Lacuna Sustainable Investments raises $50,000,000 for investment in early-stage solar and storage development projects

SAN FRANCISCO, March 18, 2020 /PRNewswire/ -- Lacuna Sustainable Investments ("Lacuna") is excited to announce that is has successfully raised $50,000,000 to invest in development-stage solar and storage projects.

The new development fund investment allows Lacuna to substantially expand its investment-related activities. The fund will invest, generally, in the "risk capital" components of development projects – pre-construction equity, preferred equity and subordinated debt – and on limited occasions may invest in the direct senior debt component of the capital structure. Going forward, Lacuna will recycle capital from the sale of existing investments and obtain additional capital from project debt facilities on an as-needed basis.

Co-founder David Riester stated, "Brad, Patrick and I founded Lacuna because we saw an opportunity to bridge the gap between development and long-term asset ownership," adding that, "The fund allows us to place greater emphasis on investment-related activities and increase our role as an originator and investor in development projects."

Patrick McConnell, co-founder, commented that, "The team is excited to have closed the investment and turn our attention to deploying capital with our development partners into projects that will generate highly reliable income streams for the right long-term owners."

"Lacuna is our own development project. We're incredibly proud of the team we are building at Lacuna and how we approach collaboration and teamwork both with our founding team and with our development partners and investors," said co-founder Brad Bauer.

Lacuna also performs limited advisory work where the engagement complements the firm's investment activities or offers an entrée into new areas of opportunity, most often in circumstances where the team's transaction structuring expertise and relationships can be brought to bear.

As a firm, Lacuna recently announced the addition of the following principals to the investment team: Adam Medoff, Kevin Rolston and Sukhraj Sandhu.

The firm is based in the Presidio of San Francisco.

About the Company
Lacuna Sustainable Investments is an investment management firm active in the development, financing and monetization of renewable energy projects throughout North America. We are dedicated to investing in and building great projects through creating strong partnerships with local development teams, most commonly investing during the pre-construction phase. As a thesis-driven team of entrepreneurs, investors and former operators, we are uniquely equipped to inject capital where opportunities and projects would otherwise get stuck. At Lacuna we are more than just investors – we are true business partners committed to creating value for all stakeholders by building on the foundation of one core goal: convert good ideas into operating power plants.

For more information:
[email protected]

SOURCE Lacuna Sustainable Investments