United States · Funded startup

Who invested in Crusoe Energy Systems

3 rounds we have observed, with the 8 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it.

AIBig Data & AnalyticsCloudEnergy

Valuation: $2.0B, Oct 2024

Funding summaryUpdated 5 Nov 2026

$12Braised across 3 rounds since 2019, from 3 sources

$4.5MSeed$500MRound$12BRound
Latest round
Round, $12BMay 2025
Led by
Blue Owl Capital
Step-upi
23.2×
Investors
8 (4 led)
See who backed them

The funding story

Each circle is a round, placed by date and sized by amount. The line above is the running total.

2019202020212022202320242025
$4.5MSeed$500MRound$12BRound
First round
Seed, $4.5M
May 2019
Biggest round
$12B
Round · May 2025
Usual gap between rounds
5.5 years
the median of 2

The rounds

  1. May 2025
  2. Nov 2024
    Round$500M1 new

    Reported by Crunchbase News

  3. May 2019
    Seed$4.5M5 new

    Reported by FinSMEsSEC filing: $4.5M sold, first sale Mar 2019

Funding filed with regulators

Crusoe Energy Systems filed 3 raises, $160M in all. Filings say how much was sold and to how many investors; they never name the investors.

  1. Apr 2021$128M35 investorsequity, securities on exerciseSEC Form D
  2. Nov 2019$27M16 investorsequityof $30M offeredSEC Form D
  3. Mar 2019$4.5M17 investorsequitySEC Form D

Founders and team

From Crusoe Energy Systems's own website and the SEC filings it signed: 1 founder, 14 on the team.

Cully CavnessCo-founder, President and Chief Strategy Officer
  • Chris DolanChief Data Center Officer
  • Jamey SeelyChief Legal Officer
  • Matt FieldChief Real Estate Officer
  • Michael GordonChief Operating Officer and Chief Financial Officer
  • Nitin PerumbetiChief Technology Officer
  • Tara GreenChief People Officer
  • Tim LoosChief Accounting Officer
  • Andrew LikensVP, Business Development, Energy
  • Ron HansraVP, Customer Experience
  • Sharieff MansourVP, Marketing
  • Nader PakfarGeneral Counsel, Real Estate
  • Stephen MartinGlobal Risk & Compliance Officer
  • Charles CavnessExecutive Officer, Directori
  • Chase LochmillerExecutive Officer, Directori

On the board, as filediNael KassarSam TellerStefan Cohen

Who was in which round

The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led.

Everyone who backed them

Founders FundVC firm1round, led 1
Bain Capital VenturesVC firm1round, led 1
Blue Owl CapitalPrivate equity1round, led 1
Founders Fund PathfinderInvestment firm1round, led 1
Winklevoss CapitalFamily office1round
Wicklow CapitalVC firm1round
Primary Digital InfrastructurePrivate equity1round

Missing a round, or an investor who was in one? Tell us.

Also claim to have backed them

These 5 firms list Crusoe Energy Systems as a portfolio company on their own websites, but no report of a round names them. They are the firms' own claims, kept apart from the rounds above.

Valor Equity PartnersVC firmPer its own site
Zigg CapitalPrivate equityPer its own site
Mistral Equity PartnersPrivate equityPer its own site
AllatusAcceleratorPer its own site
ConduitAcceleratorPer its own site

Quick answers about Crusoe Energy Systems

Who invested in Crusoe Energy Systems?

Crusoe Energy Systems's investors include Founders Fund, Bain Capital Ventures, Blue Owl Capital, Founders Fund Pathfinder and Dragonfly Capital Partners, and 3 more on record. Blue Owl Capital led its latest round.

How much has Crusoe Energy Systems raised?

Crusoe Energy Systems has raised $12B across 3 rounds since 2019.

When did Crusoe Energy Systems last raise?

Crusoe Energy Systems's most recent round was an Undisclosed round of $12B in May 2025, led by Blue Owl Capital.

What was Crusoe Energy Systems's biggest round?

Its most recent round, $12B in May 2025, is also its largest on record.

Who backed Crusoe Energy Systems first?

Crusoe Energy Systems's first round on record, in May 2019, was backed by Bain Capital Ventures, Founders Fund Pathfinder and Dragonfly Capital Partners and 2 others.

What stage is Crusoe Energy Systems at?

Crusoe Energy Systems's latest named round is an Undisclosed round, in May 2025.

Where is Crusoe Energy Systems based?

Crusoe Energy Systems is based in the United States.

Who led Crusoe Energy Systems's rounds?

Bain Capital Ventures led the Seed in 2019; Founders Fund led the funding round in 2024; Blue Owl Capital led the Undisclosed round in 2025.

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