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 $260M in a Growth round announced on 16 Sep 2026, led by Apterra. 7 firms took part. It is 38 Degrees North's second venture round on record; the one before was a Growth in Jul 2025.
$260M
Amount raised
of which $260M debt
Not disclosed
Post-money valuation
7
Investors
1 lead
Valuation
What this round says about the price
38 Degrees North did not disclose a valuation in this round. It came 14 months after 38 Degrees North's Growth. It is 53% of the $490M 38 Degrees North has raised in the venture rounds on record. No later venture round is on record for 38 Degrees North.
38 Degrees North's funding rounds
38 Degrees North has 2 venture rounds on record. This one is highlighted.
- Growth 17 Jul 2025 $230M
- Growth this round 16 Sep 2026, led by Apterra $260M
Investors
Who put money in
Apterra led the round with 6 other firms.
Lead investor
- new investor
Also in the round
- backs 6 venture-backed companies new investor
- National Bank of Canada new investor
- BankUnited new investor
- Farmer Mac new investor
- Amalgamated Bank new investor
- Siemens Financial Services new investor
Comparable rounds
How it compares
19 Growth rounds in Solar Energy Company within a year either side disclosed an amount; the median was $100M, and this round was 2.6 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 | 24 Sep 2026 | $33M | not disclosed | Augment Infrastructure |
| Doral Renewables Solar Energy Company | 10 Aug 2026 | $400M | not disclosed | Doral Group Renewable Energy Resources Ltd. |
| Recurrent Energy Solar Energy Company | 13 Aug 2026 | $211M | not disclosed | not named |
| Solar Energy Company | 31 Aug 2026 | $89M | $335M | not named |
| Solar Energy Company | 20 Jul 2026 | $126M | not disclosed | Bay Capital Investment Ltd |
| Solar Energy Company | 12 Jun 2026 | $51M | not disclosed | not named |
| Enviromena Solar Energy Company | 27 Apr 2026 | $1.12B | not disclosed | not named |
| Solar Energy Company | 20 Apr 2026 | $118M | not disclosed | not named |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did 38 Degrees North raise in its Growth round?
38 Degrees North raised $260M in its Growth round, announced in Sep 2026.
Who led 38 Degrees North's Growth round?
Apterra led it, with Stifel, National Bank of Canada, BankUnited, Farmer Mac and Amalgamated Bank and 1 more.
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?
19 Growth rounds in Solar Energy Company within a year either side disclosed an amount; the median was $100M, and this round was 2.6 times the median.