Participated · Equity · Jun 2026

Founded in 2016, Innovafeed develops technology to rear and transform the Black Soldier Fly (Hermetia illucens) at industrial scale to produce protein and oil ingredients for animal and plant nutrition. Its proprietary, sensor-driven and partially robotic production process and wet transformation method aim to optimise breeding conditions and product digestibility. The company says its Nesle production unit is fully operational and has produced over 15,000 tons of protein and oil in three years while increasing volumes tenfold and cutting production costs by seven. Innovafeed plans to prioritise commercial deployment of its Hilucia™ product ranges—particularly in functional segments of aquaculture and pet food—while redirecting investment toward industrial equipment, applications development, and operational excellence. As part of this new phase the company is reorganising activities around Nesle, integrating R&D from Gouzeaucourt and planning a workforce reduction tied to that integration. Innovafeed reports strong commercial traction with revenues doubling annually and emphasizes the environmental benefits of its circular industrial model.

Participated · Series B · May 2026

Founded in 2005, Iceotope develops chassis-based precision liquid cooling systems that replace traditional air cooling to improve efficiency and reduce energy and water usage in data centres, AI infrastructure, HPC, and edge environments. Its technology is purpose-built for demanding cooling constraints across core data centers and distributed edge deployments. The company holds more than 200 granted and pending patents covering its liquid cooling approach. Iceotope plans to scale product and engineering efforts, expand its patent portfolio, and grow ecosystem partnerships following its recent fundraise. Financially, the company secured a $26 million Series B to support these initiatives; the article does not disclose revenue or other operating metrics.

Participated · Equity · Apr 2026

Founded in July 2020 by Baidu and the Lionbridge Group, DeepWay designs and manufactures electric heavy trucks built from the ground up for autonomous operation. The company received Baidu’s license to use and build on Apollo open-source self-driving technology and combines that with Lionbridge’s logistics experience and data. DeepWay says it has realized mass production and delivery of intelligent electric trucks and generates operational planning and control data from deployed vehicles to train and improve its driver-assistance and autonomous systems. It follows a three-step strategy: electrification and scaling (vehicle sales and data generation), deployment of intelligence (mass-produced L2 assistance sold via subscription and series-produced L4 convoy systems operating in regions such as Inner Mongolia and Xinjiang), and building a global unmanned freight network with partnerships in six core overseas markets. The company has attracted a wide mix of investors—including provincial and municipal state funds, industrial corporate capital, top VCs, and recent overseas investors—to support commercialization and international expansion. DeepWay filed for a Hong Kong IPO in November 2025 and used the latest Pre-IPO financing (over $310 million) to accelerate self-driving R&D and global commercial rollout.

Participated · Equity · Aug 2025

Vistaar Finance (Vistaar Financial Services Pvt. Ltd) provides capital access to micro, small, and medium enterprises (MSMEs). Founded in 2010 by Brahmanand Hegde and Ramakrishna Nishtala, the company operates across 12 states with more than 250 branches and has assets under management of over ₹5,000 crore. The company said the latest investment will allow it to deepen its grassroots presence, drive customer‑centric innovation, diversify products, and strengthen brand positioning. Vistaar reported revenues of ₹684.7 crore in 2023‑24, up 29.4% year‑on‑year, and net profit of ₹147.1 crore, up 47.1%. Until Warburg Pincus's 2023 majority acquisition, Vistaar had raised close to $117 million across multiple rounds and was valued at around $280 million, according to Tracxn. Avendus Capital acted as the exclusive financial advisor to Vistaar and its shareholders on the transaction. Vistaar focuses on providing long-term secured loans to traditionally underserved MSMEs across India. Since its founding in 2010, the firm says it has enabled financing for over 250,000 MSMEs across 12 states. As of March 2024 Vistaar reported an AUM of approximately INR 4,154 crore and a workforce of over 2,500 employees. The company positions itself as a catalyst for expanding productive capacity and incomes among small businesses, with particular attention to women-led enterprises. Vistaar highlights the large national MSME financing gap as a market opportunity and a rationale for scaling its lending. Recent capital inflows are being directed toward deepening presence in rural markets and increasing lending to women-owned and -led firms. Vistaar Financial Services, founded in April 2010 and headquartered in Bangalore, offers cash flow–based credit assessment and lending to micro, small and medium enterprises (MSMEs), assessing economic activity when conventional income documents are absent. As of January 31, 2014, the firm operated about 74 branches across Karnataka, Tamil Nadu, Maharashtra and Gujarat, serving roughly 23,600 borrowers. Its loan portfolio stood at Rs 207.1 crore at that date. Vistaar says it has built a unique credit methodology focused on cash-flow assessment of MSMEs. The company plans to use fresh funding to expand its branch network to over 250 centres over the next four years and target a portfolio of more than Rs 2,500 crore. Prior equity funding totaled around $13 million across two rounds in 2010–12.

Led · Series G · Sep 2024

Aye Finance is a Gurugram-based non-banking financial company. The company has raised about $30 million (Rs 250 crore) in a Series G round. The Series G was led by Singapore’s ABC Impact. ABC Impact is an investor backed by Temasek and Temasek Trust. The article does not disclose other investors, terms or operating metrics. The report appeared as part of coverage of India deals totaling $363 million. Aye Finance is an Indian non‑banking finance company and microfinance lender focused on providing business loans to MSMEs. The company recently closed a EUR 15 million debt transaction with Invest in Visions GmbH. The deal was announced as a debt fund transaction facilitated in collaboration with Agents For Impact. Articles report the amount as roughly INR 137 crore and say the funding will support lending expansion. Coverage positions Aye Finance as one of the leading MFI/NBFC players in India. No operating metrics (revenue or user counts) were disclosed in the sourced articles. Aye Finance operates a digital lending platform that provides mortgage, hypothecation and term credit to underserved micro enterprises, with an average ticket size of $1,800. The company uses in-house technology and analytics to underwrite and deliver financial solutions tailored to small businesses. To date it has disbursed more than $959 million of credit to over 700,000 unorganized businesses and reports over $959 million of assets under management. Aye has a nationwide footprint across 22 states through 395 offices. Financially, revenue grew 45% to $77.10 million in FY2023 from $53.12 million the prior year, and it delivered $9.59 million of profit after tax in the first six months of FY2024. The company plans to go public in the financial year 2026. Aye Finance is an Alphabet-backed, new-age non-banking finance company that provides credit solutions to small retailers. Last month it launched an on-tap BNPL product called SwitchPe to offer credit lines for procurement of supplies. The company says it will use a recently awarded grant to address working-capital challenges faced by kirana stores and expand SwitchPe’s reach. Through the grant Aye will leverage Unilever’s FMCG expertise to make SwitchPe available to a larger number of grocery-store owners, including women. The article frames the effort against the backdrop that kirana stores account for approximately 88% of India’s retail sector. Aye’s collaboration is via TRANSFORM, which combines grant funding, business insight and wider resources for entrepreneurs. Aye Finance focuses on providing customized business loans to the excluded microenterprise segment, using a proprietary cluster-based credit assessment methodology combined with AI to assess credit risk without traditional documentation. Founded in 2014, the lender says it has addressed the credit needs of over 450,000 unorganized grassroots businesses. The company plans to deploy additional capital to support growth and enable inclusion of microenterprises into the formal economy. Management reports a surge in credit applications as businesses rebuild after pandemic disruptions. The current financing is intended to expand lending capacity to meet this increased demand. Aye emphasizes affordable pricing and tailored products for small entrepreneurs.