The rise of cleantech in the VC industry

This research investigates the venture capital activity in the U.S. cleantech industry in the last decade. It concentrates on the participation of governmental VC actor types in the funding of cleantech start-ups; VC firms experience levels and the likelihood to syndicate cleantech investments. The results suggest that the presence of governmental VC actor in the funding round increase the odds that the funded company is from the cleantech sector. I also find that cleantech start-ups are more likely to be funded by more experienced VCs. However, there is no evidence of syndication in the sector.