Cleantech or Infotech?
July 18th, 2007 by Jim Savage
Two seemingly contradictory news items caught my eye yesterday. A Boston Globe article cited research showing that VCs are moving cautiously on investing in “cleantech.” Meanwhile, a second item announced that prominent Silicon Valley VC, Kleiner Perkins had just invested in Verdiem, a software company with an application that helps large corporations reduce their energy bills by managing the power consumption of desktop computers across the enterprise.
While Longworth doesn’t invest in cleantech, we do invest in innovative software companies and we actually considered investing in Verdiem a couple years ago. We declined because they are Seattle-based and we believe that our style of active early-stage investing is best done closer to home. Having met the team and used their products, we were happy to introduce the company to our friends at Catamount Ventures who led a round of funding in 2005. We are excited to see that the company has made good progress since and has attracted interest from strong new investors. Whether you call it innovative software or cleantech we think that this will become an increasingly interesting market opportunity.
Subscribe to our Feed
