Blue Lagoon Capital 1, LP was raised and closed in the Fall of 2008.
BLC1 was designed as an “operator fund” affording Blue Lagoon Partners, Rod and Kevin, who acted as GPs of the BLC1 fund and principle operators of its BLC1 portfolio companies, the ability to invite their closest network to participate as LPs in the ventures that they developed in the areas of cloud computing and clean energy. BLC1 primarily invested in founder-level and/or early-stage equity, alongside Rod and Kevin, in it’s technology ventures.
As BLC1’s portfolio companies developed, numerous tier-one venture capital firms made later-stage investments in these portfolio companies through to their exits. BLC1 realized an extraordinary 5.2x return on invested capital for its LPs, net of all fees and carried interest, with the majority of that capital returned in years 7 and 8 of the 10 year fund. In fact, portfolio company Virtustream’s result was one of the highest value private tech exit globally in 2015 according to Industry leading technology publications. Visit our Press Room >
Virtustream is a leading enterprise-class cloud company trusted by organizations worldwide to migrate and run their mission-critical applications in the cloud. Virtustream was founded in 2008 and was acquired by EMC in 2015 for $1.2b. EMC was subsequently acquired in 2016 by Dell, and Virtustream is now one of the seven ingredient brands of Dell Technologies. More details >
Greensmith Energy, a Wärtsilä Company
As the leading provider of energy storage software and integration services, Greensmith’s mission is to make energy storage a fundamental part of a more resilient, intelligent and distributed energy infrastructure. Greensmith Energy was acquired by Wärtsilä in May of 2016. The transaction was valued at $170m and Greensmith now operates as a business unit within Wärtsilä Energy Solutions. More details >