Tesla Motors Completes $40 Million Financing
Tesla Motors Inc., a San Carlos, Calif.-based maker of electric cars, has raised $40 million in “bridge financing.” Valor Equity Partners and Tesla chairman Elon Musk co-led the round. The company previously raised a $45 million Series D round last May from Musk, Technology Partners, Capricorn Investment Group, Vantage Point Venture Partners, Draper Fisher Jurvetson, JP Morgan Bay Area Equity Fund, Valor Equity Partners and Compass Venture Partners. Tesla recently said that it was hoping to raise another $250 million, via a combination of a private placement and an IPO in either the U.S. or Europe.