NGEN Closes New Fund

Santa Barbara-based NGEN Partners has closed a $180M venture capital fund. NGEN said late yesterday that the new fund was over-subscribed, and included both new and returning investors. NGEN invests in clean and sustainable technologies in the material science area. According to NGEN, the firm has already made several investments from the new fund, including SolFocus, Solaria, and Hycrete. The fund is a significant increase from the fund's prior fund, which was around $70M. NGEN said that because of the size of the new fund, it is also looking to expand its investment staff. More information »