![\"\"](\"http:\/\/www.greenenergyreporter.com\/wp-content\/themes\/v1\/img\/cat\/cleantech.png\" "\\"Cleantech\\"")
![\"\"](\"http:\/\/www.greenenergyreporter.com\/wp-content\/themes\/v1\/img\/cat\/funding.png\" "\\"Funding\\"")
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By Mark Boslet, co-editor, TechPulse360<\/a><\/p>\n Venture capitalists returned enthusiastically to clean-tech investing in the first quarter, increasing their spending. But they shun solar companies for electric cars and backed away from the smart grid. To hedge their bets, they spread their money more broadly than in the past, putting smaller sums in more companies.<\/p>\n Clean-tech start-ups globally received $1.9 billion during the three months, an 83 percent boost from the first quarter of 2009, when the depths of the recession brought investing to a stand still. Investments rebounded 29 percent from a soft fourth quarter, which perhaps is a more telling sign of the renewed vigor in the sector.<\/p>\n<\/div>\n The number of deals in the quarter \u2013 180 \u2013 set a record, edging out the 165 of the fourth quarter, according to a investment survey<\/a> released by the Cleantech Group and accounting firm Deloitte.<\/p>\n <\/span><\/p>\n In North America, VCs turned in their largest quarterly investment total in a year and a half. Venture firms in the region accounted for 81 percent of total dollars.<\/p>\n Perhaps the most disappointing news from the quarter was that venture investors continue to feed their portfolios, pouring most of their money into existing companies instead of new start-ups.<\/p>\n The transportation sector, including electric cars, was the quarter\u2019s largest category. The electric car battery-swapping venture, Better Place, took in $350 million and electric carmaker Fisker raised $140 million. Battery maker Coda Automotive added $30 million to its bank account.<\/p>\n The greatest number of deals took place among energy-efficiency start-ups, including LED lighting companies.<\/p>\n Overseas, venture investing in Europe and Israel was down compared with the fourth quarter.<\/p>\n\n