# Generate Capital funding: rounds and investors

> Generate Capital has raised $1.3B across 3 rounds since 2025. Investors include MUFG Bank and KeyState. Every round with its source.

Source: https://millionrounds.com/company/generate-capital (Millionrounds; every figure on the page links to its filing or article)

United States · [Funded startup](https://millionrounds.com/companies)

# Who invested in *Generate Capital*

3 rounds we have observed, with the 2 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.

Cleantech Construction Energy

Raised 2 months ago

Funding summary Updated 26 Oct 2026

**$1.3B** raised across 3 rounds since 2025, from 3 sources

**$1.0B** Debt **$155M** Debt **$117M** Debt

- **Latest round:** Debt, $117M Sept 2026
- **Biggest round:** $1.0B Debt · Nov 2025
- **Investors:** 2

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.

2026

**$1.0B** Debt

**$155M** Debt

**$117M** Debt

- **First round:** Debt, $1.0B
- **Biggest round:** $1.0B
- **Usual gap between rounds:** 5 months

## The rounds

- **Sept 2026** Debt **$117M** *1 new* [MUFG Bank](https://millionrounds.com/fund/mufg-bank) Source recorded
- **Apr 2026** Debt **$155M** *1 new* [KeyState](https://millionrounds.com/fund/keystate) Reported by Pulse 2.0
- **Nov 2025** Debt **$1.0B** No investor was named in the report. Source recorded

## Founders and team

From Generate Capital's own website and the SEC filings it signed: 25 on the team.

- **David Crane** Chief Executive Officer
- **Edward Bossange** Chief Capital Formation Officer
- **Harsi Thethi** Chief Financial Officer
- **Alyssa Anderson** VP, Business Operations
- **Andrew Miller** VP, Data & Technology
- **Gopal Vemuri** Head of Customer Solutions
- **Joshua Friedman** Head of Total Rewards
- **Logan Goldie-Scot** Head of Grid IX
- **Sarie Lovell** SVP, Head of Asset Management & Operations
- **Tina Wadhwa** VP, Marketing and Communications
- **Georgina Owino** Deputy General Counsel
- **Marietta Moshiashvili** Board Member
- **Valerie Hannah** Board Member
- **Brian Lehman** Executive Officer i
- **Darryl G. Carbonaro** Executive Officer i
- **Derek Chu** Board Member
- **Jack G. Stark** Executive Officer i
- **Kristin Groos Richmond** Board Member

And 7 more on the team.

On the board, as filed i *Lynn Jurich* *Ross Israel* *Susan E. Gonzalez*

## 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.

**Debt** 2025 **Debt** 2026 **Debt** 2026 [MUFG Bank](https://millionrounds.com/fund/mufg-bank) [KeyState](https://millionrounds.com/fund/keystate)

## Everyone who backed them

[MUFG Bank](https://millionrounds.com/fund/mufg-bank) Investment firm **1** round

[KeyState](https://millionrounds.com/fund/keystate) Investment firm **1** round

Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=generate-capital).

## Also claim to have backed them

These 3 firms list Generate Capital 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.

[Thirdstream Partners](https://millionrounds.com/fund/thirdstream-partners) VC firm Per its own site

[Rock Creek](https://millionrounds.com/fund/managing-director) Government Per its own site

[Sustainable Venture Capital LLC](https://millionrounds.com/fund/sustainable-venture-capital-llc) VC firm Per its own site

## Quick answers about Generate Capital

### Who invested in Generate Capital?

Generate Capital's investors include MUFG Bank and KeyState.

### How much has Generate Capital raised?

Generate Capital has raised $1.3B across 3 rounds since 2025.

### When did Generate Capital last raise?

Generate Capital's most recent round was a Debt of $117M in Sept 2026.

### What was Generate Capital's biggest round?

Generate Capital's largest round on record is $1.0B (Debt), in Nov 2025.

### Who backed Generate Capital first?

Generate Capital's first round on record, in Apr 2026, was backed by KeyState.

### What stage is Generate Capital at?

Generate Capital's latest named round is a Debt, in Sept 2026.

### Where is Generate Capital based?

Generate Capital is based in the United States.

## Companies like Generate Capital

In the same sector, and raised in the last eighteen months.

[**Amogy** $125M · Oct 2026](https://millionrounds.com/company/amogy)[**xPay** $1.5M · Oct 2026](https://millionrounds.com/company/xpay)[**LanzaJet** $67M · Oct 2026](https://millionrounds.com/company/lanzajet)[**Pivot Energy** $500M · Oct 2026](https://millionrounds.com/company/pivot-energy)[**Pennsylvania American Water** $43M · Oct 2026](https://millionrounds.com/company/pennsylvania-american-water)[**Peak Energy** $163M · Oct 2026](https://millionrounds.com/company/peak-energy)

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