Dec. 9 (Bloomberg) -- Warburg Pincus LLC, the private equity company with more than $30 billion in assets under management, agreed to provide as much as $355 million to an investment company that will back renewable energy technologies.
First Green Partners will invest in early stage companies focused on converting non-food biomass and carbon dioxide into fuels and chemicals, the Minneapolis-based company said today in an e-mailed statement.
Initial investments in emerging technologies will range from $500,000 to $10 million and individual companies may receive as much as $100 million as they develop, First Green Partners said.
The co-presidents of First Green Partners are Tom Erickson, general partner of BlueStream Ventures, and Doug Cameron, former chief science officer at Khosla Ventures, the Silicon Valley venture capital company started by billionaire Vinod Khosla.
Cameron was previously director of the biotechnology group and chief scientist at agribusiness company Cargill Inc., and served as chief executive officer of Khosla-backed biofuel companies Gevo Inc. and LS9 Inc. Cameron was on the boards of two other Khosla-backed biofuel companies, Kior Inc. and Mascoma Inc.
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