Goldman Sachs
Canvas Category Consultancy : Company : Private Equity
The Goldman Sachs Group, Inc. is a leading global financial institution that delivers a broad range of financial services across investment banking, securities, investment management and consumer banking to a large and diversified client base that includes corporations, financial institutions, governments and individuals.
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Goldman Sachs takes $900mn hit on Northvolt investment
Funds managed by Goldman Sachs will write off almost $900mn after Swedish battery maker Northvolt filed for Chapter 11 bankruptcy this week.
Goldman’s private equity funds have at least $896mn in exposure to Northvolt, making the US bank its second-largest shareholder. They will write that down to zero at the end of the year, according to letters to investors seen by the Financial Times.
Volkswagen is Northvolt’s largest shareholder with a 21 per cent stake and is likely to be nursing similar losses. It is listed as Northvolt’s second-largest creditor in the Chapter 11 filing due to a $355mn convertible note.
Simbe Raises $50 Million in Series C Funding Led by Growth Equity at Goldman Sachs Alternatives
Simbe, a leading provider of Store Intelligence™ solutions, announced the closing of a $50 million Series C equity financing round led by Growth Equity at Goldman Sachs Alternatives (“Goldman Sachs”), with participation from Eclipse and Valo Ventures and other existing investors. Since raising its Series B in July 2023, Simbe has achieved significant momentum and milestones such as introducing multiple capabilities and securing numerous new and expanded partnerships across various retail sectors. The new capital, which brings the total amount raised by Simbe to over $100 million, will be used to meet surging demand for retail technology across retail verticals, expand into new product areas, and continue scaling its best-in-class solutions to retailers and brands around the world.
BrightNight Closes $440 Million Strategic Investment from Goldman Sachs Alternatives, Upsizes Corporate Credit Facility to $400 Million
BrightNight, the next-generation renewable power producer built to deliver clean and dispatchable power solutions, announced the successful closing of a $440 million strategic equity investment from Goldman Sachs Alternatives. This investment, together with existing capital commitments from leading institutional investors, is expected to fully fund BrightNight’s five-year business plan and advance the execution of its 31-gigawatt renewable power project portfolio, which includes solar, energy storage, and hybrid solutions.
Additionally, BrightNight announced the upsize of its corporate credit facility initially announced earlier this year from $375 million to $400 million. This credit facility will provide BrightNight with the necessary balance sheet support to execute on its U.S. project portfolio, delivering critical clean energy infrastructure to serve BrightNight’s customers across the U.S. The credit facility is structured as a Green Loan, in alignment with Green Loan principles.
The global market for humanoid robots could reach $38 billion by 2035
The total addressable market for humanoid robots is projected to reach $38 billion by 2035, up more than sixfold from a previous projection of $6 billion, Goldman Sachs Research analyst Jacqueline Du, head of China Industrial Technology research, writes in the report. Their estimate for robot shipments increased fourfold, to 1.4 million units, over the same time frame, with a much faster path to profitability on a 40% reduction in the cost of materials.
There are signs that robot components, from high-precision gears to actuators, could also cost less than previously expected, leading to faster commercialization. The manufacturing cost of humanoid robots has dropped — from a range that ran between an estimated $50,000 (for lower-end models) and $250,000 (for state-of-the art versions) per unit last year, to a range of between $30,000 and $150,000 now. Where our analysts had expected a decline of 15-20% per annum, the cost declined 40%.
🔋♻️ Redwood Materials raises over $1 billion in Series D investment round
Redwood is pleased to announce the completion of our most recent equity funding round, in which we raised more than $1 billion in Series D shares. The round which was co-led by Goldman Sachs Asset Management, Capricorn’s Technology Impact Fund, and funds and accounts advised by T. Rowe Price Associates, Inc. We will use our Series D funding to continue building our capacity, expanding the domestic battery supply chain and allowing our customers to purchase battery materials made in the US for the first time.
Limble Raises $58M Series B Funding and a $450M Valuation, Accelerating Growth
Limble has raised $58 million in Series B funding, bringing our total valuation to $450M to accelerate our growth and realize that vision. This funding, led by the Growth Equity business within Goldman Sachs, will help us build more industry-disrupting solutions and insights that will lay the groundwork for the future of EAM and CMMS platforms.
Impact Nano, chip materials startup, wins funding from Intel, Goldman Sachs
Impact Nano, a Massachusetts-based startup that makes specialty chemicals for the semiconductor industry and others, said on Thursday it raised $32 million in funding from investors including Intel Capital and Goldman Sachs Asset Management.
Stephens said Impact Nano is inventing new ways to produce chemicals that chip makers use. Among the company’s focus areas, he said, are increasing the purity of the chemicals, finding raw materials that are more abundant and comply with ethical guidelines, and making the process more environmentally friendly.
Locus Robotics Announces $117 million in Series F Funding, Bringing its Valuation Close to $2 Billion
Locus Robotics, a leader in autonomous mobile robots (AMR) for fulfillment and distribution warehouses, today announced more than $117 million in Series F funding, led by Goldman Sachs Asset Management and G2 Venture Partners. As part of the financing, Mark Midle, Managing Director, Goldman Sachs, and Zach Barasz, Partner, G2 Venture Partners, will join the Locus Board of Directors, bringing their unique industry perspectives and insights to further guide Locus’s next stage of growth and global expansion.
The Locus warehouse execution platform disrupts large-scale warehouse fulfillment and distribution with an industry-leading, intelligent, and dynamically scalable robotics-driven solution. Locus delivers 2X-3X productivity by seamlessly coordinating both human labor and AMRs to dramatically improve order fulfillment efficiency and workplace ergonomics, while lowering operational costs.
SkySpecs Accelerates Growth with $80 Million Strategic Investment led by Goldman Sachs Asset Management
SkySpecs, a Michigan-based provider of renewable energy O&M solutions, announced today that it has closed an $80 million strategic capital raise led by the Sustainable Investing business within Goldman Sachs Asset Management (Goldman Sachs) with additional participation from a subsidiary of NextEra Energy Resources and other existing SkySpecs investors including, Statkraft Ventures, Equinor Ventures, Evergy Ventures, UL Ventures and Huron River Ventures. SkySpecs provides service and software solutions to make renewable energy the most efficient power source in the world. The new funding will help SkySpecs accelerate the expansion of their software offerings by leveraging their existing foundation of automated high quality data collection and analytics, as well as grow its geographic footprint in order to advance its mission to optimize renewable performance and help displace fossil fuel generation.or manufacturing that Tignis is undertaking is of particular importance to the US market, to re-establish competitiveness and leadership in this industry.”