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The Cleantech Venture Network this week unveiled its Q3 cleantech VC investment results. Total equity capital invested in North America reached $934M, representing a 11% increase from the $843M from Q2 and capturing 14.3% of the $6.5B invested in VC deals across all sectors. However, some observations behind the lofty numbers:

* Fewer deals are getting done, while average deal sizes continue to rise. Only 47 deals were done in Q3, compared to 61 in Q2 and 69 in Q3 last year. Nearly all of the capital ($924M) went into later stage deals, and average deal size rose sharply to $19.9M from $13.8M in Q2. Cilion (ethanol), Altra (ethanol/biodiesel), Ion America (fuel cell), Renewable Energy Group (biodiesel), and Newmarket (recycling of computer equipment) led the pack, representing 61.3% of the total investment in cleantech and commanding an average deal size of $115M.

* Number of investors participating in these deals has cooled off somewhat. In Q3, there were 85 investor groups participating in a transaction, compared to 109 in Q3 of last year. New cleantech investors totaled 3, compared to 36 from the same period last year. Both metrics have declined steadily since last year. Khosla continues to lead the field with 4 investments during Q3.

* Cleantech exits were steady during the quarter, but no home runs in the pack. The 5 largest M&A transactions averaged $118.7M per deal. Energy-related companies accounted for 24 of the 34 M&A transactions, mostly in the area of energy generation. The 5 largest IPO’s raised an average of $180M, with Valero GP Holdings (oil pipeline systems) reaching a market cap of $935M at IPO. Energy-related IPO’s represented 13 of the 14 exits.

See the full press release here.

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HOPKINTON, Mass. – November 1, 2006 – EMC Corporation, the world leader in information management and storage, today announced the signing of a definitive agreement to acquire privately-held Avamar Technologies, Inc., a fast-growing provider of enterprise-class data protection software featuring industry-leading data de-duplication technology. EMC will acquire the Irvine, California-based company in a cash transaction valued at approximately $165 million. The acquisition is expected to be completed within 30 days and is not expected to have a material impact on EMC’s revenue or EPS for 2006.

Winner of this year’s Storage magazine “Product of the Year” award for best backup and recovery software, Avamar advances EMC’s core strengths in information protection and recovery management, radically changing the way customers protect their data and accelerating the widespread move from tape to disk-based recovery solutions.

See the full press release here.

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Mountain View, CA, October 30, 2006 — Rhythm NewMedia, a pioneer in mobile advertising, announced that it has closed $18 million in Series B financing. Carlyle Venture Partners, the US venture and growth arm of The Carlyle Group, a global private equity firm with over $44 billion under management, led this up round, joined by all existing institutional investors. Allan Thygesen, a Carlyle Managing Director, has joined the Rhythm NewMedia board of directors, joining existing investors Gary Little from Morgenthaler Ventures and Chris Schaepe from Lightspeed Venture Partners.

Rhythm was seed funded by Rembrandt Venture Partners. Lightspeed and Morgenthaler co-led the Series A in July 2005.

See the full press release here.

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SHANGHAI, China, and SAN FRANCISCO, Calif., Oct. 9, 2006—Advanced Micro-Fabrication Equipment Inc. (AMEC), an emerging Asia-based developer of innovative semiconductor processing technology and equipment, today completed its Series B financing, which raised $35 million. The financing will fund commercialization of …

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SAN FRANCISCO–(BUSINESS WIRE)–Sept. 21, 2006–Riverbed Technology, Inc. (Nasdaq:RVBD) today announced an initial public offering of 8.7 million shares of its common stock at a price of $9.75 per share. Riverbed has also granted the underwriters a …

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