Latham & Watkins Advised On US$1 Billion Investment Round In Octopus Energy Group’s Kraken, A Leading Energy-Focused Technology Unicorn

Latham & Watkins Advised on US$1 Billion Investment Round in Octopus Energy Group’s Kraken, a Leading Energy-Focused Technology Unicorn

Latham & Watkins advised on US$1 Billion Investment round in Octopus Energy Group has announced the first standalone investment round into its world-leading technology company, Kraken. The funding round is led by D1 Capital Partners, a leading global investment firm, alongside other new investors such as Fidelity International, Durable Capital Partners, and Ontario Teachers' Pension Plan Board, via its late-stage growth business Teachers’ Venture Growth.

This round sees new and existing investors acquiring approximately US$1 billion of Kraken equity to fund both Octopus and Kraken. Investors led by Octopus Capital are also injecting a further US$320 million into Octopus for innovation and growth.

The Latham & Watkins LLP team was led by John Miller (Partner), Farah O’Brien (Partner), and Haim Zaltzman (Partner), with Pat Argenio (Associate), Nick Fisher (Associate), and Joe Donoso (Associate). Advice was also provided on tax matters by Karl Mah (Partner), and Andrea Ramezan-Jackson (Partner).

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