Leapfrog Investments plops $70m into Sun King, an off-grid solar company

28 Apr 2023

In April of 2022, General Atlantic's BeyondNetZero and M&G Investments led a $260 million Series D investment in Sun King, which has since been increased by an additional $38 million in primary investment. With this funding, the firm can go on with its plans to provide solar power to the 1.8 billion people in Africa and Asia who do not now have access to dependable energy via consumer financing.

All of Sun King's original institutional investors will be fully liquidated thanks to the secondary investment included in the Series D extension. While the company's founders will still have the last say in elections, fellow Series D investors General Atlantic and M&G Investments, as well as Prabha Sinha, Sun King's first investor, will now be represented on the board of directors alongside LeapFrog.

 

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