Participated · Series A · Apr 2026

Founded in 2023 by Kunal Mundra in partnership with Grip Invest, Astranova Mobility offers financing, leasing, asset management, and maintenance services for commercial electric vehicles. The startup has enabled financing for over 25,000 EVs across two-wheelers, cars, buses, and trucks. Astranova raised Rs 60 crore ($6.4M) in a Series A led by IvyCap Ventures to bolster its data, AI, and engineering capabilities and to scale its financing platform. It previously raised $3 million in March of the prior year from investors including AdvantEdge, Asian Development Bank, and Alteria Capital. The company plans to scale operations and support large-scale deployment of EV assets over the next 18 months.

Led · Debt Financing · Nov 2025

ReNew is a publicly listed decarbonization solutions company and independent power producer with a gross clean energy portfolio of approximately 19.2 GW (including 1.5 GW of BESS) as of February 12, 2026. Its commercial and industrial platform, ReNew Green, has 2.5 GW of committed capacity across multiple states, with over 2.0 GW commissioned and about 1.3 GW contracted under long-term agreements with customers such as Microsoft, Amazon and Google. ReNew also operates manufacturing capacity of 6.5 GW of solar modules and 2.5 GW of solar cells and is expanding its solar cell manufacturing capacity by an additional 4 GW. The company provides end-to-end clean energy solutions, value-added energy offerings through digitalization, storage, and carbon market services. ReNew is listed on Nasdaq (RNW, RNWWW) and serves a diversified customer base across sectors including automotive, chemicals, cement, textiles and technology.

Participated · Series A · Sep 2025

Nibertex develops PFAS-free waterproof and breathable textile membranes using a proprietary electrospinning (nanospinning) process designed for large-scale production. Its membranes are described as ultra-soft, silent, stretchable and engineered to integrate into textiles for apparel, healthcare, industrial and consumer applications. The company says its product can replace PFAS-based membranes without compromising performance, positioning it against global membrane players. Nibertex cites early commercial success and cost-effective manufacturing capabilities in the Philippines. Regulatory pressure and accelerating PFAS bans across the U.S., EU and Asia–Pacific are creating growing demand for its alternatives. With the new capital, it plans to expand Philippine manufacturing capacity, accelerate R&D into applications beyond apparel, and deepen partnerships with global brands. Nibertex is a deep-tech company that develops PFAS-free electrospun polyurethane (ePU) nanofiber membranes that deliver waterproofing and breathability for textiles. The company operates two state-of-the-art manufacturing plants in the Philippines and has pioneered scalable production of PFAS-free membranes to meet global demand. Nibertex reports a surge in orders from global textile brands and traction in high-value sectors such as firefighter fabrics and professional applications. The firm plans to deploy new funding to ramp production capacity, scale production lines at its second facility, and expand R&D efforts for professional textiles and emerging applications including mattresses, automotive, healthcare, and PPE. Leadership (co-founder Jaemin Park) said the funding will accelerate production to meet growing client needs across multiple industries. Nibertex was founded in 2019 and positions its technology as a sustainable alternative ahead of tightening PFAS regulations in markets like the EU, California, and New York.

Participated · Equity · Aug 2024

Fourth Partner Energy (FPEL) is a TPG-backed renewable energy developer focused on distributed generation for commercial and industrial clients in India. Its core offering is a 370 MW rooftop solar portfolio spread across 24 states, supplying marquee corporates such as HUL, Walmart, D-Mart, Ultratech, Hyundai, Colorcon and TCS. Beyond rooftops, the company has commissioned more than 1.2 GW of open-access clean-energy projects and is currently building over 800 MW of wind-solar hybrid capacity, positioning itself as an integrated green power platform. FPEL has also executed battery energy-storage systems exceeding 50 MWh to complement its generation assets. Management has set a goal of expanding its installed base to 9 GW by 2031. Financially, the firm attracted $275 million of equity earlier this year from IFC, ADB and DEG, adding to prior backing from TPG. The recently completed ₹780 crore debt refinance further optimizes its capital structure to support growth.

Participated · Debt Financing · Jul 2024

Lhoopa operates a technology platform that uses machine learning and AI to analyze listings, identify undervalued properties, and digitize bureaucratic workflows for brokers, contractors and other stakeholders. The company partners with local brokers and contractor groups rather than selling directly to end customers, providing dedicated apps for brokers and contractors to coordinate listings, work progress and payments. Lhoopa monitors around 9,000 areas across the Philippines and has sold over 2,500 affordable houses in more than 58 cities. The firm employs 95 people and works with roughly 5,000 agents and 100 contractor groups. Lhoopa plans to expand its customer base to include people without full-time employment (eg, gig workers) and aims to enter at least one other Southeast Asian country within the next 18 months. Management says the company is already profitable and will use new capital to grow real estate acquisition and construction operations.