DURHAM — Modern Energy Group, a Durham-based asset management company focused on investing in sustainable energy companies, has raised another $30.4 million in equity, according to a recent SEC filing.

That’s in addition to roughly $42 million sold last year, bringing its total to $72.7 million starting from the first date of sale in late December 2018. According to the filing, the company is still seeking to raise another $7.2 million.

Modern Energy logo.

The funds were raised from 23 investors , with a $250,000 minimum investment from each.

The filing did not disclose how the firm intends to use the money.

Modern Energy’s CEO and founder Benjamin Abram, a Duke University grad who founded the company in 2016, signed the filing.

Abram was previously employed at The Westly Group, a clean technology venture capital organization. He is also the son of Adam Abram, the CEO of Chapel Hill-based James River Group Holdings Ltd.

As stated on its website, the firm’s primary goal is to invest in businesses that bring distributed energy innovations to the market.

“Modern Energy’s businesses identify emerging energy asset classes and leverage their differentiated knowledge, talent, and capital to bring those asset classes to scale,” it reads.

Modern Energy Group’s partnerships include companies worldwide focused on energy transition, efficiency and storage including American Efficient, Faro Energy and Upside Energy.

In 2017, Modern Energy Group purchased Manbites Dog Theater in downtown Durham for $1.1 million to house its growing team.

That same year, it also raised $2.97 million in a venture capital fund and became a Certified B Corporation, as previously reported by WRAL TechWire.