The company has taken the decision after failing to attract investors for a European energy asset acquisition unit.
UK-based conglomerate Virgin Group has cancelled plans to raise a new investment fund and is set to wind down its private equity, according to Bloomberg, which cited three people with knowledge of the matter.
Virgin closed $300m for its Virgin Green Fund in 2009 and the unit has since invested in businesses including biofuel developer Gevo, water filtration company Quench and driving analytics provider GreenRoad. Virgin provided about one third of the capital.
However, after failing earlier this year to…
