2 minute read | June.08.2023
Eurazeo, a leading European private equity firm, has become the major shareholder in UrbanChain, an innovative UK energy tech company.
Orrick advised Eurazeo in its investment in UrbanChain as part of a Series A funding round that raised £5.25m. Eurazeo has more than €35 billion in assets under management and has invested in or funded more than 600 companies.
Launched in 2017 with headquarters in Manchester, England, UrbanChain runs the UK’s leading peer-to-peer energy exchange, a unique energy market and trading platform for renewables. Powered by an integrated blockchain and AI system, UrbanChain matches companies that generate renewable energy with consumers who want to buy it. It promises to disrupt the market by reducing power bills for homes and businesses.
“We are very happy to partner with the UrbanChain team and look forward to supporting them in bringing their technology and business model forward internationally,” said Pierre Devillard, managing director in Eurazeo’s Venture Smart City team. “What they do is clearly the future of electricity markets!”
UrbanChain says it plans to:
The Orrick team advising Eurazeo includes Shawn Atkinson, Stephen Tallon, Rachel Leigh, Natasha Ahmed, Charlotte Oliver, Vincent Lim, Craig Bruce and Rachel Conder.