Funding round
38 Degrees North Growth
Reported as "Growth Equity"
38 Degrees North, which works in sustainable infrastructure asset development and operation in Sausalito, raised $230M in a Growth round announced on 17 Jul 2025. 2 firms took part. It is 38 Degrees North's first venture round on record.
$230M
Amount raised
Not disclosed
Post-money valuation
2
Investors
no lead named
Valuation
What this round says about the price
38 Degrees North did not disclose a valuation in this round. It is 38 Degrees North's first venture round on record, 10 years after it was founded in 2015. It is 47% of the $490M 38 Degrees North has raised in the venture rounds on record. 38 Degrees North raised again 14 months later: a Growth round of $260M in Sep 2026.
38 Degrees North's funding rounds
38 Degrees North has 2 venture rounds on record. This one is highlighted.
- Growth this round 17 Jul 2025 $230M
- Growth 16 Sep 2026, led by Apterra $260M
Investors
Who put money in
2 firms took part; no lead investor was named.
Investors
- Climate Adaptive Infrastructure new investor
- backs 4 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to acquisitions.
- Acquisitions
Comparable rounds
How it compares
27 Growth rounds in Solar Energy Company within a year either side disclosed an amount; the median was $93M, and this round was 2.5 times the median. The closest in time, other companies' Growth rounds in Solar Energy Company:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Solar Energy Company | 17 Jul 2025 | $93M | not disclosed | Copenhagen Infrastructure Partners |
| Solar Energy Company | 1 Jul 2025 | $29M | not disclosed | Bpifrance and IDIA Capital Investissement |
| Solar Energy Company | 8 Sep 2025 | $34M | not disclosed | GeeCee Holdings |
| Solar Energy Company | 15 Sep 2025 | undisclosed | not disclosed | not named |
| Enpal Solar Energy Company | 7 Apr 2025 | $120M | not disclosed | TPG |
| Solar Energy Company | 16 Apr 2025 | $85M | not disclosed | not named |
| Solar Energy Company | 23 Oct 2025 | $72M | not disclosed | not named |
| Solar Energy Company | 16 Oct 2025 | $60M | not disclosed | Turtle Hill Capital |
Sources
Where this comes from
Reported by 3 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did 38 Degrees North raise in its Growth round?
38 Degrees North raised $230M in its Growth round, announced in Jul 2025.
Which investors took part in 38 Degrees North's Growth round?
Climate Adaptive Infrastructure and Kimmeridge.
What was 38 Degrees North's valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Solar Energy Company?
27 Growth rounds in Solar Energy Company within a year either side disclosed an amount; the median was $93M, and this round was 2.5 times the median.
Did 38 Degrees North raise again after this round?
Yes: a Growth round in Sep 2026 of $260M.