Gore Joins VC to Invest in Green

Ex-VP will work with Kleiner Perkins to invest in clean technology
By Laila Weir,  Newser Staff
Posted Nov 12, 2007 3:23 PM CST
Gore Joins VC to Invest in Green
(FILES)Former US Vice President Al Gore   (Getty Images)

Al Gore is joining Silicon Valley's leading venture capital firm in an initiative to invest in green technology. Kleiner Perkins Caufield & Byers, traditionally focused on IT, recently moved into the area of environmentally friendly businesses. Gore will be an active partner with the firm, which has already invested $270 million in sustainable ventures, reports Fortune.

Partner John Doerr said he'll judge success by environmental impact as well as financial returns. Kleiner Perkins made its first green investment 5 years ago but has yet to see a green venture "exit" its portfolio through IPO or sale. As part of the partnership, Doerr will advise a public company investment group Gore co-founded. Green tech, says Gore, can drive something "bigger than the Industrial Revolution and significantly faster." (More Al Gore stories.)

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