“That’s like a 10-times-your-money deal. “When you’re talking about addressing climate change with a business solution, that is the biggest problem in the world,” Ubben said. Ubben, who founded ValueAct in 2000, said his new fund, Inclusive Capital Partners, will seek to create big returns by pressuring big companies to tackle environmental and social problems. “Elizabeth Warren is right,” he added, referring to the US Senator who has been a gadfly for private equity companies for years, introducing legislation to curb their power in July 2019.
They’ve bought all their shares back,” Ubben said. Everybody’s bought everybody else with low-cost debt. The San Francisco-based hedgie went on to dismiss activist investors who “bully little companies to sell to private equity,” opining that the strategy has played itself out. “Companies, as governed today, with investors asking for more current returns and more buybacks and so forth, aren’t working for society or nature,” Ubben told the Financial Times in an interview. On his way out, the 57-year-old financier took the opportunity to blast corporate greed on Wall Street.
Jeffrey Ubben - a corporate cage-rattler who has prodded for change at behemoths including Microsoft, BP and Nintendo - said he is leaving his $16 billion hedge fund, ValueAct Capital, to start a new fund that’s more socially conscious. 'Big Short' investor Michael Burry places bearish bets against S&P 500 and NasdaqĬrazy crypto-ruling judge shaking up the $1.2 trillion marketĪn activist investor declared that “Elizabeth Warren is right” as he left the helm of his giant hedge fund to focus on environmental and social-impact investing. SEC makes biggest overhaul of $20T private equity, hedge fund industry in years It also raised $1.9m across two funding rounds between 20, regulatory filings show.Tiger Global says ex-employee allegedly targeted firm with misinformation attacks
VALUEACT DRAWDOWN FUND SERIES
This investment followed $5.5m of debt financing from January of that year.Īrcadia previously closed a $6m series A round announced in 2017 that featured EIP and existing investors BoxGroup and Wonder Ventures. The company bagged $25m in an August 2018 series B round backed by ValueAct, EIP, BoxGroup, Wonder Ventures, Cendana Capital, McKnight Foundation and undisclosed existing backers.
The company has raised $180m of funding to date including a previously undisclosed $21m series C1 round from December 2020.Īrcadia received $30m for its series C round in December 2019, which was led by G2VP and included existing investor Mitsui USA, in addition to Macquarie Group, EIP, ValueAct Spring Fund, Seek Ventures and BoxGroup. According to Canary Media, Arcadia planned to use the funds to help customers access even more clean-energy services by inviting other companies to use its. It also plans to scale its solar management portfolio and hire new talent. The series D funding will enable Arcadia to expand its product capabilities to include new verticals such as electric vehicles and distributed energy resources. The platform has more than 350,000 users and it is connected to over 100 utilities across the US. The round was also backed by Wellington Management, Reimagined Ventures, Camber Creek, MCJ Collective, Energy Impact Partners (EIP), G2 Venture Partners (G2VP), Inclusive Capital and BoxGroup.Īrcadia was founded in 2014 and has developed an online energy billing and management platform that can connect consumers to renewable energy sources such as solar power. Stock Market Value: 164.5B (164.52 per share) Activist: ValueAct Capital Percentage Ownership: n/a Average Cost: n/a Activist Commentary: ValueAct has been a premier corporate governance. Arcadia, a US-based renewable energy account management platform backed by conglomerate Mitsui’s Mitsui USA arm, has raised $100m in a series D round co-led by investment firm Tiger Global and growth equity vehicle Drawdown Fund.
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