TruBoard Partners LLP, an IT-based monitoring solutions platform, is assisting investors in managing their equity and debt investments across renewable energy assets, residential real estate and retail non-performing assets in India.
The company plans to increase its assets under management to $5 billion by 2025, which is equivalent to 5 gigawatts of generating assets from $2 billion AUM and 1 GW of generating assets at present, Nandkumar Surti, co-founder of TruBoard, told BQ Prime in an exclusive interview.
TruBoard plans to invest $6 million, or around Rs 50 crore, in the next 18 months in technology, completing their product suite and enabling geographic expansions.
The company plans to increase its assets under management to $5 billion by 2025, which is equivalent to 5 gigawatts of generating assets from $2 billion AUM and 1 GW of generating assets at present, Nandkumar Surti, co-founder of TruBoard, told BQ Prime in an exclusive interview.
TruBoard plans to invest $6 million, or around Rs 50 crore, in the next 18 months in technology, completing their product suite and enabling geographic expansions.
Edited Excerpts From The Interview:
Can you provide an overview of TruBoard Partners and your resources in the country?
Nandkumar Surti: We are a third-party managed services platform that is dedicated to assisting investors in managing their investments, particularly in equity and debt. Our current focus is on renewable energy assets, residential real estate assets, and retail NPAs (non-performing assets) in India. We offer services designed to help our clients optimise their returns on these investments. To support these services, we have a dedicated team of over 250 professionals, managing a portfolio exceeding $2 billion for equity investors and lenders. We aim to take this portfolio to $5 billion in the next two to three years.
Our commitment to innovation is evident in our 50-plus member technology and products team.
What potential do you see in the renewable energy sector and how does TruBoard plan to seize this opportunity?
Nandkumar Surti: The renewable energy sector, along with roads, has witnessed significant capital expenditure over the past decade. It is gaining attention from yield investors looking for opportunities. As an asset management platform, TruBoard is well-positioned to capitalise on this trend.
Our approach encompasses sourcing, due diligence, financing, asset management and a suite of products, including workflow automation, seamless reporting and advanced analytics. We are already managing 1 GW of renewable energy assets for over a year that we aim to take to 5 GW in the next two to three years.
Our unique positioning at the intersection of finance, operations and technology allows us to offer comprehensive solutions that cater to the evolving needs of the renewable energy sector as it scales from representing 10% to 40% of the grid energy.
What is the global infrastructure growth potential in renewables? How do you see the role of TruBoard Partners evolving in the coming years to support this growth?
Nandkumar Surti: The potential for global infrastructure growth in renewables is substantial. We are developing our products with global markets in mind, with the flexibility to cater to different regions and their unique requirements.
Furthermore, we see the potential to operate "global assets" from India. As the energy markets worldwide continue to converge, our products and services will become more replicable across different markets.
Yield-bearing assets in the renewable energy sector are often modular in nature, which means that operational learnings can be efficiently transferred and applied across multiple markets.
What advantages does your model offer to generating companies and investors?
Nandkumar Surti: Our model is designed to provide a comprehensive set of advantages to both generating companies and investors. By offering engineering, analytics, products and managed services all under the same platform, we enable investors to manage multiple portfolios seamlessly. This integration is a key differentiator for us. Our strategy revolves around three core principles: increasing revenue, decreasing costs and enhancing asset integrity across the portfolios we manage. These pillars allow investors to clearly benchmark the value we bring to their investments.
Can you explain why the company concentrates solely on renewables and how it fits into the broader clean energy landscape?
Nandkumar Surti: We see the clean energy landscape as a holistic opportunity, and we aim to build a platform that encompasses technology products and services within this overall theme. While our core team has a background in renewables, which made it a logical starting point for us, we recognise the potential in other aspects of the energy transition across the "green" value chain. We have already begun preliminary work in the other facets of the energy transition, and we plan to expand our services to cover these areas soon.
What has been your funding history? Could you provide insights into TruBoard's plans for raising funds in the immediate future?
Nandkumar Surti: In the fiscal year 2022, we successfully raised $2.7 million in funding. Having established a proof of concept, we are now focused on accelerating our product delivery timelines and expanding our operations. To facilitate this growth, we are planning to invest over $6 million in the immediate future.
The primary use of these funds will be in technology investments, completing our product suite and enabling geographic expansion. We've already made strategic investments in assembling a senior leadership team, and our goal is to create and deploy plug-and-play products across different segments and geographies.
How does TruBoard intend to attract both foreign and Indian investors?
Nandkumar Surti: Our business model is focused on building a robust regular income stream while also exploring asymmetric opportunities in technology products. One of the factors that makes us an attractive investment is the profitability of our individual contracts, and as we continue to increase efficiencies by bringing more products online, we expect the overall profitability to increase.
Moreover, our model has global scalability, providing investors with an exciting opportunity to participate in our journey. These elements, combined with our positioning at the nexus of finance, operations, and technology, make TruBoard an appealing choice for both foreign and Indian investors looking to engage in our growth story.
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