Expansion Capital was founded in late 2001 by Mark Donohue, who seeded the company with sweat equity and initial working capital. On July 1st, 2002, Mark was joined by Henry Corning as the Management Company's first Founding Investor. In the tradition of the Corning Family's original role in the founding of Greylock Partners in 1964, Henry became Clean Technology Fund's lead investor. In 2003, Diana Propper de Callejon and Bernardo Llovera joined as General Partners. As funds under management have grown, investors now include the founding families of ten Fortune 1000 companies, GP's of other venture funds, leading foundations, and strategic corporate investors from the energy and Cleantech sectors.
Expansion Capital was a pioneer in Cleantech venture capital and is respected for its leadership in developing the Cleantech sector. In this respect, in 2002, Expansion Capital was the only VC to be a Founding Investor of the Cleantech Venture Network, which is the world's leading conference and data provider to the Cleantech investment community.