Cleantech Feeling the Love from Venture Capital Firms – The Wall Street Journal and Los Angeles Times

According to Ernst & Young and data from DowJones Venture Source, cleantech venture capital jumped 54 percent in the first quarter of 2011. While the number of deals decreased from 79 in Q1 of 2010 to 69 this quarter, total money raised increased to $1.1 billion from $743.3 in the same period last year.
From The Wall Street Journal Venture Capital Dispatch …
U.S. venture capital investment in cleantech companies increased by 54% to $1.14 billion in the first quarter of 2011 from $743.3 million in last year’s first quarter, despite a 13% decrease in deals year on year from 79 to 69, according to an Ernst & Young analysis based on data from Dow Jones VentureSource. Solar power companies accounted for 32% of the total dollars raised for the quarter with $362.7 million, a 162% gain from Q1 2010.
Read the full The Wall Street Journal article
From The Los Angeles Times …
In the lead since at least 2005, California had by far the most deals — 30, compared to seven in Massachusetts. The state’s clean-tech companies attracted $637 million in investment in this year’s first quarter, nearly 42% higher year over year. The energy-generation sector was the major player over the quarter, reeling in $450 million compared to $158 million year over year. Solar power companies alone hooked $363 million compared to last year’s $139 million pot.
Click here to read the full Los Angeles Times article