FORTUNE — Craton Equity Partners, a private equity firm focused on companies that “improve the environment and quality of life,” is back in the fundraising market.
The Beverly Hills, Calif.-based firm is seeking upwards of $400 million, according to a regulatory filing. This follows a 2006 debut fund that was capped just south of $200 million. Through the end of 2011, CalPERS reports that Craton’s first fund featured an internal rate of return (IRR) of negative 7.3%.
Existing portfolio companies include Arxx, a maker of insulating concrete forms; Enlink Geoenergy Services, an installer of earth heat exchangers; Liquid Environmental Services, a non-hazardous liquid waste collection and treatment company; and Gazelle, a “recommerce” company focused on used consumer electronics.
Fortune has left a message with Craton, and will update this post if we hear back. In general, private equity firms are prohibited from discussing fundraising efforts.
Sign up for Dan’s daily email newsletter on deals and deal-makers: GetTermSheet.com