It’s been a tumultuous year and a half for clean technology investors. A series of reports and studies found that venture investment in cleantech startups dropped significantly in 2012 as traditional investors including insurance companies, pensions, and university endowments pulled out. That caused big failures at Hudson Clean Energy Partners and VantagePoint Partners, which admitted defeat on $2.75 billion in combined fundraising as investor interest flagged.
Venture firms responded by raising smaller funds and refocusing on capital-light startups. Deal volume dropped 25 percent in the first quarter of 2013 from the same period in 2012, and average deal size plummeted 66 percent to $2 million, according to PwC MoneyTree.