John Doerr’s family office Foris Ventures anchors SunPower’s $26.2 private placement

SunPower Inc. (Nasdaq: SPWR), a solar technology, services and installation company headquartered in Orem, Utah, has raised $26.2 million in an equity private placement. According to the company, the majority of the funding came from venture investors based on Sand Hill Road in Silicon Valley. The round was anchored by Foris Ventures, the family office of John Doerr, Chairman of Kleiner Perkins. SunPower said the capital will be used to support its growth plans as it works toward a return to profitability. CEO T.J. Rodgers stated that the company currently generates about $300 million in annual revenue and targets roughly $500 million next year. He attributed the recent decline in the share price to the broader solar market reset following the loss of the Investment Tax Credit and to execution issues in the SunPower Direct division in the second quarter of 2026. The current SunPower Inc. is the former Complete Solaria, which acquired the SunPower brand and parts of the business out of Chapter 11 bankruptcy for $45 million in September 2024 and adopted the SunPower name in April 2025. Foris Ventures had previously invested $10 million in Complete Solaria in February 2023.

About Foris Ventures: The John Doerr family office

Foris Ventures, LLC is the private investment vehicle of venture capitalist John Doerr, based in San Carlos, California. Doerr joined Kleiner Perkins in 1980, serves as its Chairman and is known for early investments in companies such as Google and Amazon. He sits on the boards of Alphabet, Coursera and DoorDash and previously served as a director of Amazon, Bloom Energy and QuantumScape. Foris is owned through the Vallejo Ventures Trust, of which John and Ann Doerr are trustees. Its clean energy portfolio includes Antora Energy, Panthalassa, Pacific Fusion and Rondo Energy. John and Ann Doerr also support Khan Academy and the Climate Reality Project through their foundation.

Picture Source: Unsplash+

Article Source: SolarQuarter, 06.09.2026