Total power industry venture financing deals worth $1.54bn were announced in the in Q1 2021, with $590m venture financing of Sila Nanotechnologies being the sector’s biggest investment, according to GlobalData’s deals database.
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The value marked an increase of 257.2% over the previous quarter and a rise of 232.5% when compared with the last four-quarter average of $463.14m.
The US held a 53.29% share of the global power industry venture financing deal value that totalled $2.89bn in Q1 2021.
In terms of deal activity, the US recorded 65 deals during Q1 2021, marking an increase of 3.17% over the previous quarter and a a rise of 36.84% over the last four-quarter average.
US power industry venture financing deals in Q1 2021: Top deals
The top five power industry venture financing deals accounted for 68.7% of the overall value during Q1 2021.
The combined value of the top five venture financing deals stood at $1.06bn, against the overall value of $1.54bn recorded for the quarter.
The top five power industry deals of Q1 2021 tracked by GlobalData were:
1) 8VC , Bessemer Venture Partners, Canada Pension Plan Investment Board, Coatue Management, Sutter Hill Ventures and T Rowe Price Associates’ $590m venture financing of Sila Nanotechnologies
2) The $253m venture financing of Highland Electric Transportation by Fontinalis Partners and Vision Ridge Partners
3) Technology Venture Partners’ $100m venture financing of Ampion
4) The $63m venture financing of BlocPower by AccelR8, American Family Insurance Institute for Corporate and Social Impact, CityRock Venture Partners, Elemental Excelerator, Kapor Capital, Salesforce Ventures, Schmidt Family Foundation and The Goldman Sachs Urban Investment Group
5) Alfa Laval, Breakthrough Energy Ventures and Proman’s venture financing of Malta for $50m.
Visit our ‘Power Deals Dashboard’ for the latest trends in M&A, PE, and VC activity, top deals and advisory league tables in the power industry.