Twenty First Century Utilities has acquired GridPoint, an Arlington, Virginia-based cleantech company. No financial terms were disclosed. GridPoint’s backers included Goldman Sachs and New Enterprise Associates.Continue
XL Group plc‘s venture capital fund XL Innovate has acquired New Energy Risk Inc. No financial terms were disclosed. New Energy Risk is a products provider for the cleantech sector.Continue
Highlights from Q1 includes the $27 million raised by Stem, which provides predictive analytics and [...]Continue
Vancouver-based cleantech venture firm Chrysalix Energy Venture Capital has appointed Peter Bryant to its advisory board. Bryant is a partner at Clareo and a senior advisor at Q Advisors.Continue
Cleantech funds continue to take it on the chin, but improvements from Element, NGEN standout [...]Continue
OneEnergy Renewables has received $5 million in Series B financing. Ecosystem Integrity Fund led the round, with participation from other investors that include members of the cleantech angel group Element 8. In conjunction with the funding, Devin Whatley, an EIF partner, has been added to the company’s board of directors. OneEnergy is a provider of utility-scale solar PV projects.Continue
Cleantech investing has taken it on the chin so far this year. Venture capital going [...]Continue
Cleantech returns" is widely seen as an oxymoron. The belief is that nothing much has [...]Continue
SolarCity launches an IPO last week as CEO Lyndon Rive sits down with VCJ for [...]Continue
Garage Technology Ventures is kicking off a cleantech investment initiative with a corporate partner that it hopes will blossom into a broader program and reach well beyond the energy industry.Continue
Khosla Ventures’ performance numbers don’t look bad considering its heavy allocation to clean technology. But the firm hasn’t really sold much. It’s hanging on to stakes in now-public biofuel companies and most of best performing investments are still private.Continue
Cleantech funds are hardly barnburners, but it is interesting to note that many may have performance multiples of at least capital invested. This is according to Preqin, which in a recent report found the median multiple for cleantech funds is above 1.00x. The company compares distributions and fund value with cash invested. The company said […]Continue
Here are the 10 posts that garnered the most unique pageviews from peHUB’s regular readers from Nov. 14 to Nov. 18. A photo slideshow of our Dallas Shindig topped the list, followed by an analysis of how Kleiner’s and Sequoia’s distributions to the University of California have slowed down and a look at the VCs that made bank on IPOs this week.
ONE: Slideshow: Howdy, Dallas Shindigers! – by Lawrence Aragon
TWO: How UC’s Distributions from Kleiner and Sequoia Have Slowed Since 2003 (slideshow) – by Mark Boslet
THREE: VCs Could Cash in on Angie’s List and 4 Other IPOs this Week (slideshow) – by Lawrence Aragon
FOUR: Scorecard: American Buyout Shops In Europe – by David Toll
FIVE: Why Great Entrepreneurs Take Big Risks And Sometimes Get Fired – by Ben Smith
SIX: Slideshow: Permira Ramps Up U.S. Activity – by Bernard Vaughan
SEVEN: One to Watch: Manu Kumar of K9 Ventures – by Connie Loizos
EIGHT: Summify CEO: U.S. Immigration Issues Drove Us to Vancouver – by Connie Loizos
NINE: Top 10 U.S. Buyout and Mezz Fundraisings YTD (subscribers only) – by Angela Sormani
TEN: Slideshow: Top 10 Global Cleantech Funds Raised YTD (subscribers only) – by Angela Sormani
Too busy to keep up with your reading this week? No worries. We’ve got you covered. Here are the top 10 posts that garnered the most unique pageviews from regular readers from Nov. 7 to 11.
ONE: Here’s How VCs Did on Groupon Investment of ‘Like a Billion Dollars’ – by Lawrence Aragon
TWO: Top 10 U.S. Buyout and Mezz Fundraisings YTD – by Angela Sormani
THREE: Where Groupon Shares Go from Here? This List Gives a Hint – by Connie Loizos
FOUR: Slideshow: Top 10 Global Cleantech Funds Raised YTD – by Angela Sormani
FIVE: Silicon Valley Is A Multi-Inning Game, Relationships Are How You Play – by Ben Smith
SIX: Seven Terrible Startup Names, and One Really Great New One (subscribers only) – by Connie Loizos
SEVEN: VCs Are Working Hard on Job-Related Startups (slideshow) – by Joanna Glasner
EIGHT: Scoop: Elevation Partners Looks to Raise up to $1.9B for Growth Fund – by Luisa Beltran
NINE: Up to Half of PE General Partnerships Could Disappear in Next Five Years: Report – by Luisa Beltran
TEN: Hicks Muse Successor Struggles With Media Deals; Brodsky Gone – by Bernard Vaughan
(Reuters) – David Prend is one of the most respected investors in green technology — but even he picks some losers.
Like the Department of Energy, Prend thought Solyndra, an innovative solar company, was a good bet. His venture capital firm, RockPort Capital, began investing in the company three years before the federal government gave the startup a loan guarantee. RockPort eventually put more than $63.5 million into Solyndra.
As revealed in emails released by the White House, Prend, who sat on the company’s board, also touted the company to President Barack Obama’s staff as a stellar example of green job creation and urged the president to visit its California plant.
But the Solyndra bet went bad — for Prend, the DOE, and other investors such as Henry Kravis and Richard Branson. That’s not so unusual in the field of green tech. A closer look at Prend’s portfolio …Continue
Vinod Khosla is said to have has closed a new $1.05 billion fund that will enable his firm, Khosla Ventures, to continue its cleantech as well as Internet and mobile investing. (Update: The new fund, Khosla Ventures IV, along with a vow not to follow the herd but to originate new areas, was announced in […]Continue
Boston-Power Inc. announced today that it has raised $125 million in new venture and Chinese government financing as part of a major corporate shakeup that will lead to the construction of a lithium-ion battery factory in China. The Westborough, Mass.-based company said the new equity round is led by Beijing-based GSR Ventures and joined by […]Continue
(Reuters) – Tom Perkins, co-founder of Kleiner Perkins Caufield & Byers and the backer of companies ranging from Genentech to Google, believes much of the venture capital industry has set itself up for failure.
“Mathematically, there’s no way that all venture capital in America will make 10 to 1,” or $10 for every dollar invested — a fairly typical return in past years — Perkins told Reuters.
There is too much money chasing too few companies, he said, and the increasingly large sums invested mean failures will hurt more. Firms hit by outsized failures will find it hard to …Continue