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CHEMICAL VENTURE PARTNERS JOINS LIBERTY ENVIRONMENTAL FUND; LIBERTY VENTURE ALSO FORMS ENVIRONMENTAL PARTNERS

 CHEMICAL VENTURE PARTNERS JOINS LIBERTY ENVIRONMENTAL FUND;
 LIBERTY VENTURE ALSO FORMS ENVIRONMENTAL PARTNERS
 SAN FRANCISCO, Aug. 17 /PRNewswire/ -- Chemical Venture Partners (CVP) of New York, with over $1.5 billion of investment capital, has joined Liberty Environmental Fund of San Francisco to work with Liberty Venture, a San Francisco-based venture management firm and Canaan Partners, a venture capital firm with offices in Rowayton, Conn. and Menlo Park, Calif., to make venture capital investments in environmental and energy related industries.
 Liberty Venture also announced it is raising $4 million for Liberty Environmental Partners (LEP), a new venture capital partnership. In addition to making investments alongside other venture capital firms, LEP will also make independent investments in early stage environmental service companies. Investments will range from $200,000 - $500,000 per company.
 Chemical Venture Partners, with offices in New York, Los Angeles and in Europe, manages funds for Chemical Banking Corp. and focuses on financing management buyouts and recapitalizations, as well as providing growth equity and venture capital.
 "The environmental field will be an important industry category for the 1990s, and we are excited to work with Liberty Environmental Fund to seek investment opportunities," said Frank Do, a CVP principal. "Some environmental investments made by CVP include an auto emissions testing company, an animal by-products processor/recycler and a provider of environmental test well drilling services," added Do.
 According to Don Hichens, Liberty Venture managing partner, the best investment opportunities over the next year will be in the areas of water and waste water treatment, waste recycling and minimization technologies, and improvements in data gathering and environmental data management.
 "Our group is looking to invest from $2 to $10 million in companies that have developed commercial products or services and we expect to make three to five investments per year," said Hichens.
 Within the past year, LEF has facilitated investments in an energy demand-side management company and a manufacturer/distributor of specialty gaskets. Currently under review are potential investment in the areas of soil remediation, air pollution and environmental data management.
 -0- 8/17/92
 /CONTACT: Sheldon Baker of Sheldon Baker Public Relations, 415-885-5252 for Liberty Venture Group; or Don Hichens of Liberty Venture Group, 415-951-4648/ CO: Liberty Venture Group; Chemical Venture Partners ST: California, New York IN: SU:


RM-DG -- SF004 -- 0525 08/17/92 12:46 EDT
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Publication:PR Newswire
Date:Aug 17, 1992
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