Laxmi Capital proudly announces a significant milestone in its ongoing commitment to sustainable energy initiatives with the establishment of the Laxmi Sustainable Energy Fund (LSEF) and the commencement of its first strategic investment in Unitech Hydropower Company Limited.
Unitech Hydropower Company Ltd. is constructing the Upper Phawa Khola Hydroelectric Project. The project is in the final stage of completion. The project has an installed capacity of 5.8 MW and is located in Taplejung District. Additionally, it has another hydropower project license for 15 MW (the Middle Ingwa Khola Hydropower Project).
Laxmi Capital is one of the first few companies to have received a fund manager’s license to operate a private equity and venture capital (PEVC) fund under the Specialized Investment Fund Regulation, 2075. LSEF is the first private equity fund of Laxmi Capital. The fund size of LSEF is NPR 1 billion. LSEF was launched with the intention of delivering an impact on society while generating returns comparable to the market. Laxmi Capital is one of the first merchant banks to have received approval to launch a private equity fund and to have made investments. This fund will invest in the sustainable energy sector, including hydroelectricity, solar, and wind energy.
As a further testament to its commitment to responsible investing, Laxmi Capital is a proud signatory to the Operating Principles for Impact Management (Impact Principles), contributing to a global community promoting discipline, transparency, and credibility in the impact investing market. The first secretariat of Impact Principles is hosted by the International Finance Corporation (IFC).