In the brave new green world, if it’s tech it’s clean and if it’s clean it’s tech, right? That seems to be the takeaway from the announcement that tech-focused private equity firm Silver Lake and billionaire George Soros have joined forces to create Silver Lake Kraftwerk (SLKW), “a new investment strategy focused on providing growth capital to business innovators in the energy and resource sectors.”
Adam Grosser will lead the fund, which will have offices in Silicon Valley and China. Over a 10-year career at Foundation Capital, Grosser was part of the development of EnerNOC, Silver Spring Networks, Calix and Peribit, SLKW said in its announcement. “As part of the cleantech team, he also helped to establish a widely regarded and differentiated cleantech investment practice.”
Also coming aboard is Cathy Zoi, who recently stepped down as acting under secretary and assistant secretary for energy efficiency and renewable energy in the Obama administration.
“Developing alternative sources of energy and achieving greater energy efficiency is both a significant global investment opportunity and an environmental imperative,” Soros, chairman of Soros Fund Management, said in a statement. “We are excited to partner with Silver Lake and Adam Grosser, who together provide deep domain expertise and investment experience in the technology and clean technology sectors.”