Cleantech To Get Big Chunk Of Khosla VC

Silicon Valley venture capital firm Khosla Ventures has announced a new $1.05 billion fund that will be used to help early-stage cleantech, IT, mobile and internet technology companies. According to Khosla, half of the money will be invested in the cleantech sector.

The new Khosla Ventures IV fund will go toward furthering the  firm’s strategy of helping entrepreneurs develop breakthrough and innovative ideas. The fund’s founder, Vinod Khosla, said the company has identified a “Clean Dozen” companies in cleantech that can reach unsubsidized market competitiveness. An additional “Cool Dozen” companies in the area of Internet, mobile and consumer health have also been identified.

cellulosic ethanol plant, abengoa

image via Shutterstock

The new fund follows the firm’s successful investment in three biofuels and biochemical  companies, all of which have since gone public.  The companies include Amyris, an industrial synthetic biology platform, Gevo, a renewable chemicals and advanced biofuels company, and KiOR, a renewable fuels company that has developed a proprietary technology platform to convert biomass into renewable gasoline and diesel blendstocks.

Khosla Ventures said it remains committed to seeking out disruptors in traditional and unconventional areas of venture investing. In addition to biofuel and biochemical companies, the firm is looking to invest in environmentally friendly technologies like bioplastics, solar and batteries.

Kristy Hessman is a writer and native Oregonian who currently resides in California. Before starting her own company, she worked as a reporter covering business and politics for daily newspapers and The Associated Press.