Funding round
Silicon Ranch Growth
Reported as "Growth Equity"
Silicon Ranch, which works in renewable energy project development in Nashville, raised $600M in a Growth round announced on 5 Jan 2023, led by Manulife Investment Management, TD Asset Management Inc. and Mountain Group Partners. 3 firms took part, 3 of them already investors. It is Silicon Ranch's second venture round on record; the one before was a Growth in Dec 2020.
$600M
Amount raised
Not disclosed
Post-money valuation
3
Investors
3 leads
Valuation
What this round says about the price
Silicon Ranch did not disclose a valuation in this round. It came 25 months after Silicon Ranch's Growth. It is 73% of the $825M Silicon Ranch has raised in the venture rounds on record. No later venture round is on record for Silicon Ranch.
Silicon Ranch's funding rounds
Silicon Ranch has 2 venture rounds on record and 1 other deal. This one is highlighted.
- Acquisition not a venture round 15 Jan 2018, led by Shell $217M
- Growth 15 Dec 2020 $225M
- Growth this round 5 Jan 2023, led by Manulife Investment Management, TD Asset Management Inc. and Mountain Group Partners $600M
Investors
Who put money in
Manulife Investment Management, TD Asset Management Inc. and Mountain Group Partners led the round. Manulife Investment Management, TD Asset Management Inc. and Mountain Group Partners had backed Silicon Ranch before.
Lead investors
- Manulife Investment Management existing investor
- TD Asset Management Inc. existing investor
- backs 12 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, scaling operations and working capital.
- Hiring
- Scaling operations
- Working capital
Comparable rounds
How it compares
27 Growth rounds in Solar Energy Company within a year either side disclosed an amount; the median was $82M, and this round was 7.3 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 | 25 Jan 2023 | $15M | not disclosed | not named |
| Solar Energy Company | 13 Dec 2022 | $100M | not disclosed | Manulife Investment Management |
| Solar Energy Company | 6 Mar 2023 | $150M | not disclosed | TPG |
| Sunly Solar Energy Company | 1 Oct 2022 | $195M | not disclosed | not named |
| Solar Energy Company | 19 Apr 2023 | $143M | not disclosed | Eurazeo |
| Solar Energy Company | 21 Apr 2023 | $18M | not disclosed | not named |
| Solar Energy Company | 26 Sep 2022 | $73M | not disclosed | not named |
| Solar Energy Company | 12 Jun 2023 | $250M | not disclosed | not named |
Sources
Where this comes from
Reported by 7 sources.
Questions
Frequently asked
How much did Silicon Ranch raise in its Growth round?
Silicon Ranch raised $600M in its Growth round, announced in Jan 2023.
Who led Silicon Ranch's Growth round?
Manulife Investment Management, TD Asset Management Inc. and Mountain Group Partners led it.
What was Silicon Ranch'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 $82M, and this round was 7.3 times the median.