D.C.’s Arcadia is the latest area venture to achieve unicorn status — meaning a private company with a valuation of over $1 billion. In the climate tech company’s case, it’s actually blown by that mark to $1.5 billion, the company said, following a massive $200 million Series E investment announced Tuesday.
The round was led by JPMorgan Asset Management’s Sustainable Growth Equity Team, that venture’s inaugural investment. Palo Alto, California’s Triangle Peak Partners also took part as a new investor. Existing partners who participated include Camber Creek of Rockville; New York’s Tiger Global Management LLC; Boston’s Wellington Management; and Park City, Utah’s Drawdown Fund.
That brings the company’s total funding to date to $385 million, the company confirmed, but most of that was gathered in just the last year. Arcadia raised $100 million in Series D funding just eight months ago. That round was led by Global Management and the Drawdown Fund.
“We feel very…
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