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Generate Capital raises another $880M

Illustration: Aïda Amer/Axios

Generate Capital, the SF-based infrastructure investor and operator, raised a fresh $880.6 million, per a filing with the SEC.

Why it matters: Generate is among the most well-known investors in climate tech and low-carbon infrastructure.

What's happening: Generate raised $880.6 million, according to the Jan. 6 filing. The sale opened Dec. 23. ImpactAlpha first reported on the raise.

Flashback: Generate previously raised $2 billion in 2021, chiefly from institutional investors.

  • It was co-founded by Jigar Shah, who now leads the Department of Energy's Loan Programs Office.

Context: The firm often holds onto the infrastructure assets it backs, taking the role of operator in addition to investor.

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