Venture capitalists have fled clean-tech investing. This is due to the fall in the price of oil, and to the lingering global recession, which has nailed shut the market for IPOs.
VCs have moved away from early stage clean-tech investing, says Jon Bananno
In the first quarter, clean-tech investments plummeted 59 percent with only 15 deals completed, down from 24 deals a year ago.
“The clean-tech investing business is somewhat in the doldrums,” says Dan Adler, president of the California Clean Energy Fund. “We’re back to where we were in 2005.”
Adler and several of his colleagues hope to see this change, and on Tuesday formed a network of angel investors to back clean-tech startups.
The aim of the Cleantech Angel Network of Networks is to close a funding gap that Adler and others say exists for the earliest of clean-tech companies. A lot of VCs moved away from backing early-stage startups in the category, says Jon Bonanno, chairman Keiretsu Forum’s Cleantech Investment Committee.
Along with the California Clean Energy Fund and Keiretsu, the network includes Kuwait Petroleum Energy Ventures – firms that together represent as much as $40 million in investment capital, says Mark Nydam, managing director at PCG Asset Management. The hope is other members will join.
The announcement of the angel network was made at the Dow Jones Alternative Energy Innovations conference in Redwood Shores.
TechPulse 360
Mark Boslet
[...] 2. Cleantech Angel Investors Form A Network For Finding Deals [...]
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Hi,
My company wants cleantech angel funds for solar products, can u guide me how to proceed .
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You ask a very complicated question. There is no easy or simple formula. I would suggest attending conferences that permit young companies to pitch their business plans. I also suggest working your networks to identify angels that are interested in your space. Hope this helps.
We seem to be on the same page. Keep up the good work.