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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

(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."

(FILES)Former US Vice President Al Gore
(FILES)Former US Vice President Al Gore   (Getty Images)
Former Vice President Al Gore smiles after speaking at a news conference in Palo Alto, Calif., in this Oct. 12, 2007 file photo. Gore on Monday, Nov. 12, 2007 announced that he's joining Silicon Valley's most prestigious venture capital firm to guide investments to combat global warming. (AP Photo/Jeff Chiu,...
Former Vice President Al Gore smiles after speaking at a news conference in Palo Alto, Calif., in this Oct. 12, 2007 file photo. Gore on Monday, Nov. 12, 2007 announced that he's joining Silicon Valley's...   (Associated Press)
Former U.S. Vice President and 2007 Nobel Peace Prize winner Al Gore waves to the crowd while arriving for the ceremony of the year's prestigious Prince of Asturias prizes in Oviedo, northern Spain, Friday Oct. 26 2007. Gore has won the 2007 Prince of Asturias Award for International Cooperation....
Former U.S. Vice President and 2007 Nobel Peace Prize winner Al Gore waves to the crowd while arriving for the ceremony of the year's prestigious Prince of Asturias prizes in Oviedo, northern Spain, Friday...   (Associated Press)
Former U.S. Vice President and 2007 Nobel Peace Prize winner Al Gore arrives for the ceremony of the year's prestigious Prince of Asturias prizes in Oviedo, northern Spain, Friday Oct. 26 2007. Gore has won the 2007 Prince of Asturias Award for International Cooperation. (AP Photo/Bernat Armangue)
Former U.S. Vice President and 2007 Nobel Peace Prize winner Al Gore arrives for the ceremony of the year's prestigious Prince of Asturias prizes in Oviedo, northern Spain, Friday Oct. 26 2007. Gore has...   (Associated Press)
Former US Vice President Al Gore and director of the Oscar winning...
Former US Vice President Al Gore and director of the Oscar winning...   (Getty Images (by Event))
AUSTRIA-US-NOBEL-ENVIRONMENT-CLIMATE-GORE
AUSTRIA-US-NOBEL-ENVIRONMENT-CLIMATE-GORE   (Getty Images)
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