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Is Fisker joining the $2 billion club?

August 19, 2011: 10:08 AM ET

Electric car-maker Fisker Automotive is seeking to raise around $200 million at a valuation of around $2.2 billion, according to multiple sources.

Existing shareholder Advanced Equities is marketing the deal, which is being characterized as a "pre-IPO" round. Not surprising given that rival Tesla Motors (TSLA) is already public with a market cap of around $2.5 billion. On the other hand, if I had an electric car for every cleantech company that has raised "pre-IPO" funding without filing for an actual IPO, I'd need to pave a few more driveways…

Fisker's valuation has yo-yoed a bit, but this would be an up-round. Research firm VC Experts reports that Fisker's last financing, completed earlier this year, came at a $1.5 billion valuation.

VC Experts also reports that Chicago-based Advanced Equities is now Fisker's largest outside shareholder, with a 14.61% position. Kleiner Perkins Caufield & Byers comes in second with 12.61%. Other significant shareholders include ACE Strength Ltd., New Enterprise Associates and A123 Systems.

A Fisker spokeswoman did not return a request for comment.

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About This Author
Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

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