Participated · Series C · Aug 2026

Founded in Medellín in 2011, Erco has built a comprehensive clean-energy ecosystem spanning solar generation, storage, electric mobility, asset management, digital energy trading, electrification and energy efficiency. The company has delivered over 2,600 projects and operates more than 450 MWp of installed capacity, principally in Colombia. Erco is a partner on large-scale developments such as the roughly 400 MWp Andes solar project being developed with EPM. Financially, Erco completed a $129 million Series C equity round in 2026, described as one of the largest Colombian equity rounds of the year, with Axon Partners Group among its main backers. The company intends to use the proceeds to continue expanding its portfolio and advance its role in the region’s energy transition.

Participated · Debt Financing · Aug 2025

Founded in 2010, Clean Max Enviro Energy Solutions (CleanMax) develops, owns and operates renewable energy assets that serve commercial and industrial clients across sectors such as data centres, cement, steel, FMCG and real estate. The company delivers power through long-term supply agreements, offers EPC as well as operations and maintenance services for on-site and farm-based solar, wind and hybrid plants, and provides carbon credit and broader net-zero advisory solutions. According to a CRISIL report, CleanMax had 2.80 GW of operational, owned and managed capacity and 3.17 GW of contracted capacity under execution as of 31 October 2025. For FY25, the company recorded ₹1,496 crore in operating revenue, up 8 % year-on-year, while EBITDA rose 37 % to ₹1,015 crore, demonstrating improving operating leverage. Management is positioning the business to capitalise on growing corporate decarbonisation mandates and expects the upcoming IPO proceeds to fund further capacity expansion. The diversified customer base and service suite underpin CleanMax’s strategy to remain a leading integrated renewable partner for Indian enterprises.