Attracting venture capital to help early-stage, radical cleantech ventures bridge the valley of death: 27 levers to influence the investor perceived risk-return ratio

Michelfelder, Ingo; Kant, Marvin; González, S.; Jay, Jason

doi:10.1016/j.jclepro.2022.133983

Journal of Cleaner Production

2022

DOI: 10.1016/j.jclepro.2022.133983

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Attracting venture capital to help early-stage, radical cleantech ventures bridge the valley of death: 27 levers to influence the investor perceived risk-return ratio

Ingo Michelfelder

Marvin Kant

S. González

et al.

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Cited by 4 publications

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Profit first, environmental impact second? Investigating hybrid institutional logics in venture capital investment approaches

Siefkes,

Hamer,

Haaland

et al. 2024

Bus Strat Env

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Despite a potential mismatch between characteristics of cleantech innovations and the venture capital model, there has been a surge of cleantech venture capital firms (VCs). This paper investigates how cleantech VC investment approaches are aligned with hybrid institutional logics. We mapped 36 European VCs regarding their portfolio firms' industries, technology focus, and level of innovation. From this sample, we interviewed nine VC investors to gain a comprehensive understanding of the phenomenon. The findings show a heterogenous landscape of cleantech VC investment approaches. Cleantech VCs finance mostly incremental innovations in highly emissive sectors. For several of the VCs, the findings highlight a disconnect between the externally communicated cleantech mission and lack of approaches for environmental impact management. We develop propositions for future research. This study adds novel empirical perspectives and contributes to the development of hybrid logics in institutional logics theory with a nuanced examination of the European VC cleantech market.

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Profit first, environmental impact second? Investigating hybrid institutional logics in venture capital investment approaches

Siefkes,

Hamer,

Haaland

et al. 2024

Bus Strat Env

View full text Add to dashboard Cite

show abstract

Mapping the significance of green venture capital for sustainable development: A systematic review and future research agenda

Dhayal

Giri

Esposito

et al. 2023

Journal of Cleaner Production

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Gigaton gear – policy insights for scaling up the global deployment of direct air carbon capture and sequestration technology (DACCS)

Wesche,

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2024

Climate Policy

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Attracting venture capital to help early-stage, radical cleantech ventures bridge the valley of death: 27 levers to influence the investor perceived risk-return ratio

Cited by 4 publications

References 81 publications

Profit first, environmental impact second? Investigating hybrid institutional logics in venture capital investment approaches

Profit first, environmental impact second? Investigating hybrid institutional logics in venture capital investment approaches

Mapping the significance of green venture capital for sustainable development: A systematic review and future research agenda

Gigaton gear – policy insights for scaling up the global deployment of direct air carbon capture and sequestration technology (DACCS)

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