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.

Coda Automotive, a Santa Monica, Calif.-based electric car and battery company, has raised $58 million in Series C funding. Aeris Capital (Switzerland) led the round, and was joined by EDB Investments (Singapore), Countryline LLC (Tony Pritzker and J.B. Pritzker) and Les Wexner (CEO of Limited Brands). Return backers included Angeleno Group, Thomas Steyer, Mac Heller, Miles Rubin and John Bryson.

The company previously raised around $75 million in VC funding, plus received $394 million in capital commitments as part of a joint venture with Lishen Power Battery. That deal included $100 million in equity from undisclosed backers, and a $294 million line of credit commitment from the Bank of Tianjin Joint-Stock Co.

Coda Automotive, a Santa Monica, Calif.-based electric car and battery company, has secured $394 million in capital commitments for its joint venture with Lishen Power Battery. The deal includes $100 million in equity from undisclosed backers, and a $294 million line of credit commitment from the Bank of Tianjin Joint-Stock Co.

CODA previously raised over $75 million in VC funding from the Angeleno Group, company founder Miles Rubin, Mac Heller (Coda co-chair), Kevin Czinger (Coda president and CEO), Hank Paulsen (former U.S. Treasury Secretary), John Bryson (ex-Edison Int’l CEO), Mack McLarty (former chief of staff for President Clinton) and Thomas Steyer (founder of Farallon Capital Management).

Coda Automotive, a Santa Monica, Calif.-based electric car and battery company, has held a $25 million first close on its Series C funding round. No investor information was disclosed.

The company previously raised $49 million, from the Angeleno Group, company founder Miles Rubin, Mac Heller (Coda co-chair), Kevin Czinger (Coda president and CEO), Hank Paulsen (former U.S. Treasury Secretary), John Bryson (ex-Edison Int’l CEO), Mack McLarty (former chief of staff for President Clinton) and Thomas Steyer (founder of Farallon Capital Management).

Hank Paulson tiptoed into the venture capital waters today, participating in a $24 million Series B round for electric car and battery maker Coda Automotive. He also agreed to join the Santa Monica, Calif.-based company’s board of advisors. So does Paulson want to become the next John Doerr? Well, it’s probably more likely than Doerr [...]

Coda Automotive, a Santa Monica, Calif.-based electric car and battery company, has raised $24 million in Series B funding. Return backers include the Angeleno Group and company founder Miles Rubin. New investors include Mac Heller (Coda co-chair), Kevin Czinger (Coda president and CEO), Hank Paulsen (former U.S. Treasury Secretary), John Bryson (ex-Edison Int’l CEO), Mack McLarty (former chief of staff for President Clinton) and Thomas Steyer (founder of Farallon Capital Management).