SOURCE: SAIL Venture Partners

SAIL Venture Partners

April 14, 2010 09:26 ET

SAIL Venture Partners Strengthens Its New Orleans Roots

COSTA MESA, CA and NEW YORK, NY--(Marketwire - April 14, 2010) -  SAIL Venture Partners, a leading cleantech venture capital firm, is based in California but they have always honored their roots in Louisiana. On April 9th and 10th the firm hosted its 2nd Annual Meeting of Limited Partners in New Orleans to a packed audience of investors, Advisory Board members, and Portfolio Company CEOs, as well as prominent local government officials and business magnates. A few of the many notable attendees included Board members of both the Louisiana and the New Orleans Firefighters Pension Funds; Louis Freeman, Jr., Emeritus Board Member of Tulane and great grandson of the Founder of Tulane's Freeman School of Business; John Elstrott, Founder and member of the Board of Whole Foods; Senator Butch Gautreaux of Louisiana; R. Foster Duncan, a prominent New Orleanian who has served as CFO of Duke Energy; and Dr. Ronald W. Hart, a SAIL Advisory Board Member and world-renowned scientist who developed the first direct proof of the pivotal role of DNA damage in certain cancers. The conference featured presentations from several SAIL Partners, including New Orleans native Walter Schindler and Hank Habicht, both Managing Partners, as well as Senior Partner Alan Sellers, also a New Orleans native. A new General Partner, Mike Hammons, was announced and attendees rose to a vigorous applause in response to the financial report presented by CFO Marcia Bateson, as well as several of the firm's Portfolio Company CEOs.

Out of SAIL's thirteen Portfolio companies, which fall into the categories of Energy, Water and Green Innovation, several presented during the conference, including Ken Stedman, President and CTO of MicroMedia Filtration, a developer of highly efficient waste water treatment systems, and Dr. Carlos Coe, Founder and CEO of Xtreme Power Solutions, a utility-scale power management and storage solutions provider recently profiled in Time magazine. Dennis Townsend, a partner with SAIL in Kokam Korea and Dow Kokam, which develop advanced lithium polymer batteries for transportation, spoke about the risks and potential rewards of developing electric cars. "A carbon tax in this country will help make gasoline more expensive and increase incentive for electric cars. Whether or not electric cars will have broad scale application depends unequivocally on the price of gas," he explained. Later he commented on his relationship with SAIL, "They add value. SAIL is the best VC I've seen and I've traditionally chosen not to work with VCs. SAIL is different."

After a cocktail reception and festive dinner, Schindler and Habicht's closing comments were fitting. "After traveling the world meeting with potential investors, I never thought so much of our money would come from my home state," said Schindler, "I am deeply grateful and honored." Habicht added, "The Firefighters told us: Before an investment is made we are on opposite sides of the table, but once the investment is made, we are family. It's great that our family includes all the firefighters and municipal employees in this State and other prominent members of the local community."

Contact Information

  • Contact:
    Sarah Currie
    (917) 498-5748