For those who think Silicon Valley’s best days are behind us- I have great news to share.
When it comes to Venture Capital funding – those entrepreneurs who place their wallets where there words are – the results are in for the second quarter of investment throughout the United States. In the past 90 days, $6.5 billion was invested across the country, with an amazing 45 percent invested right here in Silicon Valley – a whopping $2.9 billion. No other region in the country received more than single digits, other than Southern California, with 13 percent.
There’s more good news. VC’s are placing their bets on a green energy economy, with the biggest beneficiaries going to the renewable energy sector – whose job growth continues to be the rainbow on an otherwise dark cloud in California’s economy. In fact, while California was losing jobs during this downturn, renewable energy jobs increased by five percent.
This past quarter, the Bay Area had seven of the ten biggest VC deals, with electric car infrastructure company Better Place of Palo Alto securing the biggest deal in the country at $350 million.
Silicon Valley: Proving once again that a green economy attracts the biggest stack of green backs.