Persistent is happy to announce our follow-on investment in the Series B convertible round for our partner company candi, an innovative C&I solar developer, financier, and operator for companies in emerging markets. We firmly believe in the strong Leadership Team and have supported the growth of candi since its inception.
In 2018 Persistent provided the earliest capital as a seed investor and facilitated the rapid acceleration of the company, by providing hands-on venture building services to candi. Since then, Persistent has continuously supported candi’s growth and strategy by serving on the Board of Directors.
The successful convertible round towards its Series B, which reached oversubscription, is a confirmation of candi’s innovative business model and strategy, proven over the past years with outstanding growth in South Africa and India.
With an extensive local presence, candi has built a unique financing and operating platform to enable companies of all sizes in emerging markets to take advantage of reliable solar power for their business, generating savings in the process and mitigating climate change with renewable power sources.
We look forward to seeing candi continuing to grow and create impact in Africa and Asia, and be along with them for the journey ahead!