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Green Venture Capital December 16, 2006

Posted by Unreasonable in Energy Matters, Matters Technological.
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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:

WSJ: 

As of last spring, Kleiner said it planned to set aside $100 million for cleantech investments.  Where does that stand now?

Ray LaneRay Lane: 

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.

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