Rising interconnection queues and grid modernization demands are attracting growth capital to simulation software.

General Atlantic has taken a stake in PowerGEM, a provider of advanced simulation and technical services to the North American power industry, through its BeyondNetZero climate fund.

Existing backer TA Associates remains an investor, and the transaction includes PowerGEM’s concurrent acquisition of Telos Energy.

Founded more than 25 years ago, PowerGEM supplies software and services used by every U.S. power system operator, as well as major utilities, developers, consultants, traders, and power producers.

The company’s tools support operational decision-making and long-term transmission planning, with AI increasingly embedded in forecasting, scenario analysis, and risk management.

The Telos Energy acquisition adds engineering expertise in complex power system analysis, integrated re.

General Atlantic intends for the combined investment and acquisition to support expanded AI-enabled capabilities, tighter integration of grid reliability and market economics, and bolt-on acquisitions as clients face accelerating interconnection workloads.

Lazard served as financial advisor to PowerGEM and TA Associates, and Goodwin Procter provided legal counsel to the company and TA.

Paul, Weiss, Rifkind, Wharton & Garrison LLP advised General Atlantic.