The State of Green Funding in 2008 — So Far


As the first quarter of 2008 roars by like a 747 stuffed with biofuels, our research peers are tallying up the amount of cleantech investing that went down. Between $988 million and $1.25 billion globally, according to two reports out this week, the lower figure from Greentech Media and the upper number from the Cleantech Group.

That’s pretty good. While the Cleantech Group notes that its figure is a slight decline from the third quarter of 2007, it’s the most ever recorded for a first-quarter period, which previously hadn’t brought in more than $1 billion. Greentech Media says 2008 is on “a record pace.”

Sector Overview via Greentech Media’s :

Top 5 Sectors from Cleantech Group (for North America):

  • Biofuels, $195 million, 5 deals
  • Solar, $119 million, 8 deals
  • LED lighting, $100 million, 5 deals
  • Materials, $96 million, 3 deals
  • Li-ion Batteries, $58 million, 3 deals

As you can see they’re a little bit different, mostly what Greentech Media included in its solar sector. There must have been a lot of solar fundings outside the U.S. and Canada this quarter. We emailed them to get more info on the difference.

Now our favorite green VC battle of the quarter, via Cleantech Group:

  • Khosla Ventures, 9 deals, $205 million
  • New Enterprise Associates, 4 deals, $84.4 million
  • Kleiner Perkins Caufield & Byers, 4 deals, $80 million
  • Element Partners, 4 deals, $68.9 million
  • Israel Cleantech Ventures, 4 deals, $16.6 million

Khosla, you always seem to be way up there, as does Kleiner. NEA, Element and Israel Cleantech Ventures less commonly hit the top.

And finally, the biggest individual rounds from the startups themselves via Cleantech Group:

  • Range Fuels, cellulosic ethanol, $100 million
  • Luminus, Solid state lighting, $72 million
  • Infinia, Stirling engines, $50 million
  • Suniva, Solar cell production, $50 million
  • Boston Power, Li-ion batteries, $45 million

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