Foundation Capital has closed on its sixth venture fund to date, pulling in $750 million, of which the firm says it plans to set aside a full $250 million for investment in the burgeoning cleantech space.
The firm’s investments in cleantech companies began back in 2003, but it has so placed relatively few bets, with half of those going to technologies focused on energy management for utilities and the commercial market. However, the firm also recently won one of three coveted spots in a new Department of Energy program, gaining the right to place an entrepreneur in Oak Ridge National Laboratory.
One of the firm’s entrepreneurs-in-resident, Ashmeet Sidana, also recently became a general partner. Skip Glass joined as operating partner, while Mike Brown and Steve Vassallo became principals.
Foundation also invests in consumer Internet, semiconductors, telecommunications and networking, and enterprise software. The firm’s last fund was $525 million, closed two years ago.
One Comment
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Sramana Mitra said:
My article, The Real VCs of Silicon Valley poses the question, Silicon Valley VCs are moving to later-stage investments and larger funds. Who, then, practices real venture capital?
You can read it here:
http://www.forbes.com/technology/2008/04/04/mitra-venture-capital-tech-intel-cx_sm_0404mitra.htmlAnd also access the discussion around this topics here:
http://sramanamitra.com/2008/03/25/first-time-entrepreneurs/
3 Trackbacks
12:08 pm
Sramana Mitra on Strategy said:
The Real VCs of Silicon Valley?…
Venturebeat reports that Foundation Capital has raised a $750 Million new fund. The firm’s last fund was $525 million, closed two years ago. Goes back to my question: Who are the real VCs of Silicon Valley? How can you practice true venture capital i…
8:54 am
Greentech Media: Cleantech Investing » Blog Archive » Go big or go home? said:
[...] big news in cleantech investing is the close of Foundation Capital’s latest fund, at $750mm, with $250mm set aside for cleantech. This is just the latest in a long string of big cleantech-related funds that have been raised, [...]
7:50 pm
Lightspeed Venture Partners raises fresh $800M global fund, looking to China and India | Silk Road To Dragon China said:
[...] the past month we’ve seen Foundation Capital take $750 million, Kleiner Perkins grab $700 million, plus its $500 million “Green Growth” fund, and now [...]