Venture capital investment in clean technology (cleantech) continued its recovery in the third quarter of 2009, after significant declines in Q4FY08 and Q1FY09, paralleling the global economic downturn, according to a preliminary report from Cleantech Group and Deloitte.
Investments in the sector continued to decline. Indian cleantech companies raised $21.5 million (around Rs 102 crore) in five investment rounds. Another five M&A deals were tracked with a total value of $142 million (around Rs 678 crore), of which two deal values were not disclosed. Energy generation attracted the most interest and, in particular, the wind sector.
“The billions in government funding being allocated globally in clean technology have begun emboldening private capital, which has in turn helped propel clean technology to the leading venture investment sector, now eclipsing biotech and IT. Hundreds of millions of dollars in new venture funds this quarter are also evidence of investor confidence and momentum, including $1.1 billion in two new funds by Khosla Ventures alone,” Cleantech Group Managing Director Dallas Kachan said.
Companies involved in M&A deals this quarter were Schneider Electric India, Techno Electric & Engineering, Chloride Group, Luminous Power Technologies and IDFC Private Equity.
