Russian Venture Capital I LP, a new venture capital fund of Russian Venture Company, has invested $10 million in BrightSource Energy, a US-based developer of solar thermal power plants.
The investment was made as part of BrightSource Energy’ $150 million series D funding.
Russian Venture Capital I joined new investors in this round such as Alstom and California State Teachers Retirement System (CalSTRS) as well as exisiting investors VantagePoint Venture Partners, Draper Fisher Jurvetson, Morgan Stanley, Chevron Technology Ventures, BP Alternative Energy, and StatOil HydroVentures.
BrighSource Energy develops utility-scale solar thermal power plants based on its proprietary Luz Power Tower technology. Headquartered in Oakland, California, BrightSource Energy has operations in the United States, Israel, and Australia.
Russian Venture Company (RVC) is Russia state-owned venture development and fund-of-funds company.