Langham Capital advises Orb Energy on capital raise from Acumen Fund
June 2011
We are pleased to announce our latest transaction. Langham Capital advised Orb Energy Pte Ltd, one of India’s leading providers of off-grid solar solutions, on a capital increase from venture capital investor Acumen Fund, Inc. Langham Capital was the exclusive financial advisor to Orb Energy on this deal.
Orb Energy is a leading provider of off-grid solar systems in India, selling solar photovoltaic power (SPV) systems and solar-powered water heating equipment through its network of branches in four southern Indian states, centred in Karnataka. The company addresses the unexploited revenue growth potential provided by direct sales, installation and service through a branch network to residential and small commercial users, primarily in rural areas.
The management of Orb Energy intends to use the proceeds to expand its branch network and commercial business, to start its distribution and exports business, to scale its manufacturing, and to develop innovative products to meet the needs of its customers.
Acumen Fund invests patient capital in business models that deliver critical, affordable goods and services to the world’s poor, improving the lives of millions. Acumen Fund has been investing in India since 2001, focusing on a wide range of sustainable, scalable businesses that use market-based approaches to deliver products and services to millions of rural and urban poor.
