Two insurers back Crux

Crux , a capital markets platform focused on clean energy, has raised $50 million in a Series B round led by Lowercarbon Capital.

The round included participation from existing investors Andreessen Horowitz, Ardent Venture Partners, CIV, New System Ventures, and The Three Cairns Group, along with new backers Giant Ventures, Acrew Capital, Liberty Mutual Strategic Ventures , MassMutual Ventures , and OMERS Ventures.

This brings the company’s total funding to over $77 million.

Founded in 2023, Crux operates a platform that connects developers, lenders, and tax credit buyers to facilitate clean energy financing. In the past year, it has grown its network to 630 participants, completed over 70 tax credit transfers, and launched a debt marketplace that has already generated over $1 billion in term sheets.

With the new capital, Crux plans to expand its network to more than 1,000 counterparties, scale its debt and tax credit marketplaces, enhance its software with AI-driven tools for diligence and transaction execution, and embed more market intelligence from its $30 billion dataset. Crux aims to become the central platform for managing clean energy financing across the capital stack.