Wednesday, October 20, 2010

Investors Line Up Against Prop 23

A number of California venture capital investors have joined an effort opposing Proposition 23, the California ballet initiative which looks to halt the state's clean energy law. In a statement released to the press, a long list of investors said that, if Prop 23 passes, "(it) would cause California to lose billions of dollars of investment and thousands of jobs to competitors like China, Japan, Germany, or other U.S. states that have more stable commitments to clean energy policy." Investors involved in the opposition include Advanced Technology Ventures, Canaan Partners, CMEA Capital, Element Partners, Essex Investment Management, Expansion Capital Partners, Firelake Capital Management, Flybridge Capital Partners, Globescan Capital Partners, Kleiner Perkins Caufield & Byers, MDV- Mohr Davidow Ventures, MissionPoint Capital Partners, Morgenthaler Ventures, Noventi Ventures, Nth Power, Parnassus Investments, Physic Ventures, SAIL Venture Partners, Scale Venture Partners, Spring Ventures, SVB Capital, Technology Partners, U.S. Venture Partners, VantagePoint Venture Partners, Velocity Venture Capital, Venrock, and Walden Asset Management.