NGEN Partners Gets Exit At Choose Energy

Santa Barbara- and New York-based clean technology investor NGEN Partners has scored an exit at Choose Energy, a startup which lets consumers comparison shop for and select electric energy providers, according to a report. The report, from Fortune, said the deal was worth less than $100M. Choose Energy had also raised funding from Kleiner Perkins Caufield & Byers, BlueScape Resources, and angels, and was based in Texas. Grubstein was on the board of Choose Energy. NGEN is a vertical investor in clean technology companies, and although Managing Partner Grubstein lives in Santa Barbara, only invests regionally incidentally. The company's most notable portfolio firm with Southern California roots is Soraa, the LED lighting company based on technology from UC Santa Barbara.