Archive for 'Funding'
Skystream Markets Inc., a provider of institutional transaction platforms
for the renewable energy markets, today announced an investment from LaunchCapital, a venture capital investor with offices in New Haven, Conn., Cambridge, Mass. and Palo Alto, Calif.
LaunchCapital joins an investment syndicate that includes Connecticut Innovations, Ironwood Capital Connecticut’s Connecticut Growth Fund, the Clean Energy Venture Group and several leading angel investors from the financial technology industry.
“LaunchCapital sees its investment in Skystream Markets as a foundational placement in the REC trading markets behind two highly experienced and passionate founders and their team,” said Konstantine Drakonakis, Director at LaunchCapital. “LaunchCapital is looking forward to assisting Skystream Markets as it executes its plan and scales this incredible opportunity.”
Skystream Markets acts as a neutral intermediary in the environmental market and does not take principal risk, thereby avoiding any conflicts of interest with customers. The team has deep expertise and a successful track record in building trading infrastructure in new markets that require service improvements to the entire trade cycle.
“We’re delighted to have a venture capital group of this caliber join our investment syndicate to help us build the company,” said Skystream Markets co-founder Naeem Hukkawala. “We plan to grow our innovative technology offering to provide the next generation of transaction platforms for the environmental trading markets” added Kapil Mohindra co-founder of Skystream Markets.
Skystream Markets is focused on the state level Renewable Portfolio standards, which form the basis of the primary tradable environmental market in the US, called Renewable Energy Certificates (RECs). Each REC represents one Megawatt of renewable power.
Skystream Markets’ trading platform improves price discovery and market depth in both the primary and secondary REC markets. Skystream Markets serves institutional investors, including some of the largest renewable energy producers, utilities and commodities traders.
Last night over 70 people gathered to hear a panel moderated by Charles Hudson, a Venture Partner with SoftTech VC, talk about their experience bootstrapping, learning the importance of accountability, deciding what were the important metrics of success, and how to survive when things don’t go as well as hoped.
Christine Herron, Director with Intel Capital, Trevor Cornwell, the founder and CEO of appbackr inc., Danae Ringelmann, co-founder of IndieGoGo, and George Revutsky, the founder and CEO of MyNextCustomer all spoke eloquently about their experience.
We learned that mom can be the best angel investor when you need to get through that little hump, but be sure your arrangement has clear terms. We learned about risk, and the importance of maintaining strong relationships both personally and professionally.
Check out the photos on our facebook page, and look out for our next FailChat in the coming months!!