When an $8 billion fraud is perpetrated by a financial firm, it tends to touch every industry, and green businesses will not be immune.
In May of 2008, the Stanford hired a team of bankers to start investing in clean tech companies. The clean tech group was headed by Gary Vollen, formerly of Pacific Growth Equities. In an interview with the SF Business Times, Vollen said no company would be too small to invest in, and that he thinks “private placement business is going to remain really robust,” he said. “Only problem with those deals is they can take a really long time.”
We’ve hunted around for some of Stanford’s investments, but all we’re seeing is a $10 million investment in the Aqua Agro Fund, which is the clean tech venture capital fund of Israel based Gaon Agro Industries Ltd.
We’ve placed a call and put in an email to Gary Vollen to find out how else Stanford invested in clean tech. If he writes back we’ll let you know what he says.