# Crusoe Energy Systems funding: rounds and investors > Crusoe Energy Systems has raised $12B across 3 rounds since 2019. Investors include Founders Fund, Bain Capital Ventures and Blue Owl Capital. Source: https://millionrounds.com/company/crusoe-energy-systems (Millionrounds; every figure on the page links to its filing or article) United States · [Funded startup](https://millionrounds.com/companies) # 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. AI Big Data & Analytics Cloud Energy Valuation: $2.0B, Oct 2024 Follow Crusoe Energy Systems and see its new rounds in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Fcompany%2Fcrusoe-energy-systems) Funding summary Updated 5 Nov 2026 **$12B** raised across 3 rounds since 2019, from 3 sources **$4.5M** Seed **$500M** Round **$12B** Round - **Latest round:** Round, $12B May 2025 - **Led by:** Blue Owl Capital - **Step-up i:** 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. 2019 2020 2021 2022 2023 2024 2025 **$4.5M** Seed **$500M** Round **$12B** Round - **First round:** Seed, $4.5M - **Biggest round:** $12B - **Usual gap between rounds:** 5.5 years ## The rounds - **May 2025** Round **$12B** *2 new* [Blue Owl Capital](https://millionrounds.com/fund/blue-owl-capital) Lead [Primary Digital Infrastructure](https://millionrounds.com/fund/primary-digital-infrastructure) Reported by TechStartups - **Nov 2024** Round **$500M** *1 new* [Founders Fund](https://millionrounds.com/fund/founders-fund) Lead Reported by Crunchbase News - **May 2019** Seed **$4.5M** *5 new* [Bain Capital Ventures](https://millionrounds.com/fund/bain-capital-ventures) Lead [Founders Fund Pathfinder](https://millionrounds.com/fund/founders-fund-pathfinder) Lead [Dragonfly Capital Partners](https://millionrounds.com/fund/dragonfly-capital-partners) [Winklevoss Capital](https://millionrounds.com/fund/winklevoss-capital) [Wicklow Capital](https://millionrounds.com/fund/wicklow-capital) Reported by FinSMEs SEC 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. - Apr 2021 **$128M** 35 investors equity, securities on exercise SEC Form D - Nov 2019 **$27M** 16 investors equity of $30M offered SEC Form D - Mar 2019 **$4.5M** 17 investors equity SEC 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 Cavness** Co-founder, President and Chief Strategy Officer - **Chris Dolan** Chief Data Center Officer - **Jamey Seely** Chief Legal Officer - **Matt Field** Chief Real Estate Officer - **Michael Gordon** Chief Operating Officer and Chief Financial Officer - **Nitin Perumbeti** Chief Technology Officer - **Tara Green** Chief People Officer - **Tim Loos** Chief Accounting Officer - **Andrew Likens** VP, Business Development, Energy - **Ron Hansra** VP, Customer Experience - **Sharieff Mansour** VP, Marketing - **Nader Pakfar** General Counsel, Real Estate - **Stephen Martin** Global Risk & Compliance Officer - **Charles Cavness** Executive Officer, Director i - **Chase Lochmiller** Executive Officer, Director i On the board, as filed i *Nael Kassar* *Sam Teller* *Stefan 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. **Seed** 2019 **Round** 2024 **Round** 2025 [Founders Fund](https://millionrounds.com/fund/founders-fund) L [Bain Capital Ventures](https://millionrounds.com/fund/bain-capital-ventures) L [Blue Owl Capital](https://millionrounds.com/fund/blue-owl-capital) L [Founders Fund Pathfinder](https://millionrounds.com/fund/founders-fund-pathfinder) L [Dragonfly Capital Partners](https://millionrounds.com/fund/dragonfly-capital-partners) [Winklevoss Capital](https://millionrounds.com/fund/winklevoss-capital) [Wicklow Capital](https://millionrounds.com/fund/wicklow-capital) [Primary Digital Infrastructure](https://millionrounds.com/fund/primary-digital-infrastructure) ## Everyone who backed them [Founders Fund](https://millionrounds.com/fund/founders-fund) VC firm **1** round, led 1 [Bain Capital Ventures](https://millionrounds.com/fund/bain-capital-ventures) VC firm **1** round, led 1 [Blue Owl Capital](https://millionrounds.com/fund/blue-owl-capital) Private equity **1** round, led 1 [Founders Fund Pathfinder](https://millionrounds.com/fund/founders-fund-pathfinder) Investment firm **1** round, led 1 [Dragonfly Capital Partners](https://millionrounds.com/fund/dragonfly-capital-partners) VC firm **1** round [Winklevoss Capital](https://millionrounds.com/fund/winklevoss-capital) Family office **1** round [Wicklow Capital](https://millionrounds.com/fund/wicklow-capital) VC firm **1** round [Primary Digital Infrastructure](https://millionrounds.com/fund/primary-digital-infrastructure) Private equity **1** round Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=crusoe-energy-systems). ## 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 Partners](https://millionrounds.com/fund/valor-equity-partners) VC firm Per its own site [Zigg Capital](https://millionrounds.com/fund/zigg-capital) Private equity Per its own site [Mistral Equity Partners](https://millionrounds.com/fund/mistral-equity-partners) Private equity Per its own site [Allatus](https://millionrounds.com/fund/allatus) Accelerator Per its own site [Conduit](https://millionrounds.com/fund/conduit) Accelerator Per 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. ## Companies like Crusoe Energy Systems In the same sector, and raised in the last eighteen months. [**Laza Medical** $160M · Nov 2026](https://millionrounds.com/company/laza-medical)[**Journify** $12M · Nov 2026](https://millionrounds.com/company/journify)[**Nooks** $543M · Nov 2026](https://millionrounds.com/company/nooks)[**e2e** $8.0M · Nov 2026](https://millionrounds.com/company/e2e)[**Guava** $13M · Nov 2026](https://millionrounds.com/company/guava)[**Applied Compute** $580M · Nov 2026](https://millionrounds.com/company/applied-compute) ## Find investors like these Search every investor by what they have actually funded, then narrow to your stage and market. Free. Open the investor searchOr these rounds in the app