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Latham & Watkins Advises KoBold Metals in US$195 Million Funding Round

June 20, 2023
Cross-border team represents the AI-powered mining startup in latest funding round, gaining unicorn status.

KoBold Metals, a mineral exploration company driving the clean energy future by accelerating the discovery of critical metals with AI and machine learning, has announced a US$195 million funding round, bringing the company’s valuation to over US$1 billion and making it Silicon Valley’s newest climate-tech unicorn. The round was led by T.Rowe Price, and included existing investors Andreessen Horowitz, Breakthrough Energy Ventures, and BOND. The round also included Standard Investments, Equinor Ventures, BHP Ventures, Mitsubishi Corporation, Earthshot Ventures, and the July Fund.

Latham & Watkins LLP advised KoBold in the investment with a corporate team led by Bay Area partner Benjamin Potter, London partner John Balsdon, and Houston partner Ryan Maierson, with associates Evan Youngstrom, Michelle Chern, and Lisa Quelch. This follows Latham’s representation of KoBold in a US$192.5M Series B financing and a US$150M Mingomba Deposit Investment last year.