Energy futureIsraeli clean-car project largest recipient of VC clean-tech funding in 2007

Published 3 March 2008

Israeli electric car venture raises $200 million in first round financing — the largest single recipient of VC cleantech funding in 2007; total VC 2007 investment in cleantech: More than $3 billion

More than $3 billion in venture capital was invested in clean technology in 2007 (we will provide more details in tomorrow’s Daily Wire). There is no need to wait until tomorrow to point out the recipient of the largest amount of VC clean tech funding 2007: An Israeli clean car venture. Shai Agassi’s electric car venture Project Better Place raised $200 million in first round financing.

Dow Jones VentureSource said that $3 billion was invested in 221 cleantech deals in 2007 — 43 percent more than the $2.1 billion invested in 173 deals in 2006. The United States accounted for 83 percent of the capital raised, at $2.52 billion, 79 percent more than in the preceding year. Cleantech accounted for 8 percent of total venture capital investment in the United States in 2007.