CMS advises Clime Capital, TRIREC and Lightrock on Stride's Series B fundraising round
CMS has advised Clime Capital, as fund manager of Southeast Asia Clean Energy Fund II (SEACEF II), and TRIREC and Lightrock, as fund managers of the Energy Access Acceleration Fund, on Stride's Series B fundraising round.
CMS also advised Touchstone Partners in connection with its secondary share sale as part of the same transaction.
The fundraising round was co-led by Lightrock and TRIREC via the Accelerate7 platform, with participation from co-lead investor Clime Capital and existing investor UOB Venture Management.
The financing will support Stride's expansion of solar and battery solutions, increasing access to clean and affordable energy for households and small businesses across Vietnam.
The cross-border transaction spanned Singapore and Vietnam, and required careful management of various multi-investor and stakeholder considerations.
Abby Ho, Director, Impact Investments at TRIREC, commented: "Gerald Licnachan, James Fisher and the CMS team were incredibly helpful on our successful transaction: commercially minded and able to cut through complexity to make it work for all parties. Grateful to the team who consistently found pragmatic solutions to keep the process moving."
Namrata Singh, Investments Principal at Clime Capital, added: "CMS has been our partner of choice across several transactions. Gerald Licnachan, James Fisher and the team structured and executed a complex deal, aligning multiple stakeholders to achieve a strong financing outcome for Stride."
Gerald Licnachan, Corporate Partner at CMS, said: "We’re delighted to have supported Clime Capital, TRIREC and Lightrock on this important transaction. Stride's Series B round reflects the growing momentum behind clean energy solutions in Southeast Asia, and it was a privilege to work alongside such committed investors to bring this complex, multi-stakeholder deal to a successful close."
The CMS team was led by Gerald Licnachan, with support from James Fisher, Petrina Koh, Sophie Tan, Molly Greenslade and Tommi Barnes (Corporate).
