Several Bay Area major venture capital firms announce that they will shift their portfolios toward funding physical green infrastructure, including solar and wind power generation, utility lines, hydroelectric dams, environmental remediation projects for dams, and passenger and freight rail.
One founder of a firm in the public transit industry, speaking on condition of anonymity because the deal is still in process, points out that other VC investments have not been successful in the last 10-15 years… In contrast, the founder explains, there are great opportunities for new passenger rail lines and renewable and at places nuclear power.
Another founder points out the example of Brightline West and says that with upcoming reforms in permitting, pushed by many of the same VCs, it will be profitable to complete new domestic and international intercity rail lines between cities; a $15 billion investment in connecting Chicago, Detroit, and Cleveland is underway.
On Sand Hill Roads, VC attitudes to the new investment are jubilant. One VC admits to never having heard much about public transit, but, after a three-day factfinding mission can tell you everything you could possibly want to know about the Singapore MRT. Other VCs say that Peter Thiel and Mark Zuckerberg are both especially interested in funding public transit initiatives…
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