Green Venture Capital December 16, 2006Posted by Unreasonable in Energy Matters, Matters Technological.
Kleiner Perkins is famous for funding Amazon, Google, and Netscape. Now they have put a substantial portion of their capital to work in green energy investments. From an interview in Thursday’s Wall Street Journal:
As of last spring, Kleiner said it planned to set aside $100 million for cleantech investments. Where does that stand now?
We’ve doubled it. The way we think of it half our resources (main stream investments, not including special funds) are going to green tech right now.
They are also awarding $100,000 prize every year to companies that make significant advances in green technology. I love the prize idea in general: #1, #2. However, this one doesn’t seem to be very effective for spurring innovation. To do that a prize needs to be very large and be rewarded for a specific goal that’s stated up front. This seems to be designed for spurring press coverage.