Mayfield Snares ATV Cleantech Investor

By Russell Garland     VentureWire     January 12, 2009

Venture Capital:  Menlo Park, Calif.

Todd Kimmel has joined Mayfield Fund as a partner to broaden its energy-technology investment capabilities, the firm said.

Kimmel, who is 33, comes from Advanced Technology Ventures, which he rejoined a year ago as a principal specializing in cleantech. He originally started working for ATV in 2003 and became an entrepreneur-in-residence, leaving in 2006 to co-found Coskata Inc. The company, backed by ATV, Blackstone Group, General Motors Corp., GreatPoint Ventures and Khosla Ventures, is developing a process to turn crops and organic waste into ethanol.

Kimmel will work closely with Mayfield Managing Director Navin Chaddha. The Menlo Park, Calif., venture firm has done several energy-related investments including China-based LED maker Lattice Power Corp. and Servomax India Ltd., which provides voltage-stabilization and power-saving equipment.

Chaddha said Mayfield intends to invest broadly in technology related to energy supply, distribution and consumption plus environmental areas such as desalinization and recycling through its U.S. and India funds and China affiliate, GSR Ventures. Kimmel gives Mayfield needed expertise in energy technology, Chaddha said, although the firm has no plans to invest in biofuels. "We are shying away from that area," he said. "It's because of capital intensity."

Mayfield has no set allocation for energy technology, Chaddha said, although it considers it a major investment area along with more traditional technology sectors. The firm has no immediate plans to hire more energy investors but will add some technical experts and part-time advisers, he said.