Funding round
Intersect Growth
Reported as "Growth Equity"
Intersect, which works in energy infrastructure project delivery in United States, raised $750M in a Growth round announced on 28 Jun 2022, led by TPG. 3 firms took part, 2 of them already investors. It is Intersect's second venture round on record; the one before was a Growth in Jan 2021.
$750M
Amount raised
Not disclosed
Post-money valuation
3
Investors
1 lead
Valuation
What this round says about the price
Intersect did not disclose a valuation in this round. It came 17 months after Intersect's Growth. It is 86% of the $877M Intersect has raised in the venture rounds on record. No later venture round is on record for Intersect.
Intersect's funding rounds
Intersect has 2 venture rounds on record and 2 other deals. This one is highlighted.
- Debt not a venture round 26 Jan 2021 $482M
- Growth 26 Jan 2021 $127M
- Growth this round 28 Jun 2022, led by TPG $750M
- Other not a venture round 23 Sep 2025, led by Climate Adaptive Infrastructure $41M
Investors
Who put money in
TPG led the round with 2 other firms. Climate Adaptive Infrastructure and Trilantic North America had backed Intersect before.
Lead investor
- TPG backs 114 venture-backed companies new investor
Also in the round
- backs 2 venture-backed companies existing investor
- backs 4 venture-backed companies existing investor
Joined the board: Ed Beckley (TPG Rise Climate), Steven Mandel (TPG Rise Climate), Maryanne Hancock (TPG Rise Climate), Bill Green (Climate Adaptive Infrastructure, LLC) and Glenn Jacobson (Greenbelt Capital Partners).
Use of proceeds
What the money is for
According to the announcement, the money goes to scaling operations.
- Scaling operations
Comparable rounds
How it compares
18 Growth rounds in Renewable energy companies within a year either side disclosed an amount; the median was $225M, and this round was 3.3 times the median. The closest in time, other companies' Growth rounds in Renewable energy companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| new cleo Renewable energy companies | 20 Jun 2022 | $315M | not disclosed | not named |
| Renewable energy companies | 9 Aug 2022 | $100M | not disclosed | not named |
| Renewable energy companies | 29 Mar 2022 | $121M | not disclosed | not named |
| Renewable energy companies | 27 Sep 2022 | $28M | not disclosed | not named |
| Shizen Energy Renewable energy companies | 24 Oct 2022 | $470M | not disclosed | La Caisse |
| Renewable energy companies | 24 Oct 2022 | $200M | not disclosed | Energy Spectrum |
| Invenergy Renewable energy companies | 7 Jan 2022 | $3.00B | not disclosed | Blackstone |
| TerraPower Renewable energy companies | 3 Nov 2022 | $830M | not disclosed | SK Inc. |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did Intersect raise in its Growth round?
Intersect raised $750M in its Growth round, announced in Jun 2022.
Who led Intersect's Growth round?
TPG led it, with Climate Adaptive Infrastructure and Trilantic North America.
What was Intersect's valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Renewable energy companies?
18 Growth rounds in Renewable energy companies within a year either side disclosed an amount; the median was $225M, and this round was 3.3 times the median.