I Squared Capital

I Squared Capital is an independent investment firm founded in 2012, specializing in infrastructure investments within the energy, utilities, and transportation sectors. The firm primarily focuses on North America, Europe, and select high-growth economies, including India and China. I Squared Capital aims to make investments ranging from $125 million to $400 million and has established a presence in major markets with offices in New York, Miami, and other regions across North America, Europe, and Asia. The firm is dedicated to identifying and managing opportunities in infrastructure that drive sustainable growth and improve operational efficiencies.

Kunal Agarwal

Associate

Harsh Agrawal

Managing Director

Gautam Bhandari

Managing Partner

D. Mark Clark

Vice President

Mohamed El Gazzar

Managing Director

Jackson Huang

Investment Associate

Sayantan Lahiri

Operating Director

Thomas Lefebvre

Partner

Andreas Moon

Managing Director and Head of Investor Relations

Adil Rahmathulla

Founding Partner

Aman Sareen

Associate

Ronald Schweizer

Chief Financial Officer

Sadek Wahba

Chairman, Managing Partner

Mark Woodruff

Managing Director, Global Power

46 past transactions

Infofabrica Holdings Pte Ltd/Cloud Kinetics Tech Pte Ltd

Merger/Acquisition in 2020
Infofabrica Holdings Pte Ltd/Cloud Kinetics Tech Pte Ltd represents the combined operations of Infofabrica Pte. Ltd. and Cloud Kinetics Tech Pte Ltd. Infofabrica Pte. Ltd. provides information technology consulting services in cloud, virtualisation, data storage, and protection technologies. Cloud Kinetics Tech Pte Ltd offers cloud computing and consulting services. The companies are based in Singapore.

PreAct Technologies

Series B in 2023
PreAct Technologies develops ADAS and autonomous vehicle sensors and infrastructure to predict and prepare a vehicle and its occupants for an imminent crash. The company was founded in 2018 and is based in Portland, Oregon.

Pinnacle Midstream

Acquisition in 2017
Pinnacle Midstream II, LLC provides midstream services to oil and gas producers. Its services include natural gas gathering and processing, crude oil gathering and stabilization, crude oil transloading and storage services, produced water gathering and saltwater disposal wells, and product marketing and support. The company was founded in 2019 and is headquartered in Houston, Texas.

Ocensa

Secondary Market in 2020
Ocensa Colombia's crude oil transportation system.

AG&P Pratham

Private Equity Round in 2021
About AG&P City Gas: Operating under the brand of AG&P Pratham, AG&P City Gas is one of the largest private City Gas Distribution (CGD) companies in India.

Rubis Terminal

Private Equity Round in 2020
Rubis Terminal is distribution of petroleum products and bulk-liquid storage.

IC Power

Acquisition in 2018
IC Power is a fast-growing global power generation and distribution company. It engages in the ownership, development, and operation of power generation facilities in Israel, Latin America, and the Caribbean. It generates electricity through various fuels, including natural gas, hydroelectric, diesel, heavy fuel oil, and wind.

Grupo T-Solar

Merger/Acquisition in 2017
Since October 2006, the company generates clean energy with large scale renewable energy plants. Today Grupo T-Solar is present in 6 countries and has 392MW of installed capacity across 3 continents.

Tarana Wireless

Venture Round in 2022
Tarana Wireless™ has pioneered a carrier-class universal wireless transport solution that is a breakthrough innovation with deterministic True NLOS performance, ubiquitous coverage, multi-kilometer range, industry-leading spectral efficiency, unprecedented capacity and scalability, zero-touch operation, and considerably lower total cost of ownership. It has the flexibility to be deployed for a wide range of applications including small cell backhaul, last mile fiber extension, tactical mobile operations, and more. Visit www.TaranaWireless.com for additional information.

TIP Group

Merger/Acquisition in 2018
TIP specializes in trailer leasing, rental, maintenance and repair as well as other value added services and provides these to transportation and logistics customers across Europe. Headquartered in Amsterdam, TIP services its customers from over 70 locations in Europe, spread over 16 countries. With approximately 50,000 units in its fleet, TIP Trailer Services is considered an industry leader with one of the largest and most diverse fleets in Europe.

Domidep

Merger/Acquisition in 2019
Domidep SAS engages in the creation, acquisition and management of retirement homes for elderly people. It was formerly known as SA Medic Invest. Domidep SAS was incorporated in 1989 and is based in L'Isle-d'Abeau, France.

Venture Global LNG, Inc.

Private Placement in 2019
Venture Global LNG, Inc. produces and exports liquefied natural gas (LNG). The company operates interstate and intrastate natural gas pipelines; and LNG export facilities in Plaquemines Parish, Calcasieu Pass, and Cameron Parish, Southwestern Louisiana. The company was incorporated in 2013 and is based in Washington, District Of Columbia.

Inkia Energy Limited, Latin American and Caribbean businesses

Merger/Acquisition in 2017
Inkia Energy Limited, Latin American and Caribbean businesses is located in Bermuda.

Oleoducto Central S.A.

Merger/Acquisition in 2020
Oleoducto Central S.A. engages in design, build, operate, manage oil transportation system. It owns and operates pumping stations, pressure reduction system, and maritime terminal. The company was founded in 1994 and is based in Bogota, Colombia. Oleoducto Central S.A. operates as a subsidiary of Cenit S.A.S.

Three International Data Centres In Europe And Asia Of Telstra Corporation Limited

Merger/Acquisition in 2019
Three International Data Centres In Europe And Asia Of Telstra Corporation Limited comprises data centers. The asset is located in Australia.
MEP Infrastructure Developers Limited engages in the construction, operation, and maintenance of road infrastructure in India. MEP Infrastructure Developers Limited was founded in 2002 and is headquartered in Mumbai, India.

Portfolio of Elderly and Specialist Health Care Homes in South West Germany

Merger/Acquisition in 2020
Portfolio of Elderly and Specialist Health Care Homes in South West Germany comprises health care facilities. The asset is located in Germany.

WPX Energy, Inc., San Juan Basin Gathering System

Merger/Acquisition in 2015
WPX Energy, Inc., San Juan Basin Gathering System comprises oil and gas reserves and are located in the United States.

Lincoln Clean Energy

Acquisition in 2016
LCE is a developer, owner, and operator of clean power projects with a particular focus on wind and solar power in the United States. LCE has successfully developed projects involving over $2 billion in capital investment in some of the largest electricity markets in the US (including Texas, California and New Jersey). In late 2015 LCE was acquired by I Squared Capital through its $3 billion ISQ Global Infrastructure Fund. Following this transaction, LCE is now positioned to be the long term owner of the projects it develops. Building on its strong track record in project development, LCE plans to deploy in excess of $250 million of equity capital as it builds out its backlog of development projects.

Western UP Tollway

Acquisition in 2016
Western UP Tollway Limited engages in the improvement, operation, maintenance, rehabilitation, strengthening, and tolling of National Highway 58 on a build-operate-transfer basis in Uttar Pradesh. The company was incorporated in 2005 and is based in Hyderabad, India. Western UP Tollway Limited is a subsidiary of Cube Highways and Infrastructure Pte. Ltd.

Duke Energy International - Latin American Businesses

Acquisition in 2016
Duke Energy International - Latin American Businesses

Star Leasing Company

Acquisition in 2021
Star Leasing Company is a transportation company providing trailer renting services.

Kio Networks

Acquisition in 2021
Provider of information technology services intended for telecommunication companies, technology providers, financial institutions, corporates and governments. The company leverages technology to provide various services like advanced analytics, cybersecurity, cloud monitoring, cloud management and business management services, thereby enabling clients with a variety of services and efficient solutions.

Inkia Energy Ltd.

Acquisition in 2017
Inkia Energy operates and develops power generation facilities in Latin America and the Caribbean. It generates electricity through natural gas, hydroelectric resources, fuel oil, diesel, and wind. The company sells electricity to distribution companies and unregulated consumers under power purchase agreements, as well as to the spot market.

Epirus

Series C in 2022
Epirus designs and builds high-powered microwave products for the defense and commercial sectors. Epirus is a developer of software-defined electromagnetic pulse (EMP) technology designed to take down unmanned aircraft systems (UAS). The company's technology addresses threats such as drones and other asymmetric technologies, enabling the defense to stun drones with a hard reset or knock swarms out of the sky.

InfoFabrica

Acquisition in 2020
Infofabrica is an IT consulting organization that specializes in hybrid and multi clouds consulting and managed services. InfoFabrica was founded to guide customers and partners in APAC through IT Cloud transformation era. Over the past 5 years, InfoFabrica has become a leading regional hybrid cloud managed service provider and consulting partner advising customer journey to cloud, migrating to cloud and managing customer hybrid cloud environment. Whether you need consolidate your existing infrastructure, or you are designing a new data centre, they are confident you will be pleased with the results they provide. As a consulting firm, their core assest is the talent pool they have. They attract, develop, recognise and retain the best talent for their business. This is their core value. Their company is highly entrepreneurial and agile while their consultants bring a diverse and comprehensive range of skills to enable customers to achieve high performance business. Their consultants foster long-term partnerships with customers by being trusted advisor being responsive and by consistently creating and delivering value.

Pinnacle Midstream

Merger/Acquisition in 2017
Pinnacle Midstream II, LLC provides midstream services to oil and gas producers. Its services include natural gas gathering and processing, crude oil gathering and stabilization, crude oil transloading and storage services, produced water gathering and saltwater disposal wells, and product marketing and support. The company was founded in 2019 and is headquartered in Houston, Texas.

1NCE

Venture Round in 2022
1NCE GmbH provides Internet data connectivity services. It provides narrowband and low bandwidth connections for low data business to business applications. The company offers a sim card for activating, receiving, and configuring data plans. It caters to the Internet of Things market. The company was founded in 2018 and is based in Cologne, Germany.

Lincoln Clean Energy

Merger/Acquisition in 2016
LCE is a developer, owner, and operator of clean power projects with a particular focus on wind and solar power in the United States. LCE has successfully developed projects involving over $2 billion in capital investment in some of the largest electricity markets in the US (including Texas, California and New Jersey). In late 2015 LCE was acquired by I Squared Capital through its $3 billion ISQ Global Infrastructure Fund. Following this transaction, LCE is now positioned to be the long term owner of the projects it develops. Building on its strong track record in project development, LCE plans to deploy in excess of $250 million of equity capital as it builds out its backlog of development projects.

Yalla Fel Sekka

Series A in 2022
YFS is a technology platform that offers instant delivery for B2B, B2C, and C2C customers within urban communities. Our business model is both unique and scalable allowing us to serve both small/large size businesses and individual customers. Through our diverse fleet and strong operations team, we are able to instantly serve multiple verticals including groceries, pharmacies and e-commerce. Our service also allows us to act as a growth catalyst for SMBs by helping them access a booming e-commerce market with minimal investment in their logistics infrastructure.
Hutchison Global Communications Limited (HGC) is a subsidiary of Hutchison Telecommunications Hong Kong Holdings Limited (HTHKH, stock code: 0215), a well-established integrated telecommunications operator listed on the Main Board of The Stock Exchange of Hong Kong Limited. HTHKH, a member of CK Hutchison Holdings Limited, provides fixed-line services under the HGC brand and m​obile services under the 3 brand.

Viridian Group

Acquisition in 2016
Viridian has invested over €600 Million in thermal generation in the RoI and through the provision of Power Purchase Agreements (PPAs), has supported third party investments of around €600 Million in renewable generation assets throughout Ireland. Viridian Group has always been at the forefront of innovation and was the first independent energy company to enter the deregulated market to offer competitive electricity to Irish businesses in 1999.

TIP Group

Acquisition in 2018
TIP specializes in trailer leasing, rental, maintenance and repair as well as other value added services and provides these to transportation and logistics customers across Europe. Headquartered in Amsterdam, TIP services its customers from over 70 locations in Europe, spread over 16 countries. With approximately 50,000 units in its fleet, TIP Trailer Services is considered an industry leader with one of the largest and most diverse fleets in Europe.

Viridian Group Holdings Limited

Merger/Acquisition in 2016
Viridian Group Holdings Limited owns and operates gas-fired and wind energy electricity generation plants. The company is based in the United Kingdom.

ThayerMahan

Series C in 2024
ThayerMahan, Inc. operates in the technology industry. The company was incorporated in 2016 and is based in Groton, Connecticut.

Checksammy

Venture Round in 2024
CheckSammy is the next generation solution for sustainability and subscription-based bulk junk hauling services, including the collection of data. The company's proprietary technology verifies its clients' sustainability initiatives by collecting and tracking used consumer items. At the same time, it offers fixed flat rate subscription services or on-demand pricing for large-item junk removal. By utilizing third-party operators, it offers the nations lowest pricing for bulk junk removal and data generated from each property and every pickup.

ThayerMahan

Venture Round in 2023
ThayerMahan, Inc. operates in the technology industry. The company was incorporated in 2016 and is based in Groton, Connecticut.

PreAct Technologies

Series B in 2023
PreAct Technologies develops ADAS and autonomous vehicle sensors and infrastructure to predict and prepare a vehicle and its occupants for an imminent crash. The company was founded in 2018 and is based in Portland, Oregon.