T Rowe Price
Canvas Category Consultancy : Company : Private Equity
T. Rowe Price is a premiere global asset management organization, actively investing in opportunities to help people thrive in an evolving world. Headquartered in Baltimore, Maryland, we provide a broad range of investment solutions across equity, fixed income, and multi-asset capabilities for clients around the world—from individuals to advisors to institutions to retirement plan sponsors. Our active, independent investing approach has guided how we do business for more than 85 years. Our professionals have diverse perspectives, but are united behind a commitment to rigorous research. They collaborate to identify market risks and opportunities that can give clients sharper insights and an investment edge. We maintain a long-term view, aiming to deliver consistently strong performance in up and down markets. Our clients—and their success—are our singular focus. That’s why we build deep, meaningful partnerships, matching client goals with our expertise. By understanding clients’ needs and delivering timely, actionable insights and solutions, we can help them navigate change and achieve better outcomes.
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Sila Raises $375M to Deliver Titan Silicon™ for Auto Series Production
Sila, a next-generation battery materials company, announces it has raised $375 million in a close of its Series G round led by existing investors Sutter Hill Ventures and funds and accounts advised by T. Rowe Price Associates, Inc., with participation by new outside investors as well as existing investors Bessemer Venture Partners, Coatue, Perry Creek Capital, and others.
The funding will secure the completion of the company’s Moses Lake plant in Q1, 2025, enabling the delivery of its Titan Silicon anode material to auto customers in Q4, 2025. Mercedes-Benz and Panasonic, as well as three additional customer contracts yet to be publicly disclosed, have been secured and will be fulfilled through Sila’s Moses Lake manufacturing facility.
Titan Silicon was the first commercial next-generation silicon anode technology to enter the market in 2021. Today, it delivers up to a 20-25% energy density improvement over the industry’s best performing graphite cells, enabling automakers to deliver unmatched EV performance, dramatically increasing vehicle range and reducing charge times – pivotal to addressing consumer concern in switching to electric. Future releases of Titan Silicon will drive improvement of up to 40%, recharge times to less than 10 minutes, and lower the $/kWh cost of batteries.
Databricks Raises Series I Investment at $43B Valuation
Databricks, the Data and AI company, today announced its Series I funding, raising over $500 million. This funding values the company at $43 billion and establishes the price per share at $73.50. The series is led by funds and accounts advised by T. Rowe Price Associates, Inc., which is joined by other existing investors, including Andreessen Horowitz, Baillie Gifford, ClearBridge Investments, funds and accounts managed by Counterpoint Global (Morgan Stanley), Fidelity Management & Research Company, Franklin Templeton, GIC, Octahedron Capital and Tiger Global along with new investors Capital One Ventures, Ontario Teachers’ Pension Plan and NVIDIA.
The Databricks Lakehouse unifies data, analytics and AI on a single platform so that customers can govern, manage and derive insights from enterprise data and build their own generative AI solutions faster. “Enterprise data is a goldmine for generative AI,” said Jensen Huang, founder and CEO of NVIDIA. “Databricks is doing incredible work with NVIDIA technology to accelerate data processing and generative AI models.”
🔋♻️ 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.
♻️ Sortera Technologies Closes $30.5 Million in New Funding to Fully Commercialize Its State-of-the-Art Upcycling Facility
Sortera Technologies, Inc., an innovative material sorting company with a recycling platform powered by artificial intelligence, data analytics, and advanced sensors, today announced the close of a $30.5 million Series C funding round led by RA Capital Management-Planetary Health with participation from certain funds and accounts advised by T. Rowe Price Associates, Inc., the Mineral Resources Group, which is a part of Mitsubishi Corporation’s Business Incubation Unit, and Macquarie GIG Energy Transition Solutions. This funding will fuel Sortera’s growth as a major player in the domestic upcycling space.
In just two and a half years of operations, Sortera has demonstrated that its technology platform can accurately and rapidly handle complex sorting of pre-production aluminum and end-of-life mixed metals. Sortera’s first full-scale facility, located in Markle, Indiana, is currently being commissioned to sort up to 220 million pounds of mixed metals per year. By sorting mixed metals into single alloy streams, Sortera enables greater use of recycled material in manufacturing, lowers the costs of metals production, increases the availability of metals for domestic manufacturers, and reduces pollution and greenhouse gas emissions associated with virgin metals production. The resulting high-quality upcycled materials from Sortera’s operation will be put back into the U.S. market, representing a significant contribution to the circular economy movement and to the security of domestic resources. The Series C funds will be used to expand Sortera’s operations in North America and accelerate the company’s growth in the more than $1 trillion metals and recycling markets.
🧠⛏️ KoBold Metals Is Silicon Valley’s Newest Unicorn
Berkeley, Calif.-based KoBold Metals, which explores for metals such as copper, lithium and cobalt using artificial intelligence, is raising around $200 million in a fundraising round, said co-founder and Chief Executive Kurt House. The capital injection values the company at more than $1 billion, he said. Part of that will be used to help it develop copper reserves it recently acquired in Zambia. A division of T. Rowe Price that manages client money led the round.
KoBold hadn’t planned on raising money so soon after its fundraising round last year, but stepped up plans in light of its copper project in Zambia. It also plans to use the fundraising proceeds for nickel and lithium exploration projects and software and hardware research and development, House said.