Friday, July 27, 2012

Vulcan Capital Backs Siluria

Vulcan Capital, the investment firm owned by Paul G. Allen, has backed a developer of technology to convert natural gas into commodity chemicals. Siluria Technologies, based in San Francisco, said yesterday that it has closed a $30M, Series C funding round, which was led by Bright Capital and Vulcan Capital, and also included ARCH Venture Partners, The Wellcome Trust, Alloy Ventures, Kleiner Perkins Caufield and Byers, Lux Capital, Altitude Life Science Ventures and Presidio Ventures. Siluria develops technology which breaks down methane into a series of other chemicals, which the firm says costs much less than oil-based products. More information »