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The tree-hugging sector has found its way back into the spotlight. A new report from the Cleantech Group, in conjunction with Deloitte & Touche, pegs venture capital in the cleantech sector up 29% from the fourth quarter of 2009 to the first quarter of this year -- and up 83% year over year. In fact, VC action in cleantech set a new record for the number of deals closed (the previous best, 165, was set in the prior quarter). A total of $1.9 billion was invested last quarter in 180 cleantech companies.
According to Sheeraz Haji, president of the Cleantech Group, "The first quarter's bounce back in terms of venture capital investment compared to 2009's early lows bodes well for what we think is in store for the remainder of the year." Haji continues, "North America was particularly dominant this quarter."
Of the total, $1.5 billion was raised in North America – amounting to 81%. It was also up 79% from a slow quarter at the end of 2009, which is being characterized as a "blip." The first quarter result for North America is a three-year high for the region. Companies in Europe and Israel raised only $257 million in 43 disclosed rounds, representing a decline of 49%, accounting for 14% of first quarter VC investment in cleantech. China and India together were responsible for less than 5%.
Within cleantech, the transportation sector had a record quarter, raking in $704 million, almost half of which ($350 million) came from a Series B round investment in Better Place. Energy efficiency closed the largest number of rounds (39). In the solar sector, 27 deals were good for $322 million in capital.
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Reader Comments (Page 1 of 1)
4-15-2010 @ 12:13AM
sherry.william85 said...
Cleantech is a term used to describe knowledge-based products or services that improve operational performance, productivity, or efficiency while reducing costs, inputs, energy consumption, waste, or pollution. Its origin is the increased consumer, regulatory and industry interest in clean forms of energy generation specifically, perhaps, the rise in awareness of global warming, climate change and the impact on the natural environment from the burning of fossil fuels. The term cleantech is often associated with venture capital funds.
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