Venture capital investor Braemar Energy Ventures has acquired a stake in Renew Financial, a rapidly growing company that specialises in affordable financing for renewable energy and energy efficiency projects. Specific terms of the deal have not been not disclosed.
Renew Financial announced in early February of this year that it had raised USD70 million to expand its clean energy and energy efficiency finance products across the US.
Apollo Capital Management, Angeleno Group, Claremont Creek Ventures, LL Funds, Inc., NGEN Partners and Prelude Ventures all took part in the new growth capital round. Renew Financial secured additional capital from Braemar immediately following its new growth capital round.
