Total power industry venture financing deals worth $409m were announced in North America in September 2022, led by $140m venture financing of Mainspring Energy, according to GlobalData’s deals database.
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The value marked a decrease of 25.02% over the previous month of $545.47m and a drop of 50.4% when compared with the last 12-month average of $824.24m.
North America held a 30.75% share of the global power industry venture financing deal value that totalled $1.33bn in September 2022. With a 30.75% share and deals worth $409.01m, the US was the top country in North America’s venture financing deal value across power industry.
In terms of venture financing deal activity, North America recorded 24 deals during September 2022, marking a decrease of 11.11% over the previous month and a drop of 20.00% over the 12-month average. The US recorded 24 deals during the month.
North America power industry venture financing deals in September 2022: Top deals
The top five power industry venture financing deals accounted for 88.3% of the overall value during September 2022.
The combined value of the top five power venture financing deals stood at $361m, against the overall value of $409m recorded for the month.
The top five power industry venture financing deals of September 2022 tracked by GlobalData were:
1) Bill Gates, Canada Pension Plan Investment Board, Fine Structure Venture, Hanwha Power Systems, Khosla Ventures, Lightrock, Princeville Capital and Shell Ventures’s $140m venture financing deal with Mainspring Energy
2) The $100m venture financing of Moxion Power by Energy Impact Partners, Enterprise Holdings, Marubeni Ventures, Microsoft Climate Innovation Fund, Rocketship VC, Suffolk Technologies, Sunbelt Rentals, Tamarack Global and The Climate pledge Fund
3) Lombard Odier Group’s $70m venture financing deal with PearlX Infrastructure
4) The $40m venture financing of Ojjo by Ajax Strategies and NGP ETP
5) Citi Impact Fund, Forefront Venture Partners, Gaingels Management, Groundswell Ventures, Impact Engine, LACI Impact fund and Tribeca Venture Partners’s $11m venture financing deal with Circuit Transit