Solexant raises $42 million in venture capital- Olympus Capital Partners

Solexant Corp., developer of third-generation ultrathin-film PV technology, raised $41.5 million in venture financing. Olympus Capital Partners led the round of financing, which included DBL Investors and Birchmere Ventures. Existing investors include Trident Capital, Firelake Capital, Medley Partners and X/Seed.

Olympus is the lead investor in this new round of funding for Solexant, and the firm’s founder, Rami Elkhatib, is joining the company’s board of directors. The firm also announced the appointments of venture partners Charles Ho and Debra Schilling.

“We believe this is a great time for unconventional approaches to established clean energy and IT markets,” said Elkhatib, founder and general partner of Olympus Capital Partners. “We are very enthusiastic about the opportunity we see for compelling late-stage clean energy and IT companies with proven technology, strong customer acceptance, resourceful management teams, and capital-efficient business models. Solexant is a perfect example, and it exemplifies why we formed Olympus.”