We are thrilled to announce our investment in Benchmark Mineral Intelligence, an industry-leading and fast growing price-reporting agency and information services company focused on the lithium-ion battery and electric vehicle (EV) supply chain.
It is rare for Spectrum to have the opportunity to get portfolio exposure to a growth segment as dynamic and consequential as the global energy transition given our narrow business model focus. It is rarer still to be the first institutional investor in a bootstrapped, category leading company like Benchmark, whose comprehensive suite of pricing data, forecast models and industry intelligence are being used in major contract negotiations, infrastructure investment and government policy decisions across the entire lithium EV battery supply chain.
Here’s why we are so excited about this company.
We are entering a new era that will be defined by sustainability. The transition from internal combustion engines to electric vehicles provides a once in a generation growth backdrop for a company like Benchmark.
Spectrum has backed category-defining data and information services companies for nearly 30 years. Underpinning all of them is distinctive and hard-to-get data. Benchmark has spent a decade ‘going deep’ to build and maintain a unique global coverage framework and the granular data needed by all major market participants in the EV supply chain.
Benchmark pioneered research and data coverage of the EV supply chain and built strategic relationships with all major market participants along the way. Benchmark’s customer base today is a ‘who’s who’ list of established market leaders and startup specialists driving innovation.
We have deep conviction that Benchmark will play an important role in supporting the energy transition and leading the EV supply chain data category, and we’re thrilled to back CEO Simon Moores, COO Andy Miller and the rest of the Benchmark team around their ambitious growth plans.
If you’d like to learn more about the company, read the press release about Spectrum’s partnership with Benchmark.