Westly Group Founder Promotes Chinese Cleantech

Oct 16 2009 | 12:49pm ET

Silicon Valley venture capitalist (and former gubernatorial candidate) Steve Westly says VC firms should not only invest in cleantech – they should invest in Chinese cleantech.

Steve WestlySteve WestlyWestly made the comments this week during a cleantech conference sponsored by the Silicon Valley law firm Cooley Godward.

“No VC firm should be without a China strategy,” he told several hundred conference participants. “China will pass the U.S. in 20 years as the largest economy in the world. There are only two countries that matter – the U.S. and China. They create 40% of the world’s pollution, and the other 191 countries divvy up the rest….I go to China every 90 days – China knows the big health issues they’re facing.”

China has imposed more stringent fuel efficiency standards than the U.S. (42MPG compared to 39MPG, offers a bigger solar and wind energy investment tax credit (50% against 30%), and is calling for 20% of its energy to be produced from renewable sources by 2020.

The Westly Group is currently looking for Chinese companies in which to invest its new $120 million fund, which invests in B or C rounds and expects to see a return within two to four years.


In Depth

Part II: Roubini Talks Risk, Recovery And The Threat Of A Triple Dip Recession

Oct 21 2014 | 12:41pm ET

In the second half of our interview with Nouriel Roubini, FINalternatives editor...

Lifestyle

Balyasny Pays Over $6M For Lakefront House

Oct 22 2014 | 10:29am ET

A venture headed by hedge fund manager Dmitry Balyasny just paid $6.2 million for...

Guest Contributor

Hedge Funds Weather A Data Management Perfect Storm

Oct 22 2014 | 12:28pm ET

From a regulatory standpoint, nearly every development since the crisis has placed...

 

Videos

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

October 2014 Cover

Deeply flawed risk benchmark

Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.