Clean-tech venture capital jumps 54 percent in first quarter

May 11, 2011 By Tiffany Hsu

Venture capitalists spent the first quarter of the year dousing the clean-tech industry with attention, giving more money to fewer companies and hiking investment 54 percent.

Green companies raised $1.1 billion in the first three months of 2011 compared to $743.3 million in the same period last year, according to Ernst & Young and data from DowJones Venture Source. The number of deals fell to 69 from 79.

Santa Clara, Calif.-based MiaSole, which makes thin-film photovoltaic solar panels, raised $106 million in one deal in February and is considering going public.

In the lead since at least 2005, California had by far the most deals - 30, compared to seven in Massachusetts. The state's companies attracted $637 million in investment in this year's first quarter, nearly 42 percent higher year over year.

Northern California's 24 deals pulled in $505 million compared to 32 deals drawing $332 million over the same period last year. Six deals total in Southern California ended up with $132 million - $84 million from the Los Angeles metro area, $48 million from San Diego and a sliver from Orange County.

The energy-generation sector was the major player over the quarter, reeling in $450 million compared to $158 million year over year. Solar power companies alone hooked $363 million compared to last year's $139 million pot.

Energy storage also was hot - put in $262 million, a whopping 670 percent increase from the $34 million raised during the first quarter of 2010. Both the battery and fuel-cell segments saw similar booms.

The $50 million poured into natural gas companies in the exceeded the $40 million invested over all of 2010.

Explore further: Huge drop in clean-tech venture funding


Related Stories

Huge drop in clean-tech venture funding

May 13, 2009

Investments in clean-tech startups plummeted in the first quarter of 2009 compared with recent quarters, according to a report issued this week by Ernst & Young.

Venture-cap investments decline 7 percent in 3Q

October 15, 2010

(AP) -- Venture capitalists poured less money into U.S. startups in the third quarter and split this among more companies, signaling that investors are trying to be more economical with their funds.

Venture-capital investments down 33 pct in 3Q

October 20, 2009

(AP) -- Venture capitalists' investments in U.S. startups rose in the third quarter when compared with the first two quarters of the year, suggesting increased confidence in the economy. When compared with the year-ago period, ...

Venture-cap investments fall 7 percent in Q4

January 21, 2011

(AP) -- Funding to startups slipped in the fourth quarter of 2010 as venture capitalists funneled less money into fewer companies, with biotechnology taking the brunt of the drop-off, according to a study slated for release ...

Venture-cap investments rise in 1Q

April 15, 2011

(AP) -- Funding to U.S. startups climbed during the first three months of the year, with venture capitalists putting more money into fewer companies, according to a study scheduled to be released Friday. Despite the decline ...

Venture capital investments decline in 4th qtr

January 22, 2010

(AP) -- Venture capitalists invested less money in U.S. startups in the fourth quarter and showed signs of spreading out those fewer dollars among more companies, reflecting continued caution amid uncertainty about the economy.

Recommended for you


Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.