CorporateVC investments in cleantech firms dip 13% in 2009
Mirroring the impact of the global meltdown across sectors, investments by venture capital (VC) companies in clean technology companies fell 13 per cent on year in 2009.
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According to a study by Cleantech Group and Deloitte, Indian companies raised $190 million (Rs 866.4 crore) last year compared to $218 million (Rs 994.1 crore) in 2008.
Biofuels was the pick of venture capitalists with the segment witnessing 55 per cent of the investments.
Over the last two-three years, Indian companies engaged in developing clean or green technology had attracted significant interest from local and global venture capital and private equity companies. A number of private equity funds targeting the clean technology space are raising capital from investors to invest in India.
Among these is private equity firm Olympus Capital, which is raising $250 million (Rs 1,140 crore) to invest in renewable energy and environmental services companies in Asia.
Global Environment Fund and YES Bank are also jointly raising a $200 million (Rs 91.2 crore) clean energy fund for South Asia.