SunFunder Raises $2.5M Series A Round Led by Khosla Impact
Funding will Catalyze Goal of Deploying $1B in Solar Loans
We are thrilled to announce that Better Ventures portfolio company SunFunder recently closed a Series A round with Khosla Impact and a group of existing angel investors. This is a big milestone for SunFunder and marks the next step on their journey to be the leader in emerging market solar finance. The investment will enable the company to grow in their existing markets, expand to new regions, and advance their goal of deploying $1B in solar loans by 2020.
This news also validates the promise we saw in SunFunder's founder and CEO Ryan Levinson, his team, and their unique approach when we invested in the company in March 2013. We believe off-grid solar represents an exciting "leapfrog" technology that is poised to be a huge market and provide access to clean and affordable energy for millions of people who critically need it. We chose SunFunder because of their ability to source and invest in the best off-grid solar opportunities, which is demonstrated by their 100% repayment rate to date.
If you would like more information on SunFunder or their Solar Empowerment Fund, please feel free to reach out and we'll put you in touch with Ryan. We would also welcome the opportunity to discuss Better Ventures Fund II with you. Our first close is set for September 30th, and we'll be making new investments soon. Please stayed tuned for updates, as we will have more exciting news from our portfolio to share with you soon. If you would like timely updates on Better Ventures, be sure to follow us on Twitter and AngelList. Thank you!
Rick & Wes