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Clear Venture Partners Fund GP
United States of America
Last updated 13 May 2020, by Impactyield.
Fund geography
Developed countries (203) / More developed regions (202) / More developed regions (North America, Asia & Oceania) (153) / United States of America (113)
Clear Venture Partners is a $50M fund-in-formation targeting underserved geographies in New England. The fund will geographically targeted regions considered underserved by virtue of income levels, federal designations (e.g. HUB, EC/EZ zones), low per capital venture capital investment and/or other such designations. The fund will invest in 12-15 early stage (pre-revenue, early revenue) ventures in one of three target sectors: energy/environment, health/bio sciences and software/web/mobile. The fund will charge a 2.5% management fee and will have a 20% carried interest. The fund is based in Portland ME and is led by the fund manager of CEI Community Ventures (CCV), a $10M early stage venture capital fund that targets underserved (distressed, low income) regions in northern New England. CCV (www.ceicommunityventures.com) is a for-profit subsidiary of Coastal Enterprises Inc (www.ceimaine.org). Clear Venture Partners is a new fund and is wholly unaffiliated with Coastal Enterprises or any of its subsidiaries or entities.
Asset class
Fund status
Fund style
Financial description
Clear seeks to achieve market rate returns for its asset class. The fund manager targets top quartile financial returns vs any other early stage venture capital fund of similar size and vintage.
14 years
of track record
2010
the year funded
50,000,000 USD
AUM
Interested in this fund?
Log in or create an account to request more information.
Gain a deeper and comprehensive understanding of how this fund generates positive impact in the themes and SDGs that matter to you, with insights provided by our dedicated team of expert analysts, and receive notifications about new available impact products, exciting investment opportunities, and relevant updates in the world of impact investing.
Asset manager
SDG goals
SDG targets
Encourage companies to adopt sustainable practices and sustainability reporting
Sustainable food production and resilient agricultural practices
Improve water quality, wastewater treatment and safe reuse
Expand and upgrade energy services for developing countries
Promote policies to support job creation and growing enterprises
Increase access to financial services and markets
Upgrade all industries and infrastructures for sustainability
Key performance indicators
Fund overview
Asset manager: Clear Venture Management
Product track record: Fund has 14 years of track record
Target IRR: 35%
Committed Capital: 275,000 USD (US Dollar)
Target return category: Risk-adjusted market-rate of return
Fund domicile: United States of America
Product status: Open - committed capital
Style/Stage: Early Stage
Inception year: 2010
Vintage year: 2010
Target region: Developed countries, More developed regions, More developed regions (North America, Asia & Oceania), United States of America
Target close date: n.a.
Product term: 10 years
Assets under management: 50,000,000 USD (US Dollar)
Investment size: Min: 1,000,000; Max: 3,000,000; Avg: 2,000,000
Co-investment policy: LPs do not have priority, With LPs and non-LPs
Currency of investments: USD (US Dollar)
Currency for fund / product figures: USD (US Dollar)
Fund investments to date: 0
Fund investments to date exited or repaid: 0
Management fee: 2.5%
Carried interest: 20%
Hurdle rate: n.a.
GIIN Investors' Council Investment: No
Limited Partners / Investors: n.a.
Limited Partner / Investor Type: Endowments/Foundations, Family Office, Pension Funds, Other Institutional Investors
Contact
E-mail: jw@clearvcs.com
Website: http://www.clearvcs.com
Phone number: 2073181787.00
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Jen Walker
Finance and Administration
Michael Gurau
Managing General Partner
Impact Performance
n.a.
Impact thesis
Clear will measure its primary impact in terms of dollars and deals invested/made in qualified target geographies. Beyond geography, Clear will measure total and low income jobs created and sustained, composition of management team (women, minorities) and founders/owners; and environmental impact (environmentally beneficial products/services, environmentally progressive management/operational practices, etc.).
Impact Management
n.a.
Financial benchmark
Others
Term Description:
Keywords
Community Investing/LocalMinorities/Previously Excluded PopulationsRuralUrbanWomen