Mar. 01 /CSRwire/ - February 28, 2007—Bridgescale Partners, a leading expansion-stage venture capital firm, will offset 100 percent of company-generated carbon pollution this year with renewable energy. To date, Bridgescale offset over 150,000 pounds of CO2 emissions working in tandem as a Carbonfree partner with Carbonfund.org, the country's leading carbon reduction and offset organization.
"At Bridgescale, we’re looking for entrepreneurs creating innovative companies which include clean energy businesses" said Rob Chaplinsky, Bridgescale co-founder. "We believe we have a responsibility to run our investment practice carbon free and do our part to work sustainably and improve the global environment."
Working with Carbonfund.org, Bridgescale has invested in a combination of renewable energy development, energy efficiency projects, and reforestation. These efforts offset 100 percent of Bridgescale’s annual gas and electric usage, business air travel, and business car travel.
"We are excited to have Bridgescale Partners join our ever growing roster of Carbonfree™ partner organizations," said Eric Carlson, executive director, Carbonfund.org. "Bridgescale’s own example to take responsibility for their corporate CO2 emissions signifies their leadership on this critical issue; one which we hope others in the venture capital industry will follow. Bridgescale is sending a clear message to the marketplace that they are solution–minded and forward leaning in their actions."
Carbonfund.org is a non-profit organization whose goal is to make carbon offsets and climate protection easy, affordable and a normal way of life for every individual and business. Carbon offsets enable individuals and businesses to reduce carbon dioxide emissions in one location, where it is cost effective, to offset the emissions they are responsible for in their normal activities, like home, office, driving or air travel emissions. For instance, a clean, zero CO2 wind farm can offset the carbon dioxide produced by a coal-fired power plant. Carbonfund.org offsets CO2 emissions by supporting renewable energy, energy efficiency, and reforestation projects. The financial support from these offsets is helping to transform the market to a clean energy and technology future.
Bridgescale is a new venture capital firm focused on expansion venture investments in technology companies. Bridgescale's capital is sourced from some of the most respected institutional investors who have a long-term commitment to venture capital. Since its inception in 2006, Bridgescale currently has already invested in four portfolio companies including Cortina Systems, a leading communications semiconductor company focused on the carrier infrastructure market; Digital Chocolate, a developer of games and applications for mobile phones; and Proofpoint, the leading provider of enterprise-class messaging security solutions.
The Bridgescale team has more than 70 combined years of operational, venture capital, and investment banking experience including broad transaction expertise spanning early-stage to public-market transactions.
Collectively, the team members have invested in more than 40 companies that were either sold or went public including Atheros, CNET, FormFactor, GeoCities, ONI Systems, Pivotal Technologies, Quantum Effects Design, SupportSoft, and Sycamore. In addition, they have advised on more than 35 M&A and financing transactions representing in excess of $25 billion in transaction value. For more information, please visit Bridgescale’s Web site at www.bridgescale.com.
Carbonfund.org is the country’s leading carbon reduction and offset organization. Carbonfund.org educates the public about the dangers of climate change and makes it easy and affordable for individuals, businesses and organizations to reduce their climate impact. Carbonfund.org is reducing the threat of climate change by promoting cost-effective carbon reductions and supporting renewable energy, energy efficiency and reforestation projects globally that reduce and offset carbon dioxide emissions. Carbonfund.org works with over 100 corporate and non-profit partners including the National Wildlife Federation, Dell, IMD, Ovation Travel Group and Working Assets.