Lightspeed Venture Partners, a venture capital firm that has made a number of cleantech investments, has released a list of five cleantech predictions for 2009. The predictions are listed below — the firm's blog contains more information associated with each prediction:
- Cleantech funding will slow significantly, forcing startups to seek alternative growth strategies
- Companies will come under increased pressure to achieve competitive cost economics
- Investor interest in energy storage, especially for automotive and grid-scale applications, to grow strongly
- Government will play larger role in cleantech, as policymakers around the country increase their support
- Cleantech comes of age in China
In addition, below is a presentation from Andrew Chung, Principal at Lightspeed Venture Partners, that provides an overview of cleantech venture capital investing and Lightspeed's investments in this sector (click image to view presentation):
In May, Lightspeed Venture Partners, a global venture capital firm, announced that it closed its Lightspeed Venture Partners VIII, L.P. fund with $800 million of limited partner commitments. Lightspeed now has a total of more than $2 billion in committed capital.
One of the focus areas of this Lightspeed fund will be cleantech, including the energy generation, efficiency and storage sectors. Lightspeed’s current cleantech portfolio includes Coaltek, Exclara, GreenTech Media, LS9, Mobius Power, Solazyme, and Stion.
For more information:
Greentech Media, a Cambridge, Massachusetts-based online media company, announced on Tuesday that it raised $2.75 million in Series B financing. This round was co-led by new investors EGORA Holding and The Massachusetts Green Energy Fund. Existing investors Lightspeed Venture Partners and Northport Private Equity also participated, along with new investor King Hill Capital. Greentech Media previously raised a $1 million series A round in May, 2007.
Greentech Media said that it will use the new funds to expand its staff, news coverage, products, and sales efforts. In conjunction with this funding news and its growth strategy, Greentech Media also announced the hiring of former CNET editor Michael Kanellos as senior analyst.
For more information: