London and Munich-based WHEB Ventures has announced the final closing of its second clean technology fund at £105.4 million.

London and Munich-based WHEB Ventures has raised £105.4 million for its second clean technology fund.

The final closing for WHEB Ventures Private Equity Fund 2 is described as an ‘achievement’ by managing partner James McNaught-Davis, who adds, ‘WHEB Ventures is one of very few cleantech venture capital firms to have raised significant amounts of capital since September 2008.

‘The WHEB team now looks forward to focusing its efforts on investing this new cleantech fund while continuing to support our existing portfolio of investee companies, some of which should be ripe for exit during the next 12 months.’

Institutional investors in the fund include the European Investment Fund and the UK government-backed Environmental Innovation Fund managed by Hermes Private Equity.

Among the family offices backing the fund are the Bamfords, who own forklift truck maker JCB, as well as Lord Jacob Rothschild and Rolls Royce chairman Simon Robertson.

The fund has already made six investments since its first closing in July 2008.