VC investment in green technologies, renewable energy exceeds $2.5bn in Q4 2008Venture capital investment in green technologies exceeded $2.5bn in the fourth quarter of 2008, down from the previous quarter's total of $2.9bn, according to Greentech Media Inc.
Solar technology was the most popular segment, with more than $1.3bn invested in 29 venture capital rounds, up from 26 rounds in the third quarter.
Venture firms also invested heavily in biofuels such as cellulosic ethanol and algae, with more than $350m directed towards these new feedstocks and technologies.
'Greentech VC investors remain optimistic on this sector and still have faith in the VC model. Investors continue to fund early stage deals as well as later stage deals,' said Eric Wesoff, senior analyst at Greentech Media. 'At least 30 of the 115 deals this quarter were seed stage or A rounds.'
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