CalCEF Angel Fund Gains Energy Industry Veteran as Fund Manager

SAN FRANCISCO--(BUSINESS WIRE)--CalCEF Clean Energy Angel Fund 1, LP (the CalCEF Angel Fund), announced today that Mr. Matthew Lecar has joined as fund manager. A industry thought leader with a proven 18-year track record in venture capital, new product development, international business development, and management consulting in the energy industry, Lecar served previously at Pacific Gas & Electric Company (PG&E) and Electricite de France (EDF) Group, two of the world’s largest electricity providers. In his new position as Fund Manager at CalCEF Angel Fund, Lecar will direct strategic financial planning and development for the company’s diverse portfolio of early-stage, capital-efficient clean energy companies.

“Matt brings a unique combination of financial management expertise, technical insight and a practical understanding of the energy industry that is rare in the rapidly-expanding cleantech universe”

“Matt brings a unique combination of financial management expertise, technical insight and a practical understanding of the energy industry that is rare in the rapidly-expanding cleantech universe,” said Susan Preston, CalCEF Angel Fund general partner and internationally recognized expert in angel financing. “His experience has already proven him well-suited to spot promising early-stage investment opportunities and position our portfolio companies for strategic growth as they bring product to market.”

Established to bridge the gap in the investment cycle between seed and traditional venture capital funding, the CalCEF Angel Fund provides critical capital to support the commercialization of new, potentially transformational clean energy technologies.

“The mission of the CalCEF Angel Fund aligns perfectly with my own investment philosophy that there are significant opportunities to be found in incremental innovation when you’re looking at a market that’s as large and well-established as the energy industry,” said Lecar. “There are plenty of billion-dollar niches in a trillion dollar market, and we aim to identify and nurture those innovations that stand to deliver real market value with relative speed and capital efficiency.”

Immediately prior to joining CalCEF, Lecar worked as a venture consultant at Trinity Ventures, refining cleantech strategy for one of the most respected names on Sand Hill Road. At PG&E Lecar led new product development from 1998 to 2001. During his five-year tenure at EDF, Lecar helped launch and grow Silicon Valley-based Easenergy, where he was responsible for business development. While at Easenergy he also played major roles in supporting EDF’s investments in Clipper Windpower (AIM IPO 2005) Enerwise (acquired by Comverge in 2007) and Serveron (acquired by BPL Global in 2007). Lecar holds a Master of Public Policy degree from the Harvard Kennedy School, where he focused on energy and environmental policy, and a Bachelor’s Degree with High Honors in Physics and Political Science from UC Berkeley.

About the CalCEF Clean Energy Angel Fund

The CalCEF Clean Energy Angel Fund is a first-in-kind fund dedicated to making market-based returns on seed-and early-stage clean energy companies. The CalCEF Clean Energy Angel Fund targets companies focusing on renewable energy, energy efficiency, energy storage and other products and services designed to enhance the clean energy sector. For more information, go to www.CalCEFangelfund.com.