Billion-Dollar VC Fund Focuses on Cleantech

Khosla Ventures closed a $1.05 billion fund and plans to invest about half in clean technology, The Wall Street Journal reports. The fund ranks among the top 5 largest new venture funds this year, according to VentureSource.

So far, venture investing in cleantech is down this year, with $1.1 billion going into the sector in Q2, which is down 44% from the $1.9 billion invested a year earlier, reports the Journal.

Despite the volatile environment for cleantech, Khosla Ventures founder Vinod Khosla sees opportunity in biofuels and energy-efficient lighting. Mr. Khosla co-founded Sun Microsystems Inc. and previously worked at Kleiner Perkins Caufield & Byers.

Renewable chemicals and biofuels company Gevo Inc. and renewable fuels company KiOR Inc., which went public this year, were both Khosla-backed companies.

To read the full article by The Wall Street Journal cited in this story, click here

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