Foss & Company
Foss & Company is a San Francisco-based tax credit syndication firm founded in 1983 that structures and manages tax-advantaged investments — historic preservation, solar, battery storage, carbon capture, and LIHTC — connecting institutional investors with qualifying project developers across all 50 US states.
- Company typePrivate
- Founded1983
- HeadquartersSan Francisco, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Foss & Company does
Foss & Company is a San Francisco-based tax credit syndication firm founded in 1983 that structures and manages tax-advantaged investments on behalf of institutional investors and corporate taxpayers. The firm connects insurance companies, banks, financial institutions, and Fortune 500 corporations seeking low-risk returns and federal or state tax liability reduction with developers of qualifying projects across multiple tax credit programs — historic preservation, solar, wind, battery storage, carbon capture (Section 45Q), low-income housing, and Section 48 renewable energy. Revenue is generated through three primary streams: origination and syndication fees on funds and one-off placements, recurring asset management and investor reporting fees on managed investments, and transaction-based brokerage fees on transferable tax credit deals under IRA-era rules.
Foss's operating model combines proprietary fund structures (the "Foss Funds") with direct placements to institutional investors, supported by in-house underwriting, construction engineering, and asset management teams. The firm has deployed over $11 billion in equity and manages more than $3 billion in tax credits across all 50 US states. Securities are offered through Orchard Securities LLC (FINRA/SIPC). The platform covers the full lifecycle — sourcing and qualifying developer projects, negotiating tax equity terms, coordinating co-investors and lenders, and providing ongoing compliance and investor reporting.
Recent strategic activity demonstrates a deliberate expansion into adjacent asset classes and geographies. The firm closed a $30 million microgrid investment with AlphaStruxure in 2026 (its first microgrid transaction), an $86 million battery storage tax credit transfer for GridStor in 2025, and follow-on solar-plus-storage deals with Altus Power across California, Maryland, and New York. The firm has simultaneously expanded its Energy & Infrastructure team through multiple senior hires and has built out a transferable tax credit brokerage capability enabled by the Inflation Reduction Act.
Foss & Company firmographics
Firmographics- Name
- Foss & Company
- Legal name
- Foss & Company
- Website
- https://fossandco.com
- Company type
- Private
- Founded year
- 1983
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Foss & Company is a San Francisco-based tax credit syndication firm founded in 1983 that structures and manages tax-advantaged investments — historic preservation, solar, battery storage, carbon capture, and LIHTC — connecting institutional investors with qualifying project developers across all 50 US states.
- Ownership category
- akta.pro rank
Foss & Company industry classification
Industry- Product category
- Tax Credit Investment Syndication
- NAICS
- Funds, Trusts, and Other Financial Vehicles (525)
- SIC
- Security Brokers, Dealers & Flotation Companies (6211)
- akta.pro primary industry
- Energy & Power Infrastructure Funds (Generation, Transmission, Storage) (FSANAEAB)
- akta.pro secondary industry
- Tax-Aware Investment Planning (FSAEAAAE)
Keywords
Where Foss & Company is headquartered
LocationHeadquarters
- HQ city
- San Francisco
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Foss & Company business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others
Revenue model
- Tax Credit Syndication Fees: Foss & Company earns fees for syndicating tax credit investments to institutional investors. The company forms proprietary funds for investing in projects that qualify for specified state and federal tax credits.
- Asset Management Fees: The firm provides ongoing asset management and investor reporting services, generating recurring fees from managed funds and investments.
- Tax Credit Transfer Brokerage: Facilitates transfer of tax credits between generators and buyers, earning transaction-based fees.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Institutional investor tax credit investments |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels4 records
Foss & Company product offering
Product offeringCore offering
Foss & Company structures, syndicates, and manages tax credit investments on behalf of institutional investors and project developers. The firm forms proprietary funds and executes one-off placements across federal and state programs including historic preservation, solar, wind, battery storage, carbon capture (Section 45Q), and low-income housing tax credits, while delivering ongoing asset management and investor reporting.
Product overview
Foss & Company is a tax credit syndication firm offering a comprehensive suite of investment programs rather than a unified software platform. The company's product portfolio consists of specialized tax credit investment programs including Historic Preservation Tax Credits, Clean Energy Tax Credits (covering solar, wind, battery storage, and carbon capture), Transferable Tax Credits, Battery Energy Credits, Low-Income Housing Tax Credits, and Carbon Capture Tax Credits under Section 45Q. Additionally, the firm provides Debt Capital services for project-level financing and pursues an Impact Investing approach aligned with ESG objectives. These programs are managed through proprietary funds and one-off placements, with full-service support spanning underwriting, asset management, and investor reporting.
Differentiator
Problem solved
Functional benefit
Products and services
- Historic Preservation Tax Credits Federal and state historic rehabilitation tax credit investments for institutional investors, channeling capital toward rehabilitation of certified historic buildings while generating risk-adjusted returns.
- Clean Energy Tax Credits Investment programs covering solar, wind, battery storage, and carbon capture technologies, providing institutional investor access to large-scale renewable energy projects that deliver environmental impact alongside tax-adjusted returns.
- Transferable Tax Credits End-to-end management of transferable tax credit transactions, including developer qualification, partner coordination, and ongoing management for historic preservation, clean energy, and carbon capture projects.
- Battery Energy Credits Tax credit investments in standalone battery energy storage systems, supporting grid stability and renewable energy transition through energy storage infrastructure.
- Low-Income Housing Tax Credits Federal tax credit program supporting affordable housing development, channeling institutional capital toward projects that address housing needs in underserved communities.
- Carbon Capture Tax Credits (Section 45Q) Tax credit investments in carbon capture and sequestration projects, incentivizing reduction of greenhouse gas emissions through technologies that capture, transport, and permanently store CO2.
- Debt Capital Services Project-level debt sourcing and placement services for Foss developer clients, working alongside tax equity investments to complete project capital stacks.
- Impact Investing ESG-aligned investment approach directing institutional capital toward projects delivering social, environmental, and economic benefits while generating tax benefits and risk-adjusted returns.
Quantifiable outcome
- Over $11 billion in equity raised for investors
- +3 more outcomes
Companies that use Foss & Company
Customer profileNamed customers4 records
Segments3 records
Ideal customer profiles2 records
Foss & Company technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Foss & Company partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core and minor.
- AlphaStruxurecoreFoss & Company invested approximately $30 million in a microgrid project in Montgomery County, Maryland through partnership with AlphaStruxure under Section 48 tax equity. The advanced energy system integrates solar photovoltaic generation with battery storage to power a transit facility serving an electric bus fleet. Commercial operations expected August 2026, generating over 6,000 MWh of clean energy annually. This marks Foss & Company's entry into microgrid technology and first partnership with AlphaStruxure.
- Altus PowercoreProject London II - tax equity investment supporting a distributed solar-plus-storage portfolio developed by Altus Power across California, Maryland, and New York. Transaction marks second partnership following successful closing of Project London I in 2025. Includes five assets contributing to distributed clean energy infrastructure expansion in key U.S. markets.
- GridStorcoreSuccessful $86 million tax credit transfer for GridStor's Hidden Lakes Battery Storage Project in Texas. The project involves a 220 MW / 440 MWh battery energy storage system intended to provide power during peak demand.
- Tower on the Maumee (Toledo)minorFoss & Company serving as federal and Ohio state historic tax equity investor for Phase II of Tower on the Maumee redevelopment in Toledo, Ohio. Project will transform historic tower into mixed-use development with apartments and office spaces. Tax credits expected to generate $7.4 million in 2026.
Scale indicators7 records
Recent moves6 records
Expansion highlights6 records
Foss & Company competitors and assessment
Company assessmentDirect peers
- National Equity Fund: A national LIHTC syndicator with a strong institutional investor base and developer relationships. Closely comparable to Foss's fund-sponsor business in affordable housing tax credit syndications.
- Raymond James Tax Credit Funds: One of the largest tax credit syndication platforms in the U.S., syndicating federal and state LIHTC, HTC, and renewable energy credits to institutional investors. Directly comparable to Foss's fund-sponsor model with overlapping institutional client base and similar product menu.
- Enterprise Community Investment: A major LIHTC and tax credit syndicator affiliated with Enterprise Community Partners. Competes with Foss for institutional capital allocation and developer relationships in affordable housing and community development tax credit syndications.
Broad incumbents
- Bank of America Community Development Banking: Provides tax credit equity (LIHTC, HTC, NMTC) and debt capital for community and clean energy development. Comparable in serving developer clients with tax equity needs but as part of a much broader commercial bank.
- PNC Real Estate: PNC's tax credit investing group syndicates LIHTC and historic tax credits to corporate and insurance investors. Overlaps with Foss's institutional investor targeting and historic preservation platform, with a larger parent balance sheet.
- JPMorgan Chase Community Development: Underwrites and invests LIHTC, HTC, NMTC and renewable tax credit transactions as part of the bank's broader community development lending business. Competes with Foss for both developer capital stack needs and institutional investor deployment.
- US Bancorp Impact Finance: A division of U.S. Bancorp that invests in tax credit-financed projects (LIHTC, HTC, NMTC, renewable). Offers a broader balance-sheet-backed platform than Foss and competes for the same developer and institutional investor relationships.
- Citibank Community Capital: Citigroup's community development arm invests in LIHTC and historic tax credit transactions and provides debt and equity capital to developers. Comparable to Foss's institutional investor model but embedded within a global bank.
Emerging players
- Radian: Radian's tax credit business provides LIHTC syndication and asset management. Comparable in scale and focus to Foss's affordable housing platform, with overlapping institutional investor channels.
- Chester Energy and Policy: A boutique policy and advisory firm focused on renewable energy tax credits and IRA transferability strategy. Emerging participant in the same renewable tax credit ecosystem where Foss structures institutional investments.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Foss & Company social profiles
Digital presenceFoss & Company financial estimates
Financial estimateRevenue estimate
Valuation estimate
Foss & Company leadership team
Management profileNumber of profiles
Profiles6 records
Foss & Company funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Foss & Company M&A and investment
M&A and investmentM&A
Investments9 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Foss & Company
What does Foss & Company do?
Foss & Company structures, syndicates, and manages tax credit investments on behalf of institutional investors and project developers. The firm forms proprietary funds and executes one-off placements across federal and state programs including historic preservation, solar, wind, battery storage, carbon capture (Section 45Q), and low-income housing tax credits, while delivering ongoing asset management and investor reporting.
Is Foss & Company a public or private company?
Foss & Company is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Foss & Company founded?
Foss & Company was founded in 1983. It employs 11 to 50 people.
Where is Foss & Company based?
Foss & Company is headquartered in San Francisco, United States, in the North America region.
How does Foss & Company make money?
Three revenue lines are on record. Tax Credit Syndication Fees are the primary driver. The others are asset Management Fees and tax Credit Transfer Brokerage.
Who are Foss & Company's main competitors?
Direct peers on record are National Equity Fund, Raymond James Tax Credit Funds and Enterprise Community Investment. Broad incumbents are Bank of America Community Development Banking, PNC Real Estate, JPMorgan Chase Community Development, US Bancorp Impact Finance and Citibank Community Capital. Emerging players are Radian and Chester Energy and Policy.
Does Foss & Company have an API?
No public API is recorded for Foss & Company.
What industry is Foss & Company in?
Foss & Company's product category is Tax Credit Investment Syndication. Its primary akta.pro industry code is FSANAEAB, Energy & Power Infrastructure Funds (Generation, Transmission, Storage), with a secondary code of FSAEAAAE, Tax-Aware Investment Planning. Its NAICS code is 525 and its SIC code is 6211.