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VCs: Just in green tech for the money?


If you’re a VC and you’re drawing up your New Year’s resolutions, then you might be adding ‘spend more on green tech’ to your list. The folks over at Wired have a word of caution though:

“In 2008, you’re going to see a lot of (clean-tech) venture flameouts,” said Erik Straser, general partner at Mohr Davidow, which is heavily invested in clean tech. “Fundamentally the market drivers are very strong for these companies, but companies are going to have trouble in the market execution. And a lot of capital has gone into a lot of companies.”

But fear not, it’s not bleak news for green investment this bleak midwinter.

Still, venture capitalists are fundamentally optimistic about green technology. Much as VC-powered internet companies continue to challenge traditional media businesses, investors are hoping their clean-tech investments will topple another aging cash-rich industry: energy. Egged on by IPOs in the clean-energy industry, but particularly in solar power, a host of venture capitalists has raised clean-tech or green-tech funds.

Greenbang hasn’t felt this warm and fuzzy since she last watched It’s A Wonderful Life.

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