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I2BF Consolidates Position as a Global Leader in Cleantech Investment with New York Office Opening and Team Expansion

I2BF Consolidates Position as a Global Leader in Cleantech Investment with New... -- NEW YORK, October 19, 2010 /PRNewswire/ --

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I2BF Consolidates Position as a Global Leader in Cleantech Investment with New York Office Opening and Team Expansion


NEW YORK, October 19, 2010 /PRNewswire/ -- I2BF, the international clean technology asset management group, has further strengthened its presence in the US by opening an office in New York through its wholly-owned subsidiary I2BF, LLC.

Originally founded by Ilya Golubovich in Silicon Valley on the West Coast, I2BF has USD 100 million in AUM across its flagship I2BF Holdings I, a VC fund which had a first close in 2006, and the I2BF Arbat Clean Technology Fund, a hedge fund launched in 2008. The former has several investments in the US market including second generation biofuels, solar, and wind.

I2BF also has offices in London and Moscow, with an office planned in Dubai, reflecting the global reach of the company and its investment philosophy. David Waserstein, Director of Investments, will head up I2BF, LLC and its New York office, with an aim to provide local support for I2BF's efforts with both prominent investors, and breakthrough technology companies in the Americas.

"This expansion marks a logical and critical next step in the evolution of the firm and demonstrates I2BF's continuing commitment to the US market as investors," said Waserstein.

In addition to the office opening, I2BF has appointed Mike Lousteau as General Counsel. Mike joins the company from Wilson Sonsini Goodrich & Rosati, P.C. a leading Silicon Valley law firm, where he worked with investors and companies on numerous venture capital, merger and acquisition and public offering transactions within alternative energy and cleantech, software and SaaS, retail, networking, semiconductors, consumer internet and biotechnology.

Lousteau stated, "I2BF is a truly international organisation which looks for global solutions to fundamental disconnects in the energy markets. I am pleased to be part of a dynamic and entrepreneurial company and to help with the development of I2BF, LLC and the New York office, particularly as the US is at the forefront of developing new technologies."

Ilya Golubovich, Founding Partner, added: "Establishing I2BF, LLC in New York and appointing Mike as our General Counsel will allow I2BF to enhance its participation in the US cleantech market and in the Americas more broadly. The current market conditions make it an excellent time to invest in clean technologies and these look to continue."

Notes to Editors

1. I2BF was established in Silicon Valley in 2005 as an international asset management group focusing on venture capital and public equity activities in the clean technology sector.

2. I2BF has over $100 million under management (as of June 2010). All assets are deployed across two main funds: a venture capital fund, I2BF Holdings I and a hedge fund, I2BF Arbat Clean Technology Fund.

3. As at the end of March 2010, I2BF Holdings I has fifteen investments in its portfolio. These include investments in water, next generation biofuels, wind, solar, energy efficiency and power storage. These investments are located across Europe, Asia and the US.

4. I2BF launched the I2BF Venture Fund II in April 2010 targeted at USD 150 million, which will invest in a diversified portfolio of early stage companies developing and commercialising cutting-edge technologies in the renewable energy and clean technology industry.

5. The I2BF Arbat Clean Technology Fund is a systematic quantitative hedge fund launched in 2008 which seeks to provide superior risk-adjusted returns in the renewable energy and clean technology space.

6. I2BF was awarded a mandate to co-manage a nano-technology fund focused on Russia and Kazakhstan with Russian bank VTB in 2010. The VTB-I2BF Venture Fund targets USD 100 million and is seeded by Russian nanotech giant Rusnano and Kazyna Capital Management (a subsidiary of the Kazakhstan sovereign wealth fund).


7. Ilya Golubovich, Managing Director, launched I2BF in Silicon Valley in 2005, after working in the Energy Department of the London office of Louis Dreyfus. He is a member of the Board of Directors of JSC Russian Investors, a private equity group with $200 million under management, and Linxlogic, a business software corporation in Los Angeles.

8. David Waserstein, Director of Investments, joined I2BF from Hudson Clean Energy Partners in 2009, where he worked as an associate. David has extensive experience structuring funds and associated activities, including in-depth industry and competitive analysis of a range of clean technologies.

9. Mike Lousteau, General Counsel, joined I2BF in 2010 from Wilson Sonsini Goodrich & Rosati, a leading Silicon Valley law firm. Mike holds a JD from the University of California at Berkley School of Law and has extensive experience in dealing with venture capital and clean tech investors and companies.

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