Biocarbon Firm Soler Said to Chase Unicorn Status with Fundraise

Soler is seeking to raise about €300 million ($322 million) through a private funding round this summer that would lift the French charcoal producer’s value to roughly €1 billion, people with knowledge of the matter said.

The Soler family and management, which own the business in full, are seeking to retain 70% of the company after fundraising, according to the people, who asked not to be identified discussing confidential information.

Deliberations are ongoing and no final decisions on the size or timing of any fundraising have been taken, they said.

Soler was launched in eastern France in the 1990s by ...