Follow The Money

Further evidence that investment dollars are staring to flow to clean energy projects (but not in the biofuel sector), the Los Angeles Times reports that Vinod Khosla, the famous Silicon Valley financier, has raised $1 billion for a fund that will invest in early and mid-stage companies in the green tech space.

According to the Times:

"It is the biggest first-time fund in a decade and comes as venture capital investment in green technology is just beginning to recover from a precipitous fall prompted by the global economic collapse last fall. In the first half of the year, investments in green tech plunged to $513 million from $2 billion in the first six months of 2008, according to a survey by PricewaterhouseCoopers."

Separately, the Wall Street Journal notes that all of the public sector money flowing to alternative energy deals through federal grants and tax incentives, is largely going to the benefit of foregin company companies that own the ventures, directly or indirectly.

More fodder for the debate over the role of government in private enterprise?

Khosla Ventures raises $1.1 billion to invest in green technology [Los Angeles Times]

U.S. Doles Out Grants for Energy Projects [Wall Street Journal]