Sector trumps energy generation in attracting investment dollars
Kyle Alspach, May 28, 2010. Energy service companies that promise greater efficiency through information technology are getting increased attention from venture capitalists locally and nationally, part of a shift among VCs away from clean energy generation investments.
Two VCs in the region recently made their first forays into energy, with investments in the growing “energy IT” space. The firms — CommonAngels in Lexington and Point Judith Capital in Providence — invested in Massachusetts energy services companies that tout efficiency by making information about energy use more easily accessible to clients.
Officials at both VCs said they have plans to add more energy IT firms to their portfolios in the near future.
[Nexamp note: Nexamp is the company in which Point Judith Capital has invested $6.5 million, as discussed later in the article] Link to Article