Khosla Ventures has raised more than $1 billion for renewable energy and clean technology funds, according to a Reuters report.
This was the first time that the well-respected venture capital firm raised funds from outside investors.
The last few quarters have seen a decline in fundraising among VC firms, paralleled by a decline in investments in the cleantech sectors. However, investment was up in 2Q09, compared to 1Q09, suggesting that a turnaround may be underway.
According to Reuters, Khosla Ventures’ new funds include the $250 million Khosla Ventures Seed fund for high-risk projects, and Khosla Ventures III, targeted at early and mid-stage firms. Both funds were reportedly oversubscribed.
Khosla Ventures’ has been a strong supporter of biofuel companys such as Mascoma, Coskata, Range Fuels and Verenium. Other investments include solar thermal company Ausra and geothermal company AltaRock.
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