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Follow the smart money

John Doerr is a very smart guy. And if you’d had the good sense and good luck to invest in his venture-capital firm, Kleiner Perkins Caulfield & Byers, you’d be feeling pretty smart too. Doerr has made a fortune by moving early into companies such as Sun Microsystems, Netscape and Google.

So where is Doerr putting his money now? Well according to the Associated Press, Doerr is investing in “green” technologies such as wind power. Part of Doerr’s decision to invest green comes from his belief that urban areas in developing countries will continue to grow an extraordinary pace. “This is the mother of all markets,” Doerr said. “As those Asian economies rise, people will move from rural to urban settings. All those people will want the same things that you and I want: clean water, power and transportation.”

Of course it’s only fair to note that not every wealthy guy from the venture-capital world is feeling positive about green technology. Massachusetts Gov. Mitt Romney, founder of Bain Capital, is an outspoken critic of the Cape Wind project.

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