About Fat Spaniel Technologies



In October 2006, Fat Spaniel completed a $7 million Series A funding round from leading investment firms Element Partners and Chrysalix Energy. Fat Spaniel also closed $18 million in Series B financing on January 23, 2008. The investment round was led by Ignition Partners, with follow-on investment from Element Partners and Chrysalix Energy. PCG Clean Energy & Technology Fund and Applied Ventures, LLC, the venture capital arm of Applied Materials, Inc., also participated in the round.

Element Partners

Element Partners is a leading investor in the clean technology sector. Our strategy is to identify and support companies developing promising solutions to economically important resource constraint problems. Our specific focus is on products, services and technologies in the energy and power, water, environmental, materials and chemicals, and manufacturing and industrial sectors. Element’s team has managed over $600 million in five clean technology funds and has completed over 45 investments in the sector. These investments range from early stage investments in developing companies to buyouts of established companies. The depth and breadth of our experience make Element a valuable partner in building successful businesses in clean technology markets.

Element’s inaugural fund, DFJ Element L.P., is capitalized at $284 million, and was formed in partnership with Draper Fisher Jurvetson, a leading global venture capital investment firm. Element is also a co-manager of the $30 million California Clean Energy Fund (“CalCEF”). CalCEF (www.calcef.org) invests in clean energy companies that are positioned to make an impact on the state of California. CalCEF was established in 2004, and targets companies in renewable energy, energy efficiency, energy storage, and related clean technology products and services.

Chrysalix Energy

Chrysalix Energy invests in and supports compelling technologies and entrepreneurial management teams that address the changing demands of the global energy industry. Founded in 2001, the firm actively works with clients and supports them with deep industry and technical knowledge, management and board assistance, organized networking with industrial and financial partners, management of intellectual property, and direct access to capital. Investors in the Chrysalix Energy Partnerships include Ballard Power Systems, BASF Venture Capital, BOC, Citigroup, Consensus Business Group, Delta Lloyd, Essent, Kuwait Petroleum Corporation, Lexington Partners, Mitsubishi Corporation, Robeco, Shell Hydrogen, Teachers' Private Capital and West LB Mellon Asset Management.

Applied Ventures

Applied Ventures, LLC (http://www.appliedventures.com), a subsidiary of Applied Materials, Inc., invests in early stage companies with high growth potential pursuing technologies that are complementary to Applied Materials’ core business and can stimulate the growth of applications for semiconductors, flat panel displays and related products and services. Applied Materials, Inc. is the global leader in Nanomanufacturing Technology™ solutions with a broad portfolio of innovative equipment, service and software products for the fabrication of semiconductor chips, flat panel displays, solar photovoltaic cells, flexible electronics and energy efficient glass (http://www.appliedmaterials.com).

Ignition Partners

Ignition Partners, (www.ignitionpartners.com) is a premier private investment group with offices in Bellevue, Washington and Shanghai, China. Ignition Partners' affiliated family of funds includes Ignition Ventures and Ignition Growth Capital in the U.S. and Qiming Ventures in China. The investment group's three categories of funds - early stage venture, growth capital and China ventures -brings together an unparalleled combination of domain focus, functional expertise and global operational experience with partners from leadership positions at Microsoft, McCaw Cellular Communications, AT&T Wireless, Cisco, Starbucks and other industry leaders.

PCG Clean Energy and Technology Fund

The PCG Clean Energy and Technology Fund is a co-mingled fund of funds and co-investment vehicle dedicated to investing across the spectrum of the global clean energy and technology value chain. The fund is managed by a dedicated CleanTech investment team within PCG Asset Management, which oversees more than $15 billion of private equity commitments through a combination of fund-of-funds, separate accounts and advisory relationships and is based in La Jolla, California.