New Money Moves into the VacuumArthur Eves
Though typical sources for energy funding may be laggards there is good news on the energy investment front. According to Chris Morrison over at VentureBeat there’s been a flood of investment into Cleantech in the past few days. Kleiner Perkins just announced a $500 million Green Growth Fund for late stage investments, Al Gore’s Generation Investment Mangement fund has put up another $683 million and Foundation Capital is putting nearly a third of their money ($250 million) into green energy. Private equity is also jumping in.
This money will likely go into alternatives rather than conventional energy use and may lead to game-changing breakthroughs — or so the investors hope. Is John Galt hiding out there somewhere?