Solyndra could be the biggest VC loss in history

When solar maker Solyndra files for bankruptcy it could lose a big chunk of its VC backers $1.1 billion (we’ll see how much any assets go for). That could make it the largest loss for venture capitalists in history.

With Close to $800M, Solyndra Becomes One of the Most Capitalized Startups Ever

SolyndraEvent3At the ground-breaking of solar startup Solyndra’s second factory this morning, the company, which makes tube-shaped thin-film solar panels, detailed just how much more private equity it’s raised in order to secure the first Department of Energy loan guarantee:  $198 million. On top of the more than $600 million the company raised previously, this brings the company’s total amount of private equity raised to somewhere around $800 million.
SolyndraEvent1
Holy smokes – that makes the company one of the most capitalized startups (in terms of private equity) that I’ve heard of. According to Dow Jones VentureSource there’s only one company that raised more than Solyndra has: fiber optic network company Western Integrated Networks (WINfirst), which raised $889 million in the broadband build-out era of the late 90’s. Hopefully Solyndra won’t go the way of that wayard telecom firm, which fell into bankruptcy and sold its assets for $12 million.
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