Cleantech venture investing rebounded in the third quarter despite the turmoil in the world financial markets and a generally slow exit environment. Venture capitalists put $2.23 billion into 189 deals worldwide with North American firms accounting for 76% of the total and Asian firms 14%. This was up 23% from a year ago, when investments [...]
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Solar continued to be the driving force behind cleantech investing in the first quarter as venture capitalists shifted dollars to more mature, later stage companies.
The quarter saw investors worldwide pour $2.57 billion into 159 companies, a 13% increase in dollars from last year, according to the Cleantech Group. The majority of the money – 93% – went to follow-on rounds.
Surprisingly, this more cautious environment was fertile ground for solar deals. Solar startups attracted $641 million, or 24% of total dollars, as several big deals led the way. The next closest industry sector was transportation, with less than half the committed dollars.
First there was the ethanol bubble, then the solar bubble and now the electric car investment bubble. Could the energy storage bubble be next? I think it is a possibility. Cleantech investors are clearly focused on the space and the potential of breakthrough technology is whetting their appetites. Talk to just about any green VC [...]