Venture capital and private equity firm Battery Ventures has hired David Dreessen, formerly of energy investment firm Nth Power, as a partner. The firm has also promoted Jason Matlof, a venture partner based in Battery’s Menlo Park, California office, to the level of partner.
Dreessen spent seven years at Nth Power and worked on a total of 16 clean technology investments, including Evergreen Solar, the developer of solar electric engines used in remote power and emerging grid markets, and Northern Power, a global power solutions company, the statement said.
Before joining Nth power, Dreessen founded Structure Group, a consulting and software firm focused on the power industry, the statement said. He has also worked at the global management company Accenture, where provided consulting related to deregulating power markets.
Since joining Battery as a venture partner in 2005, Matlof has worked on portfolio companies Advent Solar, a manufacturer of advanced technology solar cells and modules, and Agito Networks, a startup focused on enterprise mobility.
“Clean technology and energy present tremendous opportunity,” Matlof said in the statement. “The broader energy market includes some of the largest industries in the world, and they are currently going through major supply and demand disruptions. Market disruptions present an opportunity for entrepreneurs with new technology to create value that wasn’t previously possible.”
Battery concentrates on clean energy, clean transportation, clean water and clean materials, the statement said. The firm has more than $2 billion in committed capital and has offices in Boston, Silicon Valley and Israel, the statement said.
Recently, Battery invested in Advent Solar, a producer of solar cells and modules, and Lion Cells, a manufacturer of lithium ion batteries, and it is investing in BV VII, a $450 million fund, the statement said.
Battery closed its seventh fund in October 2004. The firm planned to use that $450 million fund for IT investments and for expansion into China and India.