Billion Dollar Green Fund Established by Venture Capitalist

Legendary venture capitalist Vinod Khosla has announced a new venture fund with one target in mind - green technology. Despite the flailing economy and dreary venture market, Khosla, a veteran silicon valley investor, has put up $1.1 billion towards the risky environmentally friendly market.

Many venture funds have shied away from green technologies as their markets have not been proven over time. Some might construe the green movement as simply that, a movement, not a permanent fixture of the new economy. Khosla has decided that there is money to be made in this new market, and the green market is here to stay.

Additionally, the high start up costs of cleantech and green technology (often because of the need to develop completely new, unproven technologies) has scared away other investors. Khosla is accepting additional partners in the investment fund, but it does appear he will remain the primary source.

The fund will actually be broken into two funds - one that invests in $5 to $15 million increments, and another that is looking for $2 million investments. This is the largest new fund since 2007.

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