The state of Illinois is trying to attract more venture capital investment. The push for venture capital is led by the state treasurer and may be partly a response to Wisconsin and New Jersey’s recent attempts to attract business away from Illinois. A new bill is designed to allow the state treasurer to invest 2% of the state’s portfolio into venture capital funds. Those funds will then invest in local start-ups and tech companies.Venture Capital Investment in Cleantech
U.S. Venture Capital Investment in Cleantech Jumps 8%
American venture capital investment in Cleantech increased 8% in 2010. Venture capital investment in the industry is now sitting at nearly $4 billion. This is an encouraging start to 2011 for the clean technology industry and venture capital as a whole.
Something to ponder: recent research papers in Energy Policy projected that “Using existing technologies, the world could convert almost entirely to green power by mid-century — and it wouldn’t cost much more than people now spend on energy.”
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UnZjbXhsZGk1amIyMHZRbXh2Wnk5cGJtUmxlQzV3YUhBL2QyRjBZMmc5TkRJeklqNXRiM1JvWlhKeklHRnVaQ0JrWVhWbmFIUmxjbk1nY0c5eWJpQjJhV1JsYjNNOEwyRStQQzlzYVQ0OEwzVnNQZz09With three IPOs executed by companies in the industry helping stimulate investor enthusiasm, venture capital financing of U.S. cleantech companies increased by 8% to about $4 billion in 2010, up from $3.7 billion the year before, according to an Ernst & Young report based on data from Dow Jones VentureSource.
Investments in solar technology businesses increased by 77% to about $1.6 billion in 2010. In the fourth quarter, solar investments totaled $279 million, an increase of 129% compared to the same period in 2009.
Investments in electric vehicles and charging stations totaled $695 million last year, including notably large deals completed by Better Place, Fisker Automotive, and Coda Automotive.
Seed round investments in cleantech companies also demonstrated a resurgence in 2010, accounting for 18, deal, which represents a 125% increase compared to 2009. Source
Venture Capital 2000-2010
Venture Capital’s Lost Decade
The last decade started off with a bang as the dot-com bubble burst in the beginning of 2000. The rest of the decade did not go very well for the venture capital industry, the aughts have been called the “lost decade” for venture capital. Surely, we’re all hoping that the next decade is better for venture capital. Given the increase in venture-backed IPOs in the end of last year, this year should yield more activity than the last few.
The “aughts” have given rise to a class of “zombies” in the venture industry. These zombie firms have made investments in companies but probably don’t have funding left to make new investments. These venture capital can’t raise another fund yet.
We’ve come up with a list of 18 large venture firms with most recent funds of $100 million or larger that fall into zombie territory and highlighted five in the most recent issue of Forbes Magazine.
The five largest zombie funds: Prospect Ventures‘ $500 million 2005 fund; Sanderling Ventures‘ $421 million 2004 fund; Healthcare Ventures’ $378 million 2005 fund; Alloy Ventures‘ $368 million 2005 fund; and Kodiak Venture Partners‘ $316 million 2004 fund. Source
Tags: Venture Capital, 2000 venture capital, venture capital 2010, venture capital aughts, venture capital firms, venture capital in 2010, venture capital 2011
Venture Capital New Orleans
Venture Capital Funding in New Orleans
Venture capital funds have filled a financing gap for start ups and small businesses in New Orleans. One of these venture capital funds is actually a non profit venture fund to help with economic development in the New Orleans area. The New Orleans Startup is funded by the Greater New Orleans Inc, a group that helps develop the still struggling city.
The New Orleans Startup fund is being spearheaded by Greater New Orleans Inc., a regional economic development group in southeastern Louisiana. Officials say it
currently stands at $3.9 million and the target size is $7 million. The fund consists of private, state and federal funds.
Qualifying companies must be located within the 10-parish New Orleans region and must demonstrate a clear plan to grow revenue to $20 million to $50 million annually within five to seven years.
Companies that qualify could get $25,000 to $250,000 from the fund. The fund also will provided technical assistance to qualifying companies. Source
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