Mercom Capital Group Reports Second Quarter 2011 Funding and M&A Activity for Smart Grid

Smart Grid venture capital (VC) funding in Q2 2011 came in at $104 million in 15 deals, compared to $76 million in 13 deals in Q1 of 2011. Thirty-one different investors participated in these funding rounds.

“The first half of 2010 saw almost $400 million in VC funding compared to just $180 million in the first half of this year. The second quarter was a blockbuster M&A quarter with $4.3 billion in M&A activity for nine transactions. This totals more than all M&A transactions combined since Q1 of 2010,” commented Raj Prabhu, Managing Partner at Mercom Capital Group.

The top five VC transactions were led by iControl Networks’ raise of $50 million, which accounted for almost half of all VC funding in Q2. That was followed by JouleX who raised $17 million, Chetas Control Systems with $13.5 million, On-Ramp Wireless with $11.5 million and Panoramic Power with $4.5 million.

Merger and acquisition (M&A) activity in the Smart Grid sector amounted to a whopping $4.3 billion in nine transactions compared to $300 million in Q1 of 2011. The most significant M&A transactions were Toshiba Corporation’s acquisition of Landis+Gyr for $2.3 billion and Schneider Electric’s acquisition of Telvent for $2 billion.

Another significant transaction this quarter was the $675 million in debt raised by Sensus.

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