In today’s Silicon Beat, Dana Hull profiles Garage Technology Ventures and why the company has not abandoned cleantech investing. If anything, its Managing Director Bill Reichert wants to put a spin on cleantech investing by co-managing the fund with a corporate partner.
Reichert believes the benefit of such an arrangement is that there’s an easy exit for the startup in terms of licensing technology to its strategic corporate partner or being acquired by it. The fund will put to work a small amount, between $20 and $40 million.
One of the most quoted lines from Warren Buffett is to “be fearful when others are greedy and greedy when others are fearful.” I think that goes for cleantech right now. The macro forces have not changed. Energy is getting more expensive, climate change is occurring, oil is a declining resource. And with less competition for deals out there, a well funded cleantech VC could have it pick of promising cleantech startups.
The new fund will focus on material science, next generation lighting and converting biomass to fuel.