New Zealand Superannuation Fund Acquires Stake in Glass Tint Company
Posted on 08/14/2015
The New Zealand Superannuation Fund (NZSF) acquired a US$ 75 million stake in View Inc., a manufacturer of dynamic-tinting glass. Milpitas-based View designs glass that helps buildings avoid shades and blinds by using a technology known as an electrochromic window. The NZSF is keen on getting exposure to alternative assets, specifically in areas of energy efficiency and renewable energy. In total, View Inc., originally called Soladigm, raised US$ 150 million in a late-stage Series F round. Investing in the Series F round were Menlo Park-based Madrone Capital Partners (affiliated with the Walton family of Wal-Mart Stores Inc.) and Glass manufacturer Corning already existing investors. To date, the Bay Area glass company has raised US$ 500 million in equity. View Inc. has a US$ 100 million manufacturing plant in Olive Branch, Mississippi.
The NZSF has provided expansion capital to a number of alternative energy companies like fuel cell manufacturer Bloom Energy, wind turbine developer Ogin Inc. and carbon recycling company LanzaTech.
The transaction settled on August 7, 2015. The NZSF’s Head of International Direct Investment, Nigel Gormly, will take up a seat on View’s board of directors.
- Alternatives
- America
- Bloom Energy
- Madrone Capital
- New Zealand Superannuation Fund
- Ogin
- Venture Capital
- View
- Wind
