The Week In Green Energy: Offshore In the USA?

Week of April 26 – to – April 30, 2010

It took nine long years and multiple setbacks fueled by passionate opposition from local residents for Boston-based developer Cape Wind to clinch the holy grail: a federal permit to construct the first U.S. offshore wind-generated power plant.

Interior Secretary Ken Salazar, making the announcement in Boston, conceded that his decision would not please everyone on nearby Cape Cod, where residents will have the best view of the 130 Siemens offshore wind turbines to be deployed across the Nantucket Sound.

Continue reading The Week In Green Energy: Offshore In the USA?

Details Emerge on NewWorld Capital Group, Eyeing $100M Starter Fund

 

Carter Bales, founding partner of NewWorld Capital Group

NewWorld Capital Group, the cleantech-focused private equity fund, NewWorld Capital Group, the cleantech-focused private equity fund, which launched yesterday, is looking to raise up to $100 million for a starter fund, co-founder and Chairman Carter Bales tells us.

“If we were going to go ahead with this we would hope to do it next year,”

Bales explains.

“We’ve not made a final decision.”

The company plans to raise capital for the fund from family offices and some institutional investors. By the end of next year the fund would then move to raise a fund worth $500 million. So far NewWorld has raised operating capital – “enough to last us a couple of years,” Bales says — from its founding partners and a couple of outside individual investors, including partners at PE funds General Atlantic and Good Energies. Bales, a longtime McKinsey consultant who founded the environmental practice at the firm, said NewWorld Capital wants to avoid the Bermuda triangle that left a lot of promising cleantech startups on the sidelines, unable to transition from the lab into a full fledged commercial operation. It plans to do that by investing in companies that have “a management team in place, cash flow and prospect for growth,” he explains. NewWorld says it could make some initial investments as part of a private equity club deal. Is it close to announcing a transaction?

“We’re looking at a few opportunities but nothing we can comment on,”

Bales answers. Yesterday, Bales told the New York Times’ DealBook that there is only $3 billion in private equity capital right now pledged to companies in the sector. He believes the sector is worth $300 billion. Bales is launching NewWorld with Bradley Abelow, former chief of staff to New Jersey Gov. Jon Corzine and a Goldman Sachs veteran, Bill Hallisey, of GSC Group, Ali Iz, a partner with CMEA Capital and Everett Shah, of New Energy Capital.” which launched yesterday, is looking to raise up to $100 million for a starter fund, co-founder and Chairman Carter Bales tells us.

“If we were going to go ahead with this we would hope to do it next year,”

Bales explains.

“We’ve not made a final decision.” The company plans to raise capital for the fund from family offices and some institutional investors.

By the end of next year the fund would then move to raise a fund worth $500 million. Continue reading Details Emerge on NewWorld Capital Group, Eyeing $100M Starter Fund