This document summarizes clean technology investment trends in the first half of 2015. Global cleantech venture capital investment reached $4 billion, with North America receiving 76% led by California. Late-stage deals accounted for higher total funding despite lower deal volumes. Transportation technologies received the most venture funding. Notable venture deals included $314 million for an Indian taxi service and $250 million for a Chinese home rental company. Several cleantech companies also had successful IPOs and acquisitions in the first half of the year.

1. 1H2015 Innovation Monitor
Presented by i3

2. Trends
Top Venture Deals & Corporate Investors
Exits: IPO + M&A Highlights
Contents

3. Trends
Top Venture Deals & Corporate Investors
Exits: IPO + M&A Highlights
Contents

4. Global Cleantech Venture Capital Investment
$ Billions, Deal Volume
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Healthy Dollar Investment; Lower Deal Volume
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5. Average Deal Size Continues Rebound from 1Q2013
Average Round Sizes in Clean Technology Venture Capital
$ Millions
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6. Global 1H15 Cleantech Venture Capital Investment
Top Geographies by Deal Volume
N.A. takes 76% of investment w/ CA making up 41% of deal volume
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EU & Israel
Asia Pacific
North
America
76%
18%
6%
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7. Increasing percentage of deals featuring corporates
Corporate Deal Volume, % of Total Deals w/ Corporate Participation
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8. Despite lower volume, late stage deals keep $ total up
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Annual Cleantech Venture Capital Investment with Corporate Participation
Billions, Deal Volume
*Dollar totals inclusive of co-investors
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9. Sector Shares of Cleantech Venture Capital (Deals)
Powered by Data From i3*Excluded sectors include: nuclear, wind, geothermal, and others
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10. Trends
Top Venture Deals & Corporate Investors
Exits: IPO + M&A Highlights
Contents

11. Top 2Q15 Venture Deals
Description Round Size InvestorsCompany
India-based provider of on-demand
taxi-hailing services
$314M
DTS Global, Accel Partners, Tiger Global
Management, Steadview Capital
Chinese provider of P2P rentals similar
to AirBnB
$250M All-Stars Investment, Ctrip
On-demand ride-sharing service
provider
$150M Icahn Enterprises
China-based provider of on-demand
taxi hailing services
$142M Weibo
Developer of technology to eliminate
electrical conversion loss
$70M KKR
Developer of vanadium redox flow
battery systems
$58.2M
VantagePoint Capital Partners, Starwood Energy
Group
Developer of microbial strain
optimization technology
$44M
Data Collective, DFJ, Obvious Ventures, Innovation
Endeavors, True Ventures, others
Manufacturer of weather and ocean
monitoring micro-satellites
$40M
RRE Ventures, Lemnos Labs, Bessemer Venture
Partners, Jump Capital, Promus Ventures
Developer of off-grid solar power
solutions for telecom towers
$40M
Capricorn Investment Group, IFC, Future Fund,
Bessemer Venture Partners
Manufacturer of algae derived biofuels
incorporating recycled CO2
$34M Flagship Ventures
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12. Top corporate investors in 2Q15
Investments (values inclusive of co-investors)Corporate
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$16M $11M
N/A N/A
$8M $7M N/A
$23M $17M $15M
$13M $12M $11M
$6M $4M N/A

13. Trends
Top Venture Deals & Corporate Investors
Exits: IPO + M&A Highlights
Contents

14. 1H15 Cleantech M&A Highlights
Acquirer Target Venture BackersDeal Size/PIC
$265M
$85M
Hudson Clean Energy Partners, JEM
Partners, Mohr Davidow
$252M
$37M
Samsung Ventures, EDC, EnerTech Capital,
W2 Investments
$200M
$44M
Accel Partners, Bessemer Venture Partners,
Helion Venture Partners, Blume Ventures
$149M
N/A
Undisclosed
$130M
N/A
Undisclosed
$30M
$22M
Yellowstone Capital Partners, VC Fund of
New England, Parker Hannifin
N/A
$4M
BP Ventures, ConocoPhillips, Formation 8
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15. 2014 Cleantech M&A Highlights
Acquirer Acquired Venture BackersDeal Size/PIC
$3.2B
$132M
Google Ventures, KPCB, Lightspeed Venture
Partners, Generation I.M., Point Judith
Capital, Shasta Ventures, InterTrust
$2.4B
$500M
$91M
Khosla Ventures, Bessemer Venture
Partners, Canaan Partners, Norwest
Venture Partners
$350M
$80M
GSR Ventures, New Margin Ventures, DT
Capital Partners
$335M
N/A
Insight Venture Partners
$200M
$85M
BASF Venture Capital, Khosla Ventures,
Total Energy Ventures, Oak Investment
Partners, CalPERS, PCG Asset Management
$200M
$16.7M
SV Angel, First Round Capital, Lerer Hippau
Ventures, CrunchFund, A-Grade
Investments, Greylock Partners, others
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16. Manufacturer of solar
system power components
$1.2B
NASDAQ
GE Ventures, Lightspeed Venture Partners,
Norwest Venture Partners, Genesis Capital,
others
Smart home services
provider
$732M
NASDAQ
First Solar & SunPower joint
yield-co
$420M
NASDAQ
(Filed)
-
Producer of woody biomass
pellets and fuels
$402M
NYSE
Riverstone/Carlyle Renewable Energy
Partners
Climate resistant crop trait
developer
$234M
NASDAQ
Vilmorin, BASF Venture Capital, Saints
Capital, Mandala Capital, Exeter Life Sciences
Residential solar company
$100M
NASDAQ
(Filed)
Foundation Capital, Accel Partners, Sequoia
Capital, Madrone Capital Partners
1H15 Cleantech IPO Highlights
Description Market Cap Pre-IPO InvestorsCompany
8Point3
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17. Residential solar system
installer
$1.2B Blackstone
China-based cleanweb car
services provider
$823M
Qiming Venture Partners, Ignition Partners,
CDH Investments, Goldman Sachs, New
Access Capital
Customer engagement and
billing analytics SaaS
developer for utilities
$608M
NEA, KPCB, Accel Partners, New Cycle
Capital, MHS Capital Partners
High-performance LED
manufacturer
$355M Investissements W2, Fonds de solidarite FTQ
Fuel cell developer $260M
Credit Suisse, SSE Ventures, Altima Partners,
Artemis Global Energy, Government of
Singapore Investment Corporation
Developer of advanced
aerogel insulation products
$148M
RockPort Capital Partners, Lehman Brothers,
ATEL Ventures, Taijin Corporation, Tae Kwang
New Tec, Reservoir Capital, BASF Venture
Capital, Fidelity Investments
2014 Cleantech IPOs
Description Market Cap Pre-IPO InvestorsCompany
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18. Thank You.
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