The final three months of the year saw $2.06 billion go into 150 deals, down 6.2% in dollars from the third quarter and 27% in transactions, according to the Cleantech Group. Mergers and acquisition activity was weak, with only 70 deals taking place, compared with 86 in the third quarter and 145 in the first quarter.
The figures, released on Thursday, show a softening appetite for green investing. However, the full year totals measured in dollars were the second highest on record trailing only 2008, with $8.99 billion going into 713 companies.
The year also posted a near record for mergers, with 391 transactions taking place compared with 440 in 2010. The dollar value of transactions with disclosed terms was up sharply from 2010, the Cleantech Group report showed.
Cleantech investing continues to?see a shift of dollars into later stage deals. For the year, 85% of dollars went into Series B or later fundings.
And the IPO markets remained soft. The year saw 51 IPOs raise $9.59 billion. This was down from $16.41 billion raised in 2010.
In the fourth quarter, solar was the largest investment category, attracting a quarter of the cash dispersed. Transportation came in second, fueled by a $200 million round in Better Place, and energy efficiency investing followed a close third.
The most active investors were Kleiner Perkins Caufield & Byers, Khosla Ventures and Matrix Partners.
Despite the difficult quarter, the Cleantech Group is upbeat about the year ahead. ?We believe 2012 will be an all-time year for global cleantech investments,? said CEO Sheeraz Haji in a press release.
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