Sir Richard Branson Successfully Raises Funds For New Energy Venture

Sir Richard Branson will successfully raise funds for his new energy project in the course of two months. Branson has raised a total of $400 million (£240 million). 

London and San Francisco based, Virginia Green Fund is a privately funded asset which will raise its goal for the year when it closes in September. The Virginia Green Fund will help provide for renewable energy projects in areas such as biomass and solar power spread out throughout western Europe and the U.S.

The fund gives about $5-$10 million to the renewable energy sectors, and last year it funded a startup company called GreenRoad Technologies which aims to reduce car fuel usage, the dollar amount of the donation was estimated to be $14.5 million.

An amount of $100 million placed into the fund is attributed to a direct donation from Sir Richard Branson personally, and the remainder of the fund is provided for by unnamed investors. The fund will look to receive returns of up to 30%.

MVision is responible for managing the fund, which includes 11 partners, including Evan Lovell, Shai Weiss, and Anup Jacob, who founded the fund jointly.