Capital for distributed energy assets.
We exist to accelerate Latin America's energy transition by securitizing distributed renewable assets for institutional investors.
We facilitate the financing of behind-the-meter battery storage for the middle market across the region, creating ABS from the contracts those assets serve.
Infrastructure capital needs scale. Operators need capital to reach it.
Behind-the-meter storage in Latin America is being built by small, capable companies holding long, contracted cash flows, and funding hardware with equity, because nothing else is available at their size.
Infrastructure funds, private credit, broadly syndicated loans and traditional bank loans already finance these assets, often one at a time, with large tickets in the hundreds of millions if not billions of dollars.
Middle market renewable energy operators originating smaller ticket energy contracts, who lack the size and scale for traditional funding sources.
That interval is where we work. We fund the operator's installed, contracted assets so that by the time the infrastructure conversation becomes real, there is a portfolio worth underwriting, and we are repaid out of it.
Contracted storage, already in the ground.
Commercial and industrial battery systems sitting behind a customer's meter, under a signed supply or service contract, generating metered savings from day one.
Installed and performing
Systems that are commissioned, metered and already collecting from a paying customer. We underwrite performance that has happened, not performance that is forecast.
Contracted revenue
A fixed, contractual obligation from a creditworthy commercial counterparty, not exposure to a spot market or a share of a number that moves.
Procurement, where it unlocks delivery
For operators with signed customer commitments, the stretch between ordering equipment and energising it on site, the point at which growth is most often capital-constrained.
Capital for the energy transition is concentrated in the blue-chip market.
Renewables already supply around 60% of Latin America's power, more than twice the global average, which leaves the region's grids cheap at midday and expensive at dusk. That is the condition storage exists to arbitrage. The capital funding that transition has pooled in the largest markets and the largest tickets, and has not flowed down to the small and middle market, where most operators sit.
The same report naming those flows lists what holds private capital back: high cost of capital, fragmented regulation, and weak project aggregation: too few assets packaged into something an institution can underwrite. That last one is not a market condition. It is a job, and it is ours.
We start in Chile. It has the widest daily power-price spread in the region: system prices near zero at midday against an evening peak met by gas and diesel. It also has a capacity charge that dominates commercial bills, and a mature unregulated-customer market where the savings are already visible in metered data. What works there travels: the same contract structure, the same underwriting, a different grid code.
Lend against the asset. Survive the operator.
Distributed energy has a long record of good assets inside fragile companies. Every rule below exists because someone, somewhere, learned it expensively.
The contract is the collateral
We finance a payment obligation from an end customer, assigned into a ring-fenced vehicle, with the hardware pledged alongside it.
Operator capital sits beneath ours
The operator funds a meaningful share of every asset and takes the first loss. Alignment is structural, not contractual goodwill.
Continuity is engineered in advance
A named replacement operator and escrowed dispatch software, agreed at closing, so the assets keep running and billing if the originator cannot.
Collections never touch the operator
Customer payments land in a controlled account and follow a defined waterfall. Our position does not depend on anyone's solvency to be swept.
No leverage on residuals
We do not borrow against the thinnest cash in the structure to fund our own growth. That mechanism has ended more lenders in this sector than credit losses have.
No subsidy-dependent cash flows
We underwrite savings that survive a change of policy, and size the facility to be repaid well inside the asset's contracted life.
Built in Latin American specialty finance.
We met at a large Latin American NBFI, financing trade receivables across Brazil, Chile, Colombia and Peru. We see many parallels to the nascent days of factoring and specialty finance, and a significant opportunity to use technology and private capital to close the funding gap in the small and middle market renewable energy sector.
Engineer, PUC de Chile, who started his career in fintech credit and builds the technology that underwrites it. Serial entrepreneur. Based in Chile.
Ten years of banking, capital markets and private capital experience in the United States and Latin America. Based in the United States.
If you build it, operate it, or fund it, we would like to talk.
Operators and investors
We are early, selective, and more interested in a specific situation than a general introduction. Tell us what you are building or what you are looking for.