The $200M Unconventional Exit of Cambrian

In November 2023, Cambrian announced a $200 Million Growth Equity commitment from Pennybacker. That came along an unconventional move: Pennybacker was also acquiring Cambrian (for an undisclosed amount).
So, what's to think of this? What factors led to this unconventional move? Why would I feel there's a bittersweet taste to it? What does it actually mean for other water tech companies? Why is it great news for early-stage water investors? And... who's Cambrian, if you never heard of them?
Let's explore!
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#️⃣ All the Links Mentioned in this Video #️⃣
Cambrian's Website: www.cambrianin...
Pennybacker Capital's Website: www.pennybacke...
My interviews with Matthew Silver (be kind; it was a while ago, and my sound quality dramatically improved in between 😅)
Part 1: smartlink.aush...
Part 2: smartlink.aush...
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⏰ TIME CODES ⏰
00:00 Cambrian: from MIT and NASA to Impact
01:32 Cambrian: the New American Water?
06:50 What led to Cambrian's "bizarre" exit?
12:41 A Bittersweet deal?
13:31 Why is it GREAT news, still?
14:24 What does it mean for the future?