Gore Joins VC to Invest in Green

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