September 17th, 2009
Where politics and greentech money merge: Silicon Valley
At least one of the Silicon Valley VC firms moving in greentech sector sees a clear connection between politics and greentech start-ups. No surprise the firm is The Westly Group, headed by former gubernatorial candidate, Steve Westly.
Here’s how they position themselves on the VC firm’s website: “We believe that with the Obama administration, and other governments in Western Europe and Asia, committing hundreds of billions of dollars to clean tech, there has never been a better time to launch clean tech companies. The Westly Group is uniquely positioned to take advantage of this surge of interest and growth.
“To win in the clean technology space, a company must navigate the halls of government, build a team that knows how to move fast, and meet the modern regulatory standards required of public companies. We pride ourselves on our ability to help our portfolio companies grow and succeed under these conditions.”
Clearly they understand that technology and politics will never be separate areas of interest.
The VC firm just announced it’s raised well over $100-million that’ll go into greentech investments.
Westly Group has already invested in a range of firms including Tesla. Here’s their online portfolio. My fav is Revolution Foods, trying to push the junk food out of school cafeterias. Best of luck. We Americans love our fat, our food additives and our cardiac problems.
A newsman since 1969, Harry Fuller has worked for CBS, ABC, CNBC Europe, CNET and was founding news director at TechTV. See his full profile and disclosure of his industry affiliations.
Subscribe to GreenTech Pastures via Email alerts or RSS.
