Investments
101Portfolio Exits
35Funds
7Partners & Customers
5Service Providers
2About Frontier Growth
Frontier Growth was founded in 1999 as a growth equity firm focused on providing capital and support to technology-enabled business services companies. Frontier is focused on providing growth equity investments of $5 to $15 million.
Frontier Growth Headquarter Location
525 N Tryon St. Suite 1900
Charlotte, North Carolina, 28202,
United States
704-414-2880
Latest Frontier Growth News
Jun 20, 2022
20-06-2022 08:24:00 | by: Marlene Mutimawase | hits: 278 | Tags: Solar Frontier Capital Limited (SFC), a wholly-owned subsidiary of African Frontier Capital (Mauritius) LLC (AFC), and d.light design Inc. (d.light), a leading global innovator of solarpowered transformational products for low-income families, have jointly announced the establishment of a USD 238 million financing vehicle, Brighter Life Kenya 2 Limited (BLK2). BLK2 is an off-balance sheet financing vehicle that provides d.light with flexible working capital, enabling the company to provide consumer financing and make its products universally available and affordable for customers, most of whom live below the poverty line and lack access to reliable power. The facility will finance a range of transformative products that drive quality-of-life improvements, from solar home systems to high-efficiency appliances and smartphones. BLK2 is the largest off-balance-sheet facility in the industry thus far, and comes on the heels of d.light celebrating 125 million lives impacted globally. BLK 2has been structured to provide d.light with multi-currency financing (up to the equivalent of USD 238 million in face value of receivables) over a two-year commitment period, giving the company continued access to sustainable and affordable receivable financing for its Kenyan business with a plan to expand to other African countries in the near future. The structure is expected to directly impact over 2.8 million lives including the over 1.9 million people with improved access to clean and modern energy who, together, will reduce over 600,000 metric tons of CO2 emissions1 . BLK2 is being partially financed by a USD 62 million senior lending facility supported by U. S. International Development Finance Corporation (DFC), Norfund, responsAbility’s managed Funds, and Oikocredit. AFC acts asthe subordinated lender as well asthemasterservicer and back-up servicer under the transaction and, more generally, as sponsor of the structure. Commenting on the announcement: d.light CEO Ned Tozun said, “Establishing a large, scalable, multi-currency financing facility will enable millions of families to transform their lives through access to products that were previously out of reach. This facility paves the way for a long-term sustainable business model to bring affordable and transformative technology products to customers who are unbanked and without access to electricity.” Mark Davis, EVP Clean Energy at Norfund commented, “As a long-term equity investor in d.light, Norfund has been impressed with how the company has given millions of people access to clean energy. We are especially pleased that we through this deal are able to provide capital in local currency, to reduce borrowing costs and make it possible for d.light to give increased quality of life through solar energy to even more people.” James Todd, Head of Renewable Energy at Oikocredit: “This facility will impact the lives of millions in Kenya and we are highly confident that it will prove to be a template for even greater impact across the continent. We are thrilled to be able to support d.light’s continuous upward trajectory through the sustainable expansion of its pay-as-you-go activities” Antonia Schaeli, Deputy Head Direct Investments - Climate Finance, responsAbility: “We are pleased to be part of this innovative receivable financing structure to support d.light’s dynamic growth in Kenya and across African countries. This further reinforces responsAbility’s partnership with d.light started in 2017, providing financing towards solar-powered transformative products to retail consumers.” Eric De Moudt, founder and CEO of AFC, remarked that, “We are incredibly excited to be able to support d.light as it continues to transform so many millions of lives across Africa with such positive environmental and social impact in a financially sustainable manner.” Founded in 2006 at Stanford, d.light is a global leader in making transformative products available and affordable to low-income families. Most of the customers we serve don’t have access to financing or reliable power, and d.light removes those barriers. We enabling financing with our "Pay As You Go" technology and we enable reliable power through our solar energy solutions. d.light has sold over 25 million products including solar lanterns, solar home systems, TVs, radios and smartphones, impacting the lives of over 125 million people. Our vision is to transform the lives of 1 billion people with sustainable products by 2030. [Column] Sergio Pugliese: Opportunities created by Angola’s energy transition Angola’s energy transition continues to power the country’s grid and cultivate socioeconomic opportunities ... read full column here [Column] Anthony Osijo: How to sustainably finance renewable energy industry There are clearly multiple hurdles at play when considering how best to solve the major global problem of energy poverty ... read full column here [Column] Verner Ayukegba: Angola targets 60% electrification by 2025 driven by renewables Angola is uniquely positioned to expand the role of its already strong hydropower sector ... read full column here INTERVIEWS. [Interview] Janek Winand, Managing Director, Siemens Gamesa, South Africa Janek Winand is the Managing Director of Siemens Gamesa South Africa , a leader in the renewable energy industry, working to provide the world's best offshore and onshore wind turbines and services ... read full interview here [Interview] Sidney Zeeman, Sales and Business Development Manager, Independent Energy BV Independent Energy BV is a company that designs, manufactures and install on- and off-grid solar and backup solutions worldwide from small house-size systems to large complete “plug and play” installations ... read full interview here
Frontier Growth Investments
101 Investments
Frontier Growth has made 101 investments. Their latest investment was in SupplyPike as part of their Series B on July 7, 2022.
Frontier Growth Investments Activity
Date | Round | Company | Amount | New? | Co-Investors | Sources |
---|---|---|---|---|---|---|
7/18/2022 | Series B | SupplyPike | $25M | Yes | 4 | |
3/9/2022 | Series A | Instant Teams | $13M | Yes | 2 | |
3/8/2022 | Series B | Wealthbox | $31M | Yes | 8 | |
12/21/2021 | Series A | |||||
12/6/2021 | Growth Equity - II |
Date | 7/18/2022 | 3/9/2022 | 3/8/2022 | 12/21/2021 | 12/6/2021 |
---|---|---|---|---|---|
Round | Series B | Series A | Series B | Series A | Growth Equity - II |
Company | SupplyPike | Instant Teams | Wealthbox | ||
Amount | $25M | $13M | $31M | ||
New? | Yes | Yes | Yes | ||
Co-Investors | |||||
Sources | 4 | 2 | 8 |
Frontier Growth Portfolio Exits
35 Portfolio Exits
Frontier Growth has 35 portfolio exits. Their latest portfolio exit was talentReef on August 10, 2022.
Date | Exit | Companies | Valuation Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. | Acquirer | Sources |
---|---|---|---|---|---|
8/10/2022 | Acquired | 1 | |||
8/26/2021 | Acquired | 2 | |||
8/2/2021 | Acquired | 2 | |||
Date | 8/10/2022 | 8/26/2021 | 8/2/2021 | ||
---|---|---|---|---|---|
Exit | Acquired | Acquired | Acquired | ||
Companies | |||||
Valuation | |||||
Acquirer | |||||
Sources | 1 | 2 | 2 |
Frontier Growth Acquisitions
4 Acquisitions
Frontier Growth acquired 4 companies. Their latest acquisition was ListenFirst Media on September 05, 2018.
Date | Investment Stage | Companies | Valuation Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. | Total Funding | Note | Sources |
---|---|---|---|---|---|---|
9/5/2018 | Acq - Fin | 2 | ||||
1/5/2017 | Debt | |||||
4/2/2015 | ||||||
2/14/2012 | Private Equity |
Date | 9/5/2018 | 1/5/2017 | 4/2/2015 | 2/14/2012 |
---|---|---|---|---|
Investment Stage | Debt | Private Equity | ||
Companies | ||||
Valuation | ||||
Total Funding | ||||
Note | Acq - Fin | |||
Sources | 2 |
Frontier Growth Fund History
7 Fund Histories
Frontier Growth has 7 funds, including Frontier Fund V.
Closing Date | Fund | Fund Type | Status | Amount | Sources |
---|---|---|---|---|---|
12/6/2017 | Frontier Fund V | Diversified Private Equity | Closed | $700M | 5 |
3/3/2015 | Frontier Fund IV | ||||
6/18/2012 | Frontier Fund III | ||||
3/5/2008 | Frontier Fund II | ||||
7/31/1999 | Frontier Fund I LP |
Closing Date | 12/6/2017 | 3/3/2015 | 6/18/2012 | 3/5/2008 | 7/31/1999 |
---|---|---|---|---|---|
Fund | Frontier Fund V | Frontier Fund IV | Frontier Fund III | Frontier Fund II | Frontier Fund I LP |
Fund Type | Diversified Private Equity | ||||
Status | Closed | ||||
Amount | $700M | ||||
Sources | 5 |
Frontier Growth Partners & Customers
5 Partners and customers
Frontier Growth has 5 strategic partners and customers. Frontier Growth recently partnered with GovQA on July 7, 2019.
Date | Type | Business Partner | Country | News Snippet | Sources |
---|---|---|---|---|---|
7/9/2019 | Partner | United States | 1 | ||
10/31/2018 | Partner | ||||
10/9/2018 | Partner | ||||
1/17/2018 | Partner | ||||
1/9/2018 | Partner |
Date | 7/9/2019 | 10/31/2018 | 10/9/2018 | 1/17/2018 | 1/9/2018 |
---|---|---|---|---|---|
Type | Partner | Partner | Partner | Partner | Partner |
Business Partner | |||||
Country | United States | ||||
News Snippet | |||||
Sources | 1 |
Frontier Growth Service Providers
2 Service Providers
Frontier Growth has 2 service provider relationships
Service Provider | Associated Rounds | Provider Type | Service Type |
---|---|---|---|
Counsel | |||
Service Provider | ||
---|---|---|
Associated Rounds | ||
Provider Type | Counsel | |
Service Type |
Partnership data by VentureSource
Frontier Growth Team
7 Team Members
Frontier Growth has 7 team members, including current Chief Financial Officer, Lori Shell.
Name | Work History | Title | Status |
---|---|---|---|
Rahul R. Vaid | Founder | Current | |
Peter L. Venetis | Founder | Current | |
Lori Shell | Chief Financial Officer | Current | |
Andrew Lindner | Founding Partner | Current | |
David Gray | Managing Partner | Current |
Name | Rahul R. Vaid | Peter L. Venetis | Lori Shell | Andrew Lindner | David Gray |
---|---|---|---|---|---|
Work History | |||||
Title | Founder | Founder | Chief Financial Officer | Founding Partner | Managing Partner |
Status | Current | Current | Current | Current | Current |
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