Massachusetts, United States [RenewableEnergyWorld.com] After what some experts have referred to as disappointing quarters in Q4 of 2007 and Q1 of 2008, cleantech venture investing has come out of its slump in Q2 with a record 66 deals and US $897 million invested, topping the previous record of 55 deals and US $736 million set in Q3 of 2007, according to Topline Strategy Group.
Topline’s most recent Follow the Money cleantech investment update said that the gains appear to be driven by two main factors, an increase in cleantech investments across all regions of the country and the maturation of investments made over the previous two years.
Most of the growth in Q2 was fueled by follow on rounds from earlier investments, the report said. However, in Q2, a total of 26 cleantech companies received their first round of venture capital. These companies raised a total of US $302 million in rounds ranging from US $150,000 to US $132 million. The 26 companies and US $302 million invested represent 9.5% of all companies receiving first round investments and 15.7% of all first round investment dollars.
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