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Venture Capital
missionventures.com

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Investments

121

Portfolio Exits

34

Funds

4

About Mission Ventures

Mission Ventures helps build successful enterprises in Southern California. This strategy is implemented through the following key actions: Investing Primarily in the Entrepreneurial Activities of Southern California; Investing in Early-Stage, Software, I.T. Infrastructure and Tech-driven Service Companies; Assuming Active Roles as Lead Investor; Forging and Maintaining Loyal, Productive Relationships with Regional Business Leaders and Entrepreneurs; Helping Portfolio Companies to Develop Strong Management Teams; Partnering with Other Quality Venture Capital Firms.

Mission Ventures Headquarter Location

11455 El Camino Real, Suite 450

San Diego, California, 92130,

United States

858. 350. 2100

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Latest Mission Ventures News

Fidelity Leads $81M Investment in Enevate to Accelerate Commercialization of Fast-Charging Electric Vehicle Battery Technology

Feb 11, 2021

• Advances Silicon Anode Cell Technology for EVs IRVINE, Calif., February 10, 2021-- Enevate, a pioneer in advanced silicon-dominant lithium-ion (Li-ion) battery technology featuring extreme fast charge and high energy density for electric vehicles (EVs) and other markets, announced that it has secured a $81M Series E funding led by Fidelity Management & Research Company, providing the company with additional new resources aimed at accelerating global mass adoption of Enevate’s unique battery technology in electric vehicles. Existing investors, Mission Ventures and Infinite Potential Technologies, also participated in the round. Enevate said that the investment would enable the company to significantly expand its pre-production line designed to guide EV and other battery customers toward implementing larger-scale battery manufacturing utilizing Enevate’s silicon anode-based batteries. The funding would also enable Enevate to scale and grow. Included will be the hiring of additional personnel with an emphasis on scientists and engineers. With this latest funding round, Enevate has raised $191 million to date. “This latest funding reflects our investors’ confidence in our progress with our customers, our technology, and our team,” said Enevate CEO Robert A. Rango. “As our fast-charge technology is implemented, we see a day in the not-too-distant future when EV drivers will be able to pull up to drive-thru charging stations that will look much like today’s gas stations, charge up and be back on the road in five minutes.” “We congratulate Enevate on this latest round of funding, and look forward to additional collaboration as we continue to develop competitive and exciting products for our customers,” said Hadi Zablit, Chairman of Alliance Ventures, a partnership of Renault, Nissan and Mitsubishi. “Our collaboration with Enevate started in 2017 and progresses today, we are excited about fast charge, high energy density technology and we are working to bring it to the EV market. Congratulations to the Enevate team on this latest milestone,” said Sungrok Bang, Director of Open Innovation from LG Energy Solutions, the battery spinout from LG Chem. “As an investor, we believe Enevate’s technology possesses a combination of advantages that is highly attractive to both the EV and power tool battery markets in both pouch and cylindrical cell formats. The advantages are enabled by Enevate’s unique silicon anode technology, which attracted us as an investor,” said a representative from Samsung Venture Investment Corporation. “We congratulate Enevate’s funding achievement on its expeditious path to commercialization.” Enevate’s business model of technology transfer and intellectual property licensing is efficient for any company that operates or plans to operate a battery manufacturing facility. Enevate works with multiple automotive OEMs and EV battery manufacturers, enabling them to utilize existing manufacturing infrastructure with minimal additional investment, facilitating the next-generation of EVs that will eliminate customer pain points with EV ownership. The company holds the largest portfolio of patents related to silicon Li-ion cell technologies when compared to startups worldwide, and includes a broad spectrum of advanced Li-ion cell innovations, including anode, cathode, electrolyte, separator, formation, cell design and cell architecture. Enevate now has patents in jurisdictions covering over 95% of EV sales worldwide. About Enevate (www.enevate.com) Enevate develops and licenses advanced silicon-dominant Li-ion battery technology for electric vehicles (EVs), with a vision of EVs charging as fast as refueling gas cars, accessible and affordable to everyone, and accelerating EVs’ mass adoption. With a portfolio of more than 350 patents issued and in process, Enevate’s pioneering advancements in silicon-dominant anodes and cells have resulted in battery technology that features five-minute extreme fast charging with high energy density, low temperature operation for cold climates, low cost and safety advantages over conventional batteries. Enevate’s vision is to develop and propagate EV battery technology that contributes to a clean and sustainable environment. The Irvine, California-based company’s other investors include Renault-Nissan-Mitsubishi (Alliance Ventures), LG Chem, Samsung Venture Investment Corp, Mission Ventures, Draper Fisher Jurvetson, Tsing Capital, Infinite Potential Technologies, Presidio Ventures – a Sumitomo Corporation company, Lenovo, CEC Capital and Bangchak. Enevate®, the Enevate logo, XFC-Energy™, HD-Energy®, and eBoost® are registered trademarks of Enevate Corporation. Contact:

Mission Ventures Investments

121 Investments

Mission Ventures has made 121 investments. Their latest investment was in Enevate as part of their Series E on February 2, 2021.

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Mission Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

2/10/2021

Series E

Enevate

$81M

No

19

4/4/2018

Convertible Note

Brightday

$0.3M

Yes

1

9/15/2015

Series B - II

Enevate

$30M

No

1

7/17/2014

Convertible Note

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$99M

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10

3/26/2014

Debt - II

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$99M

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10

Date

2/10/2021

4/4/2018

9/15/2015

7/17/2014

3/26/2014

Round

Series E

Convertible Note

Series B - II

Convertible Note

Debt - II

Company

Enevate

Brightday

Enevate

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Amount

$81M

$0.3M

$30M

$99M

$99M

New?

No

Yes

No

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Co-Investors

Sources

19

1

1

10

10

Mission Ventures Portfolio Exits

34 Portfolio Exits

Mission Ventures has 34 portfolio exits. Their latest portfolio exit was Verisk 3E on January 24, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

1/24/2022

Acquired Unit - Fin

$99M

2

5/16/2019

Acq - Fin

$99M

1

12/5/2018

Acquired

$99M

6

11/15/2017

Acquired

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$99M

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10

9/15/2017

Acquired

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$99M

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10

Date

1/24/2022

5/16/2019

12/5/2018

11/15/2017

9/15/2017

Exit

Acquired Unit - Fin

Acq - Fin

Acquired

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

2

1

6

10

10

Mission Ventures Acquisitions

1 Acquisition

Mission Ventures acquired 1 company. Their latest acquisition was Verisk 3E on December 09, 2010.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

12/9/2010

$99M

Acquired

1

Date

12/9/2010

Investment Stage

Companies

Valuation

$99M

Total Funding

Note

Acquired

Sources

1

Mission Ventures Fund History

4 Fund Histories

Mission Ventures has 4 funds, including Mission Ventures III LP.

Closing Date

Fund

Fund Type

Status

Amount

Sources

8/1/2005

Mission Ventures III LP

Early-Stage Venture Capital

Closed

$210M

1

6/30/2000

Mission Ventures II LP

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$99M

10

12/31/1999

Mission Ventures LP

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$99M

10

Mission Ventures IV LP

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10

Closing Date

8/1/2005

6/30/2000

12/31/1999

Fund

Mission Ventures III LP

Mission Ventures II LP

Mission Ventures LP

Mission Ventures IV LP

Fund Type

Early-Stage Venture Capital

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Status

Closed

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Amount

$210M

$99M

$99M

Sources

1

10

10

10

Mission Ventures Team

8 Team Members

Mission Ventures has 8 team members, including current Chief Financial Officer, Caroline A. Barberio.

Name

Work History

Title

Status

Caroline A. Barberio

Chief Financial Officer

Current

Donna Pierzina

Controller

Current

Ted Alexander

Managing Partner

Current

Edward E Alexander

Managing Partner

Current

Robert Kibble

Managing Partner

Current

Name

Caroline A. Barberio

Donna Pierzina

Ted Alexander

Edward E Alexander

Robert Kibble

Work History

Title

Chief Financial Officer

Controller

Managing Partner

Managing Partner

Managing Partner

Status

Current

Current

Current

Current

Current

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