Investment trends, market analysis
& authoritative Commentary
Venture investment in climatetech surged to new heights in 2021.
Roaring past $30 billion across nearly 600 completed transactions, climatetech deals saw a year-over-year increase of more than 100% in deal value and close to 18% in deal count.
Nontraditional and corporate players participated in major proportions of climatetech deals in terms of both value and count, signifying a broadening base of investors active within the sector.
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“Corporations are increasingly making strategic investments in new energy technologies as they look for ways to expand their environmental stewardship programs.”
Christina Pearson
PARTNER
ELINA TEPLINSKY
PARTNER
"We are starting to see more pragmatic solutions to decarbonization, like balancing the increase of renewables in the energy mix with clean baseload energy, such as small modular reactors.”
Christina Pearson
PARTNER
“Corporations are increasingly making strategic investments in new energy technologies as they look for ways to expand their environmental stewardship programs.”
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Pillsbury lawyers inform companies around the world and across industries as they evolve and adapt to the challenges of the energy transition. From advancing new technologies to developing strategies for established companies to meet decarbonization goals, we provide energy stakeholders with comprehensive guidance based on vast industry experience and a track record of innovation and success.
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Energy Transition Resource Center
CLIMATETECH
Christina Pearson
Partner, Global Head of Pillsbury's Corporate & Securities-Tech Group
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Elina Teplinsky
Partner, Global Head of Pillsbury's Energy Industry Group
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Jorge Medina
Partner, Co-leader of Pillsbury's Renewable Energy Practice
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Climatetech median VC deal size by stage
Share of climatetech VC exit count by type
Throughout the 2010’s, led by the audacious advent of Tesla, mobilitytech solutions saw an explosion in both venture financing volume and value.
First, investor types in the sector are increasingly diverse, with nontraditional investors like hedge funds and sovereign wealth funds joining traditional VC funds. Additionally, an expanding array of subsegments are experiencing growth thanks to slow but steady technical advances throughout the 2010s, and there has been accelerated deployment of climatetech innovation by public financial institutions, asset managers, governments, consumers and other parties.
Three themes unify the core drivers of rising climatetech investment.
SOURCE: PitchBook Geography: Global
*as of December 31, 2021
Climatetech VC deal activity
Share of climatetech VC deal count in top select verticals
Explore 2021 subsector trends
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Spotlight on Mobilitytech
Early-stage median pre-money valuations nearly doubled year-over-year, but the late-stage figure shifted much less, from $77.5 million to $84.5 million.
Explore 2021 investment
& valuation trends
Global exit value in climatetech totaled $79 billion over 58 completed exits in 2021, skyrocketing past the prior year’s total of $19 billion across 25 exits.
Explore 2021 climatetech
exit trends
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Climatetech:
Mobilitytech
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Climatetech:
Mobilitytech
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Climatetech: Cross-Border Dealmaking
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Venture Deal-Making & Cross-Border Investment Trends
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