Fenwick represented Standard Investments in its investment in KoBold Metals, a startup backed by Bill Gates’s Breakthrough Energy Ventures that aims to use artificial intelligence to find metals needed for the electric-vehicle boom, in its $192.5 million Series B financing. The financing was led by T. Rowe Price, with participation from Canada Pension Plan Investments, BOND Capital, Standard Investments, BHP Ventures, Mitsubishi, Sam Altman’s Apollo Projects, Sarah Kunst’s Cleo Capital and existing investors Breakthrough Energy Ventures, Andreessen Horowitz and Equinor.
KoBold will use the new funding to accelerate efforts to find critical battery materials. More information can be obtained from the company's announcement.
The Fenwick transaction team was led by corporate partner Ian Goldstein and included associates Angela Park and Ugo Nwasike.