Green venture fund raises $1 billion | MNN - Mother Nature Network

Green venture fund raises $1 billion | MNN - Mother Nature Network

A Silicon Valley investor with a penchant for green technology raised $1 billion for a new venture fund. His vision: Science experiments and clean technologies to lower our carbon footprint.

By E.B. Solomont

BIG BUCKS FOR BIG IDEAS: Vinod Khosla is a venture capitalist and founder of Sun Microsystems and Khosla Ventures.(Photo: Chip Somodevilla/Getty Images)

A well-known Silicon Valley investor with a penchant for green technology companies has raised more than $1 billion for two new venture funds.

Vinod Khosla, the California businessman who has spent hundreds of millions of his own money on clean-tech deals, said Khosla Ventures will fund start-ups that focus on clean energy, sustainability and information technology. It will make investments of up to $15 million from its main $800 million fund and offer seed money to the tune of $2 million to early-stage ideas from its smaller $275 million fund.

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