A Different Kind of VC-Backed Ethanol Company
Cleantech may ultimately save the venture capital industry, but many investors now acknowledge three related problems that could stop such salvation in its tracks: (1) VCs have invested too many dollars into production/manufacturing companies that will require project financing; (2) Most VCs don’t really understand project financing, let alone production/manufacturing; and (3) Even if they did understand project financing, it wouldn’t matter because there is so little of it available. Some of the smart cleantech money, therefore, is beginning to go toward companies that want to sell or license their technologies to existing – and experienced – industry. An example of that came this morning, when Qteros announced that it had raised $25 million in Series B funding. Venrock led the round
