San Diego’s Sapphire Energy one of the largest VC investments of Q1
Earlier this year Sapphire Energy, Inc. added $139,000,000 in venture capital to its coffers as it ramps up development of algae-based green crude oil. It’s one of the largest venture capital investments nation-wide in the first quarter. Investors include ARCH Venture Partners, Monsanto Corporation, Venrock Associates, and an undisclosed firm.
Since it was founded in 2007 with $100 million in initial investment, it has raised another $104.5 million from the U.S. Department of Energy and the U.S. Department of Agriculture.