Saturday, 23 August 2014
Last updated 19 hours ago
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.
Westly 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.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note