Clean technology venture capitalist, Westly Group, has raised $50 million for a clean tech fund, Reuters reports. The $175 million fund will seek to invest in a range of technologies focused on clean energy and energy efficiency, with special focus on green building technology.

The vehicle may invest 20% of the fund into internet companies. The fund’s one-fifth assets may be invested outside the U.S., especially in China. Westly aims to invest in second and third rounds of fundraising.

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