---
title: "September 10–11 VC News: TAR ~$1B, Pinegrove $1.5B, Enflame $912M IPO"
date: 2026-09-11T00:00:00.000Z
source: https://venturecapitaltracker.com/2026-september-10-11-investment-news-tar-pinegrove
---

# September 10–11 VC News: TAR ~$1B, Pinegrove $1.5B, Enflame $912M IPO

Prior tape: [September 9–10 Harvey / Clay / Covenant](/2026-september-9-10-investment-news-harvey-clay-covenant). Month hub: [September 2026 VC news](/2026-september-vc-news).

## Deep dives on this tape

| Date | Entity | Amount | Type | What is actually known | Follow-up |
| --- | --- | --- | --- | --- | --- |
| Sep 10 | [TAR](/startup/tar) | **$120M** at **~$1B** | Series A | [Spark](/fund/spark-capital) led (Bloomberg). **No named offtaker.** June **20 MW** is still a claim. | [TAR memo](/2026-tar-120m-series-a-1b-spark-off-grid-power) |
| Sep 10 | Pinegrove | **$1.5B** | SIF XII close | FoF + co-invest. **$15B+ is platform AUM.** Florida SBA named. | [Pinegrove memo](/2026-pinegrove-1-5b-sif-xii) |
| Sep 11 | [Enflame](/startup/enflame) | **$912M (~¥6.12B)** | STAR IPO | **688801.SS**. Close **+179%**. Tencent **83.79%** of 2025 sales. **Not profitable.** | [Enflame memo](/2026-enflame-912m-star-market-ipo-tencent) |

## Roundup only

### Seed Capital — €130M Fund V (Copenhagen)

[Tech.eu](https://tech.eu/2026/09/11/seed-capital-closes-eur130m-fund-v-to-expand-across-the-nordics/) (September 11): Copenhagen **Seed Capital** closed **Fund V at €130 million**. 15–17 companies; first checks **€3–6 million**; Sweden expansion; cybersecurity/resilience added to fintech and AI B2B. Named Fund V checks: **Repodo**, **Oplane**. Track-record names in the piece: Flatpay, Trustpilot, VEO, Lunar, Templafy. Christian Brøndum as managing partner; Geeta Schmidt as GP. ** Not a standalone memo this pass.

### Wittington Ventures — C$180M Fund III (Toronto)

[BetaKit](https://betakit.com/wittington-ventures-closes-third-180-million-vc-fund/) (September 10): **C$180 million** Fund III (Canadian dollars). Series A/B; climate, commerce, consumer, healthcare, food. **50%** above the **C$120 million** 2022 fund. BetaKit printed **$820 million** AUM for the platform — treat the AUM currency as **not independently restated in USD here**. LP: Wittington Investments (Weston family) plus undisclosed institutions. **No investments yet** from this vehicle; aim **15** companies at about **$10 million** apiece (BetaKit). **

- The Boring Company **$3B / $23B**, Positron **$875M / $5B**, Mach **$600M extension / $3.7B**, Maven Robotics **$100M**, Inspiren **$70M**, Luminary **$22M**, Graph AI **$13.3M** — open [PR #147](https://github.com/advissor/cf-page-venturecapitaltrackercom/pull/147).
- [Harvey](/startup/harvey) **$550M / $15.5B**, Clay **$115M / $7.1B**, Covenant **$250M lifetime** — already on [Sep 9–10](/2026-september-9-10-investment-news-harvey-clay-covenant).
- UniPat **$300M / $2.5B** — still **talks** (Bloomberg Sep 10).
- ARCHIMED MED IV **€1.5B** — healthcare **buyout PE**, not this VC tape.
- System **$20M** peptides (Patron) — below this hub’s bar.

Related: [TAR](/2026-tar-120m-series-a-1b-spark-off-grid-power) · [Pinegrove](/2026-pinegrove-1-5b-sif-xii) · [Enflame](/2026-enflame-912m-star-market-ipo-tencent) · [September hub](/2026-september-vc-news).

**By:** [Venture Capital Tracker](https://venturecapitaltracker.com/editorial-policy)
**Last updated:** September 11, 2026

**Editorial note:** AI tools assisted with research, structure, or drafting. Venture Capital Tracker retains human editorial responsibility for factual accuracy, relevance, and source quality before publication.