Just over $325 million was invested in 57 emerging cleantech companies in the first quarter of 2003, accounting for just under 9% of overall venture activity, according to the most recent issue of the Cleantech Venture Monitor
Ann Arbor, MI - July 15, 2003 - Just over $325 million was invested in 57 emerging cleantech companies in the first quarter of 2003, accounting for just under 9% of overall venture activity, according to the most recent issue of the Cleantech Venture Monitor released today. First quarter cleantech investments almost doubled the amount invested in the first quarter of 2002, and increased by nearly 50% over the last quarter.
Highlights of the first quarter include:
- Cleantech investments are up 93% (compared to Q1 2002) and 48.4% (compared to Q4 2002) to $325.3 million.
- Average cleantech deal size grew to $5.7 million
- Energy related investments grew 71% (over Q4) to $123.6 million
- 40% of cleantech investments were made into west coast companies
- Follow-on investments captured 59% of the overall cleantech dollars
"While there appears to a greater concentration of capital in a smaller number of deals", says Nicholas Parker, Cleantech Venture Network Chairman, "there is an ever increasing number of investors entering the cleantech field. With new cleantech-oriented funds coming on stream and traditional venture funds putting their toes in the cleantech water, this sector is one of the few exceptions to a generally unpleasant venture environment".
These trends are consistent with Cleantech's second venture forum held in San Francisco at the beginning of May. With nearly 300 participants - double that of the inaugural forum six months before, the event was sold out. Attendees included some of the best-known venture groups in North America and Europe, including: 3i, Advent International, Battery Ventures, CDP Capital Partners, Draper Fisher Jurvetson, Intel Capital. Kleiner Perkins Caufield & Byers and Ventures West. As Sara Thurwachter of Fremont Ventures noted: "The clean technologies space is an area of increasing opportunity as demonstrated by both the quantity and quality of the companies that participated in the forum".
Publicly launched in July 2002, the Cleantech Venture Network is a market facilitation service providing venture forums, investment reports, and online services to investors and companies.
For additional information, please go to www.cleantechventure.com or contact: Keith Raab, CEO, firstname.lastname@example.org, 734-528-2979