LetterOne is a privately owned investment vehicle established in 2013 and based in Luxembourg. It focuses on making value-driven investments primarily in the Energy and Technology sectors through its business units, L1 Energy and LetterOne Technology. The company manages a substantial portfolio of assets, which includes significant investments in telecoms, credit, and equity securities. LetterOne aims for large-scale investments exceeding $1 billion and seeks to enhance value through operational excellence, strategic input, and capital provision, particularly in turnaround situations involving distressed assets. The firm actively participates in management and board-level roles to influence performance, strategy, and business development. Its investment approach does not adhere to fixed time horizons, with returns generated through dividend income and capital gains from asset disposals.
Devonshire House, One Mayfair Place, London W1J 8AJ, UK / Luxembourg
Edmund Packard
Managing Director, Funds
6 past transactions
Tigo Energy
Convertible Note in 2023
Tigo Energy, Inc. specializes in developing module-level power electronics and module optimizer technology for the solar industry. The company offers solar optimizers and comprehensive software solutions that include module-level monitoring for utility, commercial, and residential photovoltaic (PV) arrays, as well as a mobile application for solar management. Tigo Energy also provides communication solutions, such as gateways and a Maximizer Management Unit, which facilitate communication between optimizers and inverters. Its products cater to a diverse range of markets, including residential, commercial, utility, third-party finance, schools, and government sectors, and are distributed through various channels. Founded in 2007 and headquartered in Campbell, California, with an additional office in Tuscany, Italy, Tigo Energy operates globally across the United States, Europe, Japan, China, Australia, Brazil, and the Middle East. The company's focus is on enhancing safety, increasing energy yield, and reducing operating costs, ultimately improving the efficiency and reliability of solar installations.
H2scan
Venture Round in 2022
H2scan Corporation, based in Valencia, California, specializes in manufacturing and selling hydrogen leak detection and process gas measurement products for industrial markets globally. Established in 2002, the company offers several product lines, including HY-OPTIMA, which features real-time in-line portable hydrogen monitors for process optimization, and HY-ALERTA, which includes portable hydrogen leak detectors and fixed area monitors designed for safety in environments with potential hydrogen leaks. H2scan's solutions cater to various industries, such as electric power, petroleum, nuclear power, semiconductor, and chemical production. The company leverages hydrogen sensing technology for integration into customer products and maintains a distribution network across North America, Asia, Europe, South America, the Middle East, Australia, and Africa. H2scan has developed its technology with foundational support from the U.S. National Laboratory at Sandia and has established strategic partnerships to enhance its market presence.
Plastic Energy
Venture Round in 2021
Plastic Energy is a company focused on addressing plastic pollution by converting unrecyclable plastic waste into valuable resources. It specializes in recycling services that transform end-of-life plastics into new feedstock for producing clean recycled plastics or alternative low-carbon fuels. By providing these solutions, Plastic Energy aims to offer a sustainable approach to plastic waste management, helping clients reduce environmental impact while benefiting from the repurposing of materials that would otherwise contribute to pollution. The company's operations primarily target markets in the United Kingdom and extend globally, emphasizing the importance of innovative recycling methods in mitigating plastic waste.
Qvantel
Venture Round in 2016
Qvantel specializes in developing cloud-based business support system (BSS) software tailored for telecom operators. The company offers a no-code, cloud-native platform that simplifies customer, product, and revenue management, including billing and financial management. By providing comprehensive tools, Qvantel enables communication service providers (CSPs) to effectively manage the entire customer lifecycle, attract and engage customers, and innovate their service offerings. This approach supports CSPs in their transition to becoming digital-first companies, ensuring they can adapt to evolving market demands and manage their revenue streams efficiently.
Uber
Private Equity Round in 2016
Uber Technologies, Inc., established in 2009, is a global technology company that connects users with transportation and logistics services through its mobile application. It operates in over 300 cities worldwide, offering a range of services including ridesharing, food delivery, and freight transportation. Uber's core business is facilitating transportation by matching riders with drivers, providing safe, reliable, and convenient options at varying price points. Additionally, Uber Advanced Technologies Group, a subsidiary, focuses on developing self-driving car technology to enhance transportation safety and accessibility.
FreedomPop
Series C in 2016
FreedomPop is a telecommunications company established in 2011, focused on providing free wireless internet and mobile phone services globally. It aims to bridge the digital divide by offering high-speed internet access and mobile services without cost. FreedomPop's offerings include free international calling and texting, allowing users to communicate and access the internet without incurring charges. By delivering these disruptive mobile services, the company seeks to ensure that everyone, regardless of their location or financial situation, can benefit from essential connectivity.
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