Report: Cleantech Drives Q3 VC Spending

Oct 21 2009 | 1:18pm ET

Venture capitalists invested $4.8 billion in 637deals in the third quarter of 2009, according to the MoneyTree Report from PricewaterhouseCoopers  and the National Venture Capital Association.

In dollar terms, investment activity was up 17% from Q209, thanks to several large rounds in the cleantech sector, one of which was the ninth largest deal since 1995.

In terms of the number of deals, however, activity was down 3% compared to the second quarter, which saw 657 transactions.

The life sciences sector (biotechnology and medical device industries combined) also had a solid quarter relative to other industry sectors, while software fell to third place.

“The increase in venture capital investing this quarter is very encouraging,” noted PwC managing partner Tracy Lefteroff. “With the signs pointing to an economic recovery, albeit a slow one, we’re likely to see the pace of investing continue to strengthen over the next several quarters as long as the IPO markets begin to open up and M&A activity increases.”

The cleantech sector, comprising alternative energy, pollution and recycling, power supplies and conservation, saw an 89% increase in dollars over the second quarter to $898 million. The number of deals completed in the third quarter increased 16% to 57. Q3 cleantech investments included three of the top 10 deals of the quarter.

The report predicts that total annual VC investments for 2009 will exceed $15 billion.


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