CalCEF Clean Energy Angel Fund exits from Allopartis Biotechnologies
CaICEF Clean Energy Angel Fund I exited from its portfolio company Alloparties Biotechnologies Inc. The firm was sold to Novozymes but no financial terms about the deal was disclosed. CalCEF Clean Energy is a firm that invests seed and early stage venture capital in clean energy markets.
CalCEF Clean Energy Angel Fun General Partner Susan Preston said they were pleased to have given their limited partners with a positive return on their investment of Allopartis. "We always strongly believed in the team and the technology, and are gratified that the world leader in industrial biotechnology solutions has come to the same conclusion," she added. CalCEF Angel Fund and XSeed Capital first supported Allopartis in September 2008.
Allopartis Biotechnologies is a San Francisco-based company established in 2008. It specializes in screening enzymes for industrial use. Former Allopartis President Dr. Robert Blazej said the support given by CalCEF was instrumental to their success. He said, "We are extremely excited to now carry that success forward within Novozymes."
Novozymes is a Denmark-based bioinnovation company. It had made more than 700 products used in 130 countries.