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02/02/2009 09:57 AM

VantagePoint Ready To Invest $1B in Cleantech

SustainableBusiness.com News

VantagePoint Venture Partners, a Silicon Valley venture capital firm, plans to invest more than $1 billion in green startups over the next 24 to 30 months, according to a Reuters report.

Managing Partner Alan Salzman told Reuters his firm is "well funded" and will likely invest 10 to 15 companies in 2009.

However, Salzman said the clean tech industry is underfunded, considering the large capital requirements needed to help the industry get off the ground.

"There is probably less than $10 billion available in the venture capital industry over the next 24 months for cleantech projects," he said.

Link to the report below.

Website: http://planetark.org/enviro-news/item/51422

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