Is Clean-Tech in Trouble? A Longtime Investor Shares His Perspective
Last week, the venture firm @Ventures put together a presentation critical of the clean tech venture industry. In the slideshow, which has been making the rounds, @Ventures suggests there are a number of unsustainable trends in the sector right now, including a glut of late-stage funds putting excessive amounts of capital to work in companies with no exit opportunities on the horizon. (A full 80 percent of the “herd” is moving to late-stage and “balanced” investing, says @Ventures.) I thought it made sense to ask David Lincoln what he made of the presentation. Lincoln has been on the scene a lot longer than many of his peers in the industry, having cofounded EnerTech Capital in Wayne, Pa., in 1996 and before that, a private equity firm called Deven Resources that developed and acquired energy properties.
