Reports

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Venture Capital Funding Quarterly

Alternative Energy • Clean Technology • Energy • Environmental

3rd Quarter, 2009 - United States

Published by: VentureDeal

Summary

During the third quarter of 2009, a total of 35 companies received $421 million in new venture capital financing, representing an 8% decrease in the number of companies being funded and an 8% decrease in the total amount funded to the four sectors of Alternative Energy, Clean Tech, Energy and Environmental.

Alternative Energy companies showed the only deal funding volume percentage increase of the four categories, with a 20 % increase quarter over quarter. The Clean Tech sector showed a sharp decrease in activity, with an 86% decrease in amounts funded. Energy funding amounts were also down, with an 18% funding decrease and the number of companies funded decreasing by 27%.


Funding Activity

Alternative Energy

Alternative Energy companies, which usually include solar, biofuels, wind power, hydrogen and other non-fossil fuel energy developers, continued to receive the largest share of funding of the four industry sectors. 20 companies received $292 million in venture capital financing, which represented a 25% increase in the number of companies being funded and a 20% funding increase versus the second quarter of 2009.

Two solar companies funded during the quarter accounted for over 50% of the entire sector funding. SolFocus raised $77 million in its series C funding round from a large syndicate of both private equity and venture capital investors. The company said it would use the funding proceeds to align its operations and engineering efforts. Suniva garnered $75 million in its third round of funding. Interestingly, both companies included investors New Enterprise Associates and Apex Venture Partners in their investment syndicates.

In the wind energy space, Optiwind landed $3 million in new financing. The company is placing medium sized wind turbines on school sites, business and government locations.

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