Modern Energy International, an asset management firm that invests in sustainable energy, has raised $2.97 million in a venture capital fund, according to a filing with the Securities and Exchange Commission.
Founded in 2016, Modern Energy invests in and through businesses that bring distributed energy innovations to market. From energy efficiency in the United States to solar projects in emerging markets, Modern supports leaders in the transition to a distributed energy economy.
The company’s chief executive officer, Benjamin Abram, is a graduate of Duke University and was the founder and president of Wylan Energy, a sustainable enterprise that works to design energy efficient choices for consumers.
He is the son of Adam Abram, the CEO of Chapel Hill-based James River Group Holdings Ltd.
More information about Modern Energy can be found on the company’s website.
Companies relying on a Reg D exemption do not have to register their offering of securities with the SEC, but they must file what’s known as a Form D electronically with the SEC after they first sell their securities.