WHO GOT SOLAR VC $$$ IN Q2

Where The $376 Million In Solar Venture-Capital Funding Went In Q2

17 July 2012 (Solar Industry)

“Venture-capital (VC) funding in the solar sector continued to rise steadily in the second quarter, according to Mercom Capital Group's new report on funding and mergers and acquisitions (M&A) activity in the solar market…VC funding totaled $376 million in 32 deals in the second quarter, compared to $329 million in 34 deals in the first quarter…Downstream companies received the most funding, with $133 million in nine deals, followed by thin-film companies, with $121 million in four deals…

“… VC investment in BOS companies has totaled just $35 million this year…The top five VC funding deals made up approximately 71% of the total funding this quarter, led by a $70 million raise by copper indium gallium diselenide thin-film maker Nanosolar. Other top VC deals included $60 million by solar lease company SunRun and a $55 million raise by solar energy services provider SunEdison.”

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“Other top deals were $33 million raised by thin-film equipment and coating company Beneq and $25 million each raised by microinverter company SolarBridge and mono-crystalline silicon cell company Solexel…There were 60 different VC investors that participated in the 32 deals…The U.S. continued to be the dominant country for VC investments, accounting for approximately 87% of all VC funding in the second quarter…

“M&A activity in the solar sector totaled $325 million in 14 transactions in the second quarter. Only six of these transactions disclosed details…The top M&A transaction was the acquisition of Zhejiang Topoint Photovoltaic, a Chinese monocrystalline and polycrystalline maker, for $276 million by Guangxi Beisheng Pharmaceutical...The second quarter also saw 13 new cleantech and solar-focused investment funds announced, committing a total of $3.2 billion…”

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