Forge Investment Outlook Q4 2025
$46.98 $46.98-$0.42 (-0.89%)+$0.82 (1.78%)+$0.93 (2.02%)+$1.98 (4.40%)+$1.98 (4.40%)
| Funding Date | Share Class | Amount Raised | Price Per Share | Post-Money Valuation 3 | Key Investors | |
|---|---|---|---|---|---|---|
| 10/23/2025 | Series E | $350MM | $47.74 | $6.04B | Eclipse Ventures, Nvidia | |
|
Price Per Share
$47.74
Shares Outstanding
7,332,015
Liquidation Pref Order
1
Liquidation Pref As Multiplier
2.0x
Conversion Ratio
1.0x
Dividend Rate
0.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Eclipse Ventures, Nvidia
|
||||||
| 08/29/2023 | Series D | $1B | $47.74 | $5.25B | Capricorn Investment Group, Deepwater Asset Management, Goldman Sachs, Microsoft Climate Innovation Fund, Omers, T. Rowe Price | |
|
Price Per Share
$47.74
Shares Outstanding
20,948,612
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
0.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Capricorn Investment Group, Deepwater Asset Management, Goldman Sachs, Microsoft Climate Innovation Fund, Omers, T. Rowe Price
|
||||||
| 07/28/2021 | Series C | $779.27MM | $47.40 | $3.7B | Amazon, Baillie Gifford, Breakthrough Energy Ventures, Capricorn Investment Group, Cppib, Emerson Collective, Fidelity, Franklin Templeton, Goldman Sachs, T. Rowe Price, Valor Equity Partners | |
|
Price Per Share
$47.40
Shares Outstanding
16,439,035
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
0.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Amazon, Baillie Gifford, Breakthrough Energy Ventures, Capricorn Investment Group, Cppib, Emerson Collective, Fidelity, Franklin Templeton, Goldman Sachs, T. Rowe Price, Valor Equity Partners
|
||||||
| 09/18/2020 | Series B | $37.24MM | $3.26 | $217.84MM | Amazon, Breakthrough Energy Ventures, Capricorn Investment Group, Emerson Collective, Franklin Templeton, Valor Equity Partners | |
|
Price Per Share
$3.26
Shares Outstanding
11,439,410
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
0.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Amazon, Breakthrough Energy Ventures, Capricorn Investment Group, Emerson Collective, Franklin Templeton, Valor Equity Partners
|
||||||
| 06/01/2018 | Series A-2 | $4MM | $0.36 | $18.26MM | Undisclosed Investors | |
|
Price Per Share
$0.36
Shares Outstanding
10,992,635
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
0.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Undisclosed Investors
|
||||||
| 06/01/2018 | Series A | $2MM | $0.17 | $18.26MM | Undisclosed Investors | |
|
Price Per Share
$0.17
Shares Outstanding
11,777,870
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
0.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Undisclosed Investors
|
||||||
| 04/17/2017 | Series Seed | $2MM | $0.14 | $4.78MM | Undisclosed Investors | |
|
Price Per Share
$0.14
Shares Outstanding
13,999,720
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
0.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Undisclosed Investors
|
||||||
Electric-vehicle battery startups Redwood Materials, Ascend Elements, and NanoGraf are taking bold steps to advance their business prospects. In the case of Ascend and NanoGraf, their efforts are being backed by federal funding towards more battery technology that will satisfy the potential increase in demand for electric cars in the future.
| Trade Metrics | Last Funding Round | |||||||
|---|---|---|---|---|---|---|---|---|
| Company | Forge Price | Last Matched Price | Share Class | Post-Money Valuation 3 | Price Per Share | Amount Raised | ||
 | Antora Energy | -- | $xx.xx | Series B | $559.22MM | $4.81 | $9.1MM | |
 | Element Energy | -- | $xx.xx | Series C | $259.38MM | $6.04 | $31.61MM | |
 | Form Energy | $25.00 +$0.82 (3.39%) | $xx.xx | Series F | $3.42B | $24.18 | $405MM | |
 | Group14 Technologies | -- | $xx.xx | Series D | $5.08B | $30.00 | $276.12MM | |
 | Northvolt | -- | $xx.xx | Series E | -- | -- | -- | |
 | Sila Nanotechnologies | $14.22 -$0.01 (0.07%) | $xx.xx | Series G | $2.02B | $16.42 | $375MM | |
 | Sion Power | -- | $xx.xx | Series A-2 | $425.6MM | $1.42 | $62.5MM | |
 | Span | -- | $xx.xx | Series B-2 | $695.91MM | $11.48 | $100MM | |
 | TerraPower | -- | $xx.xx | -- | -- | -- | -- | |
 | ZincFive | -- | $xx.xx | Series E | $58.79MM | $0.12 | $30.22MM | |
Updated on: Oct 23, 2025
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