Private equity firm Yellowstone Capital Partners LLC of Houston has formed its second alternative and renewable energy fund Yellowstone Energy Ventures II LP (YEV II). Yellowstone has substantially completed its investment program relative to its first alternative and renewable energy fund Yellowstone Energy Ventures LP (YEV I), which was launched in mid-2004.
Both YEV I and YEV II are venture funds focused primarily on early-stage investments in the energy technology segment of the cleantech industry.
According to the company, the funds have made and will continue to make a variety of investments in solar, energy storage, wind, clean coal, nuclear and alternative fuel technologies.
Yellowstone is targeting $50 million of commitments for YEV II with Yellowstone Capital as its lead investor and anticipates an initial close of outside investors early this year. The fund will be managed by its managing general partners, Omar Sawaf, Bill Brewer and Rick Owen.