CleanTechnia
Renew Financial Raises $70 Million In Growth Capital
February 17th, 2016 by Joshua S Hill
One of the United States’ leading clean energy finance companies, Renew Financial, has announced that it raised $70 million in growth capital.
Renew Financial, based out of California, announced on its website this week that it had successfully raised $70 million, thanks to investors such as Angeleno Group, Apollo Capital Management, Claremont Creek Ventures, LL Funds, Inc., NGEN Partners, and Prelude Ventures.
FORTUNE
VENTURE CAPITAL DEALS
• Renew Financial, an Oakland, Calif.-based clean energy finance company, has raised $70 million in growth equity funding. Backers include Angeleno Group, Apollo Capital Management, Claremont Creek Ventures, LL Funds, Inc., NGEN Partners, and Prelude Ventures. renewfinancial.com
Reuters and PE Hub
Renew Financial scores $70 mln in growth capital
By Stephanie Rogan
Renew Financial, a clean energy finance company based in Oakland, California, raised $70 million in growth capital. Investors in the funding round include Angeleno Group, Apollo Capital Management, Claremont Creek Ventures, LL Funds Inc, NGEN Partners, Prelude Ventures and others.
SILICON VALLEY BUSINESS JOURNAL
Renew Financial raises $70M to roll out finance programs nationwide
February 11, 2016
Clean energy finance startup Renew Financial raised $70 million in funding on Thursday to move forward with a nationwide rollout.
Angeleno Group, Apollo Capital Management, Claremont Creek Ventures, LL Funds, NGEN Partners and Prelude Ventures participated in the round. The company has raised $102.2 million to date.
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CEO Cisco DeVries, inventor of PACE (Property Assessed Clean Energy) financing, founded the Oakland-based company in 2008. PACE enables property owners to finance the entire cost of energy and water efficiency and renewable energy upgrades to their homes and businesses, and repay those costs on their property tax bill. The program was endorsed by President Obama and named by Scientific American as “one of the top 20 ideas that can change the world.”
“Renew Financial is changing the way Americans finance clean energy and energy efficiency upgrades for homes and businesses alike,” DeVries said in a press release.
The company has originated over $150 million in PACE-financed home improvement projects from its CaliforniaFIRST program and recently entered into a new partnership with SolarCity to provide medium-sized businesses financing for new solar systems. Tesla CEO Elon Musk is also chairman at SolarCity.
The company will use the funds to accelerate the nationwide rollout of PACE programs and develop its other financing products.
