Khosla closes $1.05B fund, half to go to clean tech

Date: 18 October 2011
NWill Khosla re-energize the clean tech industry following the Solyndra debacle?Khosla Ventures has closed its $1.05 billion Khosla IV fund, the VC firm announced late Thursday.

The new fund will focus on early stage investments in clean tech, IT, mobile, and Internet technology.  But in demonstrating his true commitment to clean tech, the VC firm confirms that roughly half of the fund will be devoted exclusively to clean tech investments, proving that the struggling industry still has some champions.

The move comes right after the Solyndra fiasco, in which the solar panel manufacturer filed for bankruptcy after receiving $500 million in federal loans.  The drama has exploded into a complex tangle of he-said/she-said, complete with alleged tax evasion and accusations of carelessness and failure on the White House’s part.  Solyndra CEO Brian Harrison officially resigned on Thursday.

Vinod Khosla is not daunted, however, calling the quagmire a “speed bump” for solar energy companies in a recent interview.  But he acknowledged that those in the solar energy industry will probably half a tough time raising funds.

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