Venture capitalists expect investments in 2010 to rebound after two sluggish years hampered by the global financial crisis. A majority says a lot of the early stage VC investments will support renewable energy startups.
In A recent survey of 200 venture capitalists conducted by tax and advisory firm KPMG, 77 percent of the surveyed venture capitalists expected investments supporting renewable energy companies to grow. About 15 percent of the respondents say investments will grow by at least 20 percent, the Boston Globe reports.
GER will actually be able to assess first hand the mood of the venture capital community at the MIT Energy Conference, which we’re attending today and tomorrow.
Across all industries, 67 percent of respondents expect venture investments across all industries to increase in 2010 from 2009 levels. Last year, only 23 percent of respondents predicted an increase in investments.
Where in cleantech will that money go? KPMG says there is a slight shift away from solar and wind companies, in favor of energy storage solutions.
The Globe reports:
Of the respondents, 38 percent said that the energy storage and efficiency sector would see the most investment – up from 33 percent in the 2009 survey. Meanwhile, 30 percent expect renewable energy to get the most investment money in the next two years – a drop of six percentage points compared with last year’s survey.