Wednesday, March 28, 2007

Cleantech funding

If anyone needed proof that clean technologies are seen as both critical to our collective future and potentially profitable, today’s news (1) of a $62.5 million fund should help convince them of those realities.

Piper Jaffray closed on its Clean Tech fund at the end of last month, making money available VCs with "environmentally-friendly portfolios."

Another bit that point to an encouraging future for cleantech: "The bank set out to raise $25 million, but after word got out about the effort, the fund more than doubled in size, and investors were eventually turned away."

Couple that news with John Doerr’s pronouncement (2) that "cleantech the biggest economic opportunity of this century," and you may come to realize, as I have, that cleantech is no longer just being given lip service by big biz and gov.

I’ll close this with a quote from my friend and colleague, Jack Uldrich: "The bottom line is that, like Doerr, I believe cleantech will be huge. I also believe there will be many technologies and companies taking part in the solution."



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