VC Investment Rises For Mass. Clean-tech Sector
The Massachusetts clean-tech industry raised $191 million in venture capital funding in the second quarter of 2011, up from $119 million in the first quarter, according to the California-based Cleantech Group.
Worldwide, clean-tech venture investment fell 33 percent from the first quarter to $1.83 billion. In North America, companies in the industry raised $1.42 billion, a drop of 37 percent.
Massachusetts was home to 13 percent of the nation's VC activity, the second most of any U.S. state in the quarter. California's clean-tech sector had by far the most VC activity, $611 million. The third most active state was Texas with $108 million.
Clean-tech encompasses a variety of "green" technologies, including alternative energy, energy efficiency, biofuels and alternative transportation.
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