Kleiner Perkins chair invests USD 10m in Complete Solaria

• United States residential solar firm Complete Solaria Inc has obtained a USD-10-million (EUR 9.3 m) strategic financial investment from an entity affiliated with the chairman of venture capital firm Kleiner Perkins, John Doerr.

Foris Ventures LLC has actually made the investment in the form of a firm commitment to acquire USD 10 million worth of exchangeable notes. The move belongs to a previously-announced bridge round of USD 30 million, the function of which was to sustain Complete Solaria's pending merger with blank-check company Freedom Acquisition I Corp (NYSE: FACT).

Complete Solaria was created in November 2022 when Complete Solar Holding Corp and also The Solaria Corp incorporated their companies to develop a complete system operator with an enhanced nationwide presence and also solid capacity for organic development. This deal was a milestone for the prepared service mix between Complete Solaria and also Freedom whereby the former will certainly safeguard a listing on the New York Stock Exchange (NYSE).

The go-public merger is expected to be completed in the initial half of 2023.