Singapore: Prestellar Ventures backs renewable energy firm ThirdWave Power

Singapore-based venture capital fund Prestellar Ventures has committed an initial $1 million investment to solar products and Internet-of-Things company ThirdWave Power Pte. Ltd (TWP).

The fund plans to invest a total of $3 million into the Singapore-head quartered energy firm, according to an official statement.

In late July, Prestellar Ventures had raised $100 million from four general partners with plans to invest in tech-enabled startups in South Asia and ASEAN working in hospitality, consumer, financial services, and rural products and services.

Its general partners include CG Corp Global, a billion-dollar conglomerate from Nepal, India’s micro finance institution Satin Creditcare, PE firm Frontline Strategy that is an experienced investor in Indian growth capital, and N.E. Group, a family business conglomerate from Nepal.

TWP product range includes solar-powered low energy consumption lights, solar charging systems, including power banks as well as micro-grid batteries and inverters, and off-grid IOT solutions such as pay-as-you-go smart solar home systems.

Apart from a financial investment, Prestellar Ventures is also helping the company to expand into the Indian subcontinent. It will assist TWP in setting up local manufacturing and R&D facilities in India and links to on-the-ground distribution partners to sell the company’s products across the subcontinent.

”TWP is a growing company which can address a huge need in India’s burgeoning off-grid power needs by combining the power of Solar and IOT in a cost-effective manner,” said Atim Kabra, partner in Prestellar Ventures and the Founder of Frontline Strategy Ltd.

TWP plans to use the distribution reach of Prestellar Ventures’ General Partners for its expansion into Nepal.

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Singapore: Prestellar Ventures raises $100m from partners including Nepal’s CG Corp

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.