September 28, 2009
VC Firm, I2BF Venture Capital Leads $9 Million in a Bridge Funding Round for South Korean Based Nesscap, Inc.
Based in Seoul, South Korea, South Koreaâ€™s leading power storage company, Nesscap, Inc., announced today that it has just closed a $9 million investment in a bridge funding which was led by British based vc firm, I2BF Venture Capital. Other vc firms that participated in this round of funding include local investors in the region, who are not disclosed to the public.
Nesscap, Inc is a company that is leading the South Korean market in producing ultra capacitors and power storage units for long term energy storage. The company features a large array of different products that are a standard in the industry. Nesscap offers products that range from three to five thousand farads and have organic electrolytes that are recognized by the electric power storage and ultra capacitors industry. Furthermore, Nesscap states that its products have both cells and modules that are for the transportation, power, and consumer industries.
According Nesscapâ€™s chairman and CEO, Dr. Sunwook Kim; both he and the management are very pleased that the company has the support of such a strong investor, such as I2BF Venture Capital. Dr. Sunwook further stated that the support from I2BF demonstrates the support of Nesscapâ€™s technology and proof that it is doing well in the marketplace.
Based in London, United Kingdom, I2BF Venture Capital is a high class vc firm that has a mission of supporting companies that are in the energy industry. I2BF Venture Capital was founded in 2005 with a mission to improve the energy sector in the United States, Europe, Asia, and the South Pacific. I2BF is a subsidiary of Arbat Capital Management, which is one of Russiaâ€™s top vc firms. Currently, I2BF Venture Capital has over $90 million of assets under its management. Along with venture capital, I2BF Venture Capital also has a hedge fund that is worth over $25 million. The primary focus of I2BF Venture Capital is in renewable energy, and on their website they show a diagram of the different sectors of the energy industry the vc firm focuses on. Some of the sectors include wind, hydrogen, solar, and ocean energy. I2BF Venture Capital also invests in biofuel companies and companies who are in the water purification and energy efficiency industries. Some other companies in I2BFâ€™s portfolio include Primafuel, Solix Biofuels, Prism Solar Technologies, Epuramat, Solar Silicon, PowerBeam, and others.
For more information about Nesscap, click here.