Issue Date: February 2, 2009
Venture Capitalists Put Big Bucks In 'Cleantech'
U.S. venture capitalists spent $28.3 billion on investments in start-up firms in 2008, or 8% less than in 2007. But money for "cleantech" companies shot up by 52% in 2008 to $4.1 billion, according to the latest "MoneyTree Report," by PricewaterhouseCoopers and the National Venture Capital Association. The report relies on data from Thomson Reuters. The cleantech sector, which includes alternative energy, pollution control and recycling, power storage, and conservation, represented seven of the 10 largest deals of 2008. Overall, cleantech grabbed 15% of all venture capital in 2008. Investments in the life sciences sector, including biotechnology and medical devices, slipped 15% to $8 billion. Even so, it remained the number one investment sector in 2008, accounting for 28% of all venture capital invested. However, all start-ups struggled for funding as the economy worsened in the last quarter when investments slowed by 26%, according to the report.
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