Technology Partners Announces $300 Million Fund VIII to Invest in Cleantech and Life Science

PALO ALTO, Calif.--(BUSINESS WIRE)--Technology Partners, a Palo Alto, California-based venture capital firm investing in Cleantech and Life Science, announced the formation of Fund VIII capitalized at $300 million. Fund VIII will be equally directed toward Cleantech and Life Science companies—a strategy the firm has leveraged successfully in the past. Technology Partners will continue to invest in seed, early-stage and later stage opportunities.

“We are starting to see the role of the consumer grow in areas as diverse as orthopedics and obesity. There are rich opportunities to combine healthcare innovation with novel insights into serving consumer needs”

Technology Partners’ Cleantech investments primarily focus on energy technology, water technology and advanced materials. Life Science investments focus on opportunities in neuroscience and lifestyle therapies—in areas ranging from aesthetics to obesity to women’s health. Technology Partners is also uniquely positioned to take advantage of convergence opportunities that require experience in both Cleantech and Life Science, such as the next generation of biofuels and biomaterials.

Technology Partners’ team includes General Partners Ira Ehrenpreis, Roger Quy, Jim Glasheen and Sheila Mutter; and Ted Ardell as a Venture Partner. Collectively, the partners’ long history in the Cleantech and Life Science sectors affords the firm not only deep experience and a long-standing reputation in these areas of investment, but also an extensive and powerful network of contacts.

General Partner Ira Ehrenpreis leads the Fund’s investments in Cleantech. A recognized leader in the industry, Ehrenpreis has served as Chairman of the Clean-Tech Investor Summit in 2005, 2006 and 2007 and is the former Chairman of the Advisory Board of the Cleantech Venture Network. He is also a leader in the venture capital community, currently serving as a member of the Board of the National Venture Capital Association and the Board of the Western Association of Venture Capitalists. He also serves as the Chairman of both the VC Network and the YVCA, two venture industry associations comprising more than 1,000 venture capitalists. Notable previous investments include Imperium Renewables–a company that raised one of the largest private financings in Cleantech history and which has now filed for an Initial Public Offering.

“Our Cleantech practice focuses on solving some of the most important problems of the 21st century,” said Ehrenpreis. “Cleantech remains one of the most revolutionary and transformative areas within the venture asset class as we begin to see innovative technologies tackle the world’s critical energy and water problems.”

General Partner Roger Quy founded the firm’s Life Science investment practice in 1989. Quy is a member of the Neurotech Industry Advisory Board and a recipient of a Neuroscience Industry Award. He is also on the Board of the Western Association of Venture Capitalists. Quy holds a PhD in neuroscience and was a post-doctoral Research Fellow at the Queen Square Institute of Neurology in London. Previous investments include seeding the spin-out from Genentech of Rinat Neuroscience, which Pfizer acquired in 2006 for a record transaction.

“Current therapies for neurological disorders mostly treat symptoms, not the underlying causes. We want to help engender the next generation of therapies,” said Quy. “With our investment in neuroscience, we believe the brain is the next frontier of medicine."

General Partner Jim Glasheen, is a 17-year Life Science industry veteran. He is an advisor to the Small Business Innovation Research Program of the National Science Foundation and he serves on the Advisory Board of the Lester Center for Entrepreneurship at the University of California, Berkeley. Glasheen holds a PhD in biology. His research has been highlighted in media such as Scientific American, The New York Times and CNN. Previous investments include Cadence Pharmaceuticals, a company that completed an Initial Public Offering seven months after the investment.

“We are starting to see the role of the consumer grow in areas as diverse as orthopedics and obesity. There are rich opportunities to combine healthcare innovation with novel insights into serving consumer needs,” said Glasheen.

Investors in Fund VIII include foundations, endowments, fund-of-funds, financial institutions and pension funds. In addition to returning investors from prior funds, Fund VIII added several new institutional investors from the US and Europe.

Since the formation of the Fund, Technology Partners has already invested Fund VIII in four companies, including two Cleantech companies: Tesla Motors Inc and a stealth solar company; and two Life Science companies: Nfocus NeuroMedical Inc and SpectraGenics Inc.

About Technology Partners

Founded more than 20 years ago as a private venture capital firm, Technology Partners currently manages a total of more than $750 million of investment capital. Technology Partners' investment strategy is to team with visionary entrepreneurs to build successful new companies, serving principally as a lead investor and business advisor to both Cleantech and Life Science companies. For more information, visit www.technologypartners.com.