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Alternative Assets  + Private Equity  | 
Climate Technology Startup Arcadia Secures $125M, Led by Magnetar Capital

Climate Technology Startup Arcadia Secures $125M, Led by Magnetar Capital

Arcadia, a Washington, DC-based climate technology company, has raised $125mn in funding, led by Illinois-based alternative assets manager Magnetar Capital. 

The company has now raised $350 million, including the latest financing round. 

Additional investors include Keyframe Capital and Macquarie Asset Management’s Green Investment Group. Keyframe also invested in May in the $200 million Series E round led by J.P. Morgan’s sustainable growth equity team, part of which it used to acquire rival Urjanet. That round set Arcadia’s valuation at $1.5bn. 

Led by Kiran Bhatraju, founder and CEO, Arcadia is perhaps best known as the nation’s largest manager of community solar subscriptions, but its Arc data platform is also used by 300 other companies to deliver clean-energy services tailored to the needs of each customer.

The latest funding shores up Arcadia’s finances to take advantage of several industry tailwinds heading into 2023. The Inflation Reduction Act is expected to turbocharge just about any branch of the clean-energy industry, from solar to home electrification to electric vehicles.

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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