🏆 Deal of the Month · December 2023
Octopus Energy raised USD 800M in a Private Equity round, valuing the company at USD 7.8bn, with the deal closing in December 2023. The round was backed by Canada Pension Plan Investment Board, Generation Investment Management, Origin Energy, and Tokyo Gas. The capital is earmarked to accelerate Octopus Energy's international expansion and scale its low-carbon technology offerings globally.
$800m investment to accelerate Octopus Energy’s global clean energy growth — key deal facts
| Company | $800m investment to accelerate Octopus Energy’s global clean energy growth |
| Founded | 2015 |
| Headquarters | London, United Kingdom |
| Amount raised | USD 800M |
| Valuation | USD 7.8bn |
| Round | Private Equity |
| Investors | Canada Pension Plan Investment Board Generation Investment Management Origin Energy Tokyo Gas |
| Sectors | Energy Efficiency |
Who invested in $800m investment to accelerate Octopus Energy’s global clean energy growth?
The investor syndicate comprises Canada Pension Plan Investment Board, Generation Investment Management, Origin Energy, and Tokyo Gas. The mix is notable for its geographic and strategic breadth: a major sovereign pension fund, a dedicated sustainability-focused growth equity firm, an Australian integrated energy company, and a leading Japanese gas utility each bring distinct market access and sector alignment. This combination signals strong institutional conviction in Octopus Energy's Kraken platform and its potential to reshape retail energy markets across multiple continents.
What does $800m investment to accelerate Octopus Energy’s global clean energy growth do?
Octopus Energy is a London-headquartered clean energy technology company founded in August 2015 by the Octopus Group, with Greg Jackson as CEO. The company supplies electricity, gas, hydrogen, heat pumps, and electric vehicle services to consumers, and licenses its proprietary Kraken platform — a data and machine learning system — to utilities worldwide, supporting over 54 million customer accounts. Octopus operates across 18 countries and manages a £6 billion renewable energy portfolio, positioning itself as both an energy retailer and a technology provider to the broader clean energy transition.
$800m investment to accelerate Octopus Energy’s global clean energy growth valuation & multiples
No existing multiples analysis was provided for this deal. For context on valuation benchmarks applicable to energy efficiency and clean energy technology businesses, readers can explore the relevant sector multiples pages on DealMatrix.
Frequently asked questions
How much did Octopus Energy raise in its Private Equity round?
Octopus Energy raised USD 800M in a Private Equity round that closed in December 2023.
What is Octopus Energy's valuation?
Octopus Energy was valued at USD 7.8bn at the time of this Private Equity round.
Who invested in Octopus Energy's Private Equity round?
The round was backed by Canada Pension Plan Investment Board, Generation Investment Management, Origin Energy, and Tokyo Gas.
When was Octopus Energy founded and where is it based?
Octopus Energy was founded in August 2015 and is headquartered in London, United Kingdom.
Source: original announcement — read the full report.