Fostering innovative business ideas and mentoring new-age entrepreneurs is the core value of The Chennai Angels (TCA). It is an overwhelming feeling when aspiring entrepreneurs overcome the initial teething troubles of business and emerge as one of the most promising and enterprising firms of the nation. One such success story is that of our successful investee company Fourth Partner Energy (4PEL).
We are proud to announce that we have recently exited investment in 4PEL as the firm has catapulted to new heights and has effectively leveraged the launch pad shared by us. We wish the firm all the very best in their future endeavors and wish them all the success in the years to come.
Founded in 2010 by Vivek Subramanian, Saif Dhorajiwala, and Vikas Saluguti,
4PEL is one of the leading distributed energy management companies with services offered in engineering, design, construction and financing, to name a few. They believe that every other stakeholder of the firm, from the customer to the supplier, is the fourth partner of the business circle – coining the name of the organisation. Today, 4PEL has over a 100 clients with more than 1500 installations set up across 22 states of the nation. They are an ISO 9001:2008 and
14001:2015 certified company, an MNRE channel partner certified in ‘Category A’ and an active partner in the state nodal agencies of the country.
The Chennai Angels partnered with 4PEL in 2014 and invested Rs. 2.5 crore in two rounds – one in the same year and the next in 2015. Under our guidance and advice, the firm has grown 15 times in revenue with 25 times increase in operating profits. It is one of the most successful and profitable investor stories for us as well.
According to Mr. Vivek Subramanian, Co-founder and Executive Director of Fourth Partner Energy, “In 2014 when we got funded by The Chennai Angels, distributed solar was in very adolescent stages and not many understood the space very well. At TCA, their understanding of the space was remarkable. What we have always valued more than the money is their advice and the knowledge and that all of them were always just a call away.”
Just like 4PEL, we have had other such successful exits such as POPXO – an online community for women, and metroplots.com – an online Real Estate advisory.