$1bn raised for Cleantech by Khosla

Post date: Sep 02, 2009 9:3:30 AM

Vinod Khosla U.S. wikipedia “It’s really geared toward science experiments,”

Founder of Sun Microsystems “The goal there is very much to take risks

has raised a billion dollars for two that nobody else will take.” (Khosla)

new funds, Khosla Ventures III and

Khosla Ventures Seed.

Limited partners replace personal Investing <<< Changing money rules !

First, it’s pretty bullish for the cleantech sector.

Khosla, one of the most active and aggressive investors

in cleantech, has moved away from the personal investing

model and managed to convince limited partners to commit

a whopping $1 billion.

source: businessinsider.com

In addition to raising $1.1 billion, Khosla Ventures also brought in two new partners, including Gideon Yu, the former CFO at Facebook and YouTube, and James Kim, who ran the clean-tech investing at CMEA Capital and GE Capital.

Bolstered by the partners’ own investment of roughly $100 million, the California Public Employees Retirement System, or CalPERS, invested $60 million in the seed fund and $200 million in the main fund