Front Core Capital Interested in US Cleantech As Investments Reaches $1.14 Billion in Q1 2011
The US cleantech market experienced continuing momentum, both from a venture capital perspective and among the larger investment community.
- (1888PressRelease) May 18, 2011 - US venture capital investment in cleantech companies increased by 54% to $1.14 billion in Q1 2011 from $743.3 million in Q1 2010, despite a 13% decrease in deals year on year from 79 to 69. The top 10 deals in Q1 2011 totaled $683.1 million, 60% of the total raised for the quarter and two deals accounted for 18% of the total dollars raised.
The US cleantech market experienced continuing momentum, both from a venture capital perspective and among the larger investment community. The second generation of solar companies and larger, later stage rounds dominated VC investor interest in Q1.
The Energy / Electricity Generation segment, led by strong solar investments, raised $450.3 million through 16 deals in Q1 2011. The solar sub-segment accounted for 32% of the total dollars raised for the quarter with $362.7 million, a 162% gain from Q1 2010.
Large investments also bolstered the Energy Storage segment to be the second largest in terms of dollars in Q1 2011. The segment is up 671% year on year after raising $262.4 million through 10 deals. Battery companies drew in $121 million of this investment compared to $8 million in Q1 2010, a 1405% increase, while Fuel cell companies attracted $106 million in Q1 2011, a 308% increase year on year.
In Q1 2011, the Industry Focused Products and Services segment ranked third with respect to total amount raised. It attracted $161.86 million, a 27% decrease from the $221 million raised in Q1 10.
The Alternative fuels segment, led by biofuel companies, raised $160 million, 14% of the total dollars raised in Q1 2011. Finally, the Energy Efficiency sector raised $95 million in Q1 2011, down 49% from the $187 million raised in Q1 2010.
Companies generating revenue raised $596.4 million, 52% of the total dollars invested in Q1 2011, up from just 34% in the same period last year. Later stage rounds accounted for 28 deals and $721.6 million, representing 67% of the total quarterly investment compared to 57% in Q1 2010. However, first round investment also increased by 77% to $146.1 million compared to $82.7 million in Q1 2010.
In Q1 2011, California accounted for 56% of the total dollars funded with $637.2 million, up 41% year on year. Northern California attracted 79% of dollars raised throughout California. This quarter was also strong for investment in the Southeast and the New England regions. Companies in the Southeast garnered $150.2 million, a 6159% from Q1 2010, and New England area companies attracted $174.23 million, a 193% increase compared to Q1 2010.
About Front Core Capital -
Front Core Capital is a Venture Capital and Financial service company. Front Core Capital caters to the expectations of knowledgeable and discerning investors who seek the highest return on their investments. Front Core Capital is a wholly independent company and, as such, is not restricted in any of the funds or investment products we may wish to utilize for our clients' wealth management and financial planning purposes.
Press Contact at Front Core Capital -
Zach Amiran, press-contact ( @ ) frontcorecapital dot com
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