Cleantech venture investment continued its recovery in Q3 of 2009 according to preliminary results from the Cleantech Group. Following a rebound in Q209, the Q309 total is up a further 10 percent compared to the previous quarter but down 42 percent compared to Q3 of 2008 (press release).
The global stimulus money flowing into cleantech also boosted private investment in the sector. The cleantech investments in North America, Europe, China and India totalled $1.59b in Q309. Cleantech is now the largest category for venture capital investment, eclipsing biotech and IT. According to the Cleantech Group, the sector already accounted for 27 percent of venture capital in the second quarter this year (see the graph above). Here is a link to the release.
The average round size in the third quarter was down to $12m (from $12.9m) while the average size of follow-on rounds increased to $16m (from $15m).
The leading investment sector was solar, which received $451m in Q309 with 24 deals. The second largest, transportation, received $383m for 27 companies in vehicles, biofuels and advanced batteries. This included an investment by the Finnish firm Valmet Automotive in Norwegian firm Think Global in a $46m round. The third top sector was green buildings, which attracted $110m.