According to the preliminary numbers compiled by Mercom Capital Group, Venture Capital (VC) funding in the solar sector so far this year has surpassed 2010 totals. Year to date VC funding (as of Nov. 30, 2011) amounts to $1.71 billion compared to $1.67 billion in in 2010.
The number of venture deals this year crossed the 100+ mark for the first time and will make 2011 the best year in terms of number of venture deals in a year.
On a positive note for the industry, more than half a billion VC dollars went into 30+ deals since the Solyndra bankruptcy announcement, at the end of August.
“VC funding activity since the Solyndra bankruptcy has been strong and it looks like the market has moved on,” commented Raj Prabhu, Managing Partner at Mercom Capital Group. “This is good news in an otherwise tough market.”
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