2010-04-25-投中研究院-Annual_Statistics_Analysis_o_48页_1mb

报告摘要

In 2009, the VC market for energy saw 45 deals, unchanged from 2008, but the total investment dropped by 34% to USD 288 million, with an average deal size of USD 6.393 million.
Most transactions were small (< USD 5 million), representing 60% of deals.
Alternative Energy and Pro-Environment were the most favored subsectors, attracting the highest investment amounts.
The Series A round dominated, accounting for 73.3% of deals and 70% of the total investment.
Investments primarily targeted development and profitability-stage companies.
Beijing (8 deals) and Jiangsu (6 deals) were the top regions.
Chinese investors led in deal count (27 deals) and amount (USD 165 million), outperforming foreign peers.

There were 14 PE deals in 2009, a decline of 57.6% from the previous year, but the total investment increased by 4% to USD 1.594 billion, with an average deal size of USD 114 million.
Alternative Energy and Pro-Environment were the primary subsectors, though Pro-Environment saw higher investment despite fewer deals.
Growth Capital handled the most deals (71.4%), while PIPE absorbed the greater share of investment (77.4%).
Profitability-stage companies were the main focus.
Beijing and Shanghai emerged as key regions.
Foreign institutions (10 deals, USD 1.445 billion) dominated the market.

Energy sector achieved 17 IPOs in 2009, up 21.4% in number and investment, totaling USD 8.092 billion.
The Hong Kong Stock Exchange was the preferred venue, hosting 9 IPOs.
One VC/PE-backed IPO occurred each quarter, contributing to higher exit opportunities.

There were 67 M&A transactions in 2009, down 66.1%, but the total disclosed value rose to USD 25.993 billion.
Cross-border deals overwhelmingly dominated both in count and value.
All three VC/PE-backed acquisitions were in Alternative Energy, involving significant capital exits like in the solar power sector.

The Chaohui Energy Industry Fund was established, marking the largest energy fund with a USD 10 billion target.
Longyuan Power Group became the first Chinese new energy firm to go public overseas on the HKEx.
Government policies emphasized energy restructuring, renewable development, and emission reductions, supporting pro-environment and alternative energy investments.
ChinaVenture predicted a surge in investment and M&A activities in 2010, driven by policy favors for sectors like new energy and environmental technologies.

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