Fundraising for cleantech vehicles has been falling in recent years, according to Preqin. Funds including a preference for cleantech and focused on North America have fallen from accounting for 42% of capital raised in 2013 to just 18% in 2014. The US has lost ground to China in this segment. The majority of capital in this sector was redirected to Asia and Europe with regional vehicles collecting 41% and 35% of aggregate capital respectively.
Of the 176 funds, the regional focus is evenly split across North America, Europe and Asia. Despite accounting for a slightly higher number of vehicles, North America-focused funds lag well behind other regions in terms of aggregate capital sought, says Preqin. For example, Europe-focused funds are targeting USD 22bn while North America-focused vehicles are seeking only USD 8.6bn.
Asset finance of utility-scale renewable energy projects is the strongest area of investment in cleantech, with private equity and VC representing only a tiny proportion of the overall investment totals, according to BNEF. Total investment in clean energy in 2014 was USD 310 bn, up 16% from 2014 (figure includes asset finance, stock market, and VC/PE) the second highest annual figure ever, behind only 2011′s record of USD 317.5bn.
Cleantech, venture capital trends, fundraising, Preqin