Funding round
NewLink Growth
Reported as "Growth Equity"
NewLink, which works in energy retail management services in Pingfang, raised $200M in a Growth round announced on 22 Mar 2021, led by Bain Capital Private Equity and Bain Capital. 3 firms took part, 1 of them already investors. It is NewLink's first venture round on record.
$200M
Amount raised
Not disclosed
Post-money valuation
3
Investors
2 leads
Valuation
What this round says about the price
NewLink did not disclose a valuation in this round. It is NewLink's first venture round on record, 5 years after it was founded in 2016. It is 39% of the $508M NewLink has raised in the venture rounds on record. NewLink raised again 5 months later: a Series E round of $308M in Aug 2021.
NewLink's funding rounds
NewLink has 2 venture rounds on record. This one is highlighted.
- Growth this round 22 Mar 2021, led by Bain Capital Private Equity and Bain Capital $200M
- Series E 19 Aug 2021 $308M
Investors
Who put money in
Bain Capital Private Equity and Bain Capital led the round with 1 other firm. Joy Capital had backed NewLink before.
Lead investors
- backs 8 venture-backed companies new investor
- backs 70 venture-backed companies
Also in the round
- Joy Capital existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
14 Growth rounds in Renewable energy companies within a year either side disclosed an amount; the median was $100M, and this round was 2.0 times the median. The closest in time, other companies' Growth rounds in Renewable energy companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Renewable energy companies | 31 Mar 2021 | $25M | not disclosed | not named |
| Highview Power Renewable energy companies | 8 Feb 2021 | $70M | not disclosed | not named |
| Renewable energy companies | 16 Feb 2021 | $40M | not disclosed | not named |
| Intersect Renewable energy companies | 26 Jan 2021 | $127M | not disclosed | not named |
| Renewable energy companies | 30 May 2021 | $73M | not disclosed | Pioneer Point Partners |
| Renewable energy companies | 4 Jan 2021 | $25M | not disclosed | not named |
| Renewable energy companies | 13 Sep 2021 | $110M | not disclosed | not named |
| Renewable energy companies | 28 Sep 2021 | $100M | not disclosed | Vision Ridge Partners |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did NewLink raise in its Growth round?
NewLink raised $200M in its Growth round, announced in Mar 2021.
Who led NewLink's Growth round?
Bain Capital Private Equity and Bain Capital led it, with Joy Capital.
What was NewLink's valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Renewable energy companies?
14 Growth rounds in Renewable energy companies within a year either side disclosed an amount; the median was $100M, and this round was 2.0 times the median.
Did NewLink raise again after this round?
Yes: a Series E round in Aug 2021 of $308M.