A good tool for all you cleantech VCs and Founders out there: Joel Moxley, an EIR at Northbridge, came up with a pretty useful prior-art search engine, PriorSmart. Check it out.
Evolutionary Genomics, which is developing biofuel feedstocks with improved yields, has raised a round of financing (amount undisclosed) from Altira Group.
Jonathan Shieber at VentureWire wrote today that AMR developer Silver Spring Networks has raised an additional $17.4mm in what appears to be an insider Series C extension (with members from existing investors Foundation Capital, Edison Electric Institute and JVB Properties participating). The original Series C was previously reported to be $40mm, last year.
That Independent story on the UK VC scene is a little overblown - 3i’s been doing next to nowt in the early-stage space for years, so their recent announcement just confirmed what everyone knew. Established firms move up-market - it’s always happened, and will continue to do so. Anyway, 3i’s not symptomatic of the UK market - they’re adamant they’re a global player, so the move should say as much about the global market as the domestic.The figures show an increase in seed and early-stage deals, at least up till 2006, for the UK and Europe. It’s not as active a market as in the US, but it’s still in relatively good shape. Interestingly, a fair few low-end investors I’ve spoken to say that the problem isn’t in VC supply, but in demand - there’s barely enough quality early-stage businesses to take the money that’s currently in the market. Maybe that says something about the appetite for risk, or quality of entrepreneurship, but I don’t think lack of VCs is the problem.
Rob Day is a Partner with Black Coral Capital, based in Boston. He has been a cleantech private equity investor since 2004, and acts or has served as a Director, Observer and advisory board member to multiple companies in the energy tech and related sectors. Rob was a co-founder of the Renewable Energy Business Network (www.rebn.org), a non-profit organization which was acquired in 2009 by the Clean Economy Network. The views expressed on this blog are those of Rob, not necessarily the views of any of his colleagues and affiliated organizations. Contact Rob at .(JavaScript must be enabled to view this email address).
contact rob at .(JavaScript must be enabled to view this email address)